Insolvency Guardian Media Centre
The trucking company found responsible for the deaths of four police officers on the Eastern Freeway will never pay its record $2.31 million fine after the business was declared insolvent despite previously earning millions of dollars in profit.
Connect Logistics was the operator of a truck that slammed into two police cars in the emergency lane after they pulled over a Porsche in Kew on April 22, 2020, killing Leading Senior Constable Lynette Taylor, Senior Constable Kevin King and constables Glen Humphris and Josh Prestney.
Senior Constable Kevin King (left), Constable Josh Prestney, Leading Senior Constable Lynette Taylor and Constable Glen Humphris were killed on the Eastern Freeway in 2020.Credit: Victoria Police
Compounding the…
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Small business bankruptcy rules get tighter after US law expiration Reuters.com
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FSS enhances monitoring of high-risk corporations to prevent insolvency in South Korea – CHOSUNBIZ 조선비즈
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Are there no lengths corporate renegade Nick Bolton won’t go to?
Keybridge Capital confirmed Street Talk’s report the company had been placed in voluntary administration on Monday morning. But when Bolton is involved, things are never that simple.
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NOIDA: The national company law tribunal (NCLT) has terminated the ongoing corporate insolvency resolution process (CIRP) against the realty firm – Logix Infrastructure private limited – that was facing the proceedings since 2023.
In its 20-page order, delivered on Thursday (February 6), the NCLT has directed the resolution professional to return the management control of the firm to ex-management and also ended the moratorium period given to the realty firm.
The NCLT while allowing IA 6541 (the plea)with costs, terminated the admission order that was…
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Keybridge Capital Appoints Voluntary Administrator Amid Legal Challenges TipRanks
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Nicholas Bolton’s Keybridge to enter voluntary administration: sources The Australian Financial Review
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Three companies based in Manchester have been shut down after they took deposits for 21 kitchens but failed to fit them.
Smart Choice Kitchens Ltd, Empire Kitchens and Bathrooms Ltd, and Connect Kitchens Ltd were all wound up at a hearing of the High Court at Manchester Civil Justice Centre on Tuesday after an investigation into their business practices.
The Insolvency Service found Smart Choice Kitchens Ltd and Empire Kitchens and Bathrooms Ltd claimed deposits of more than £50,000 from victims, before telling them, falsely, they had gone into liquidation and could not deliver the service.
There were concerns the subsequent phoenix firm, Connect Kitchens Ltd, would continue similar practices.
The three companies were all established…
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A MAN with significant debt was struggling to find a way to pay it off after taking on big student loans.
He sought advice on The Ramsey Show, where hosts analyzed his situation and suggested how he could help himself get out of debt.
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It could require some sacrifice, but the hosts said it was possible to pay off the debt faster.
THE DEBT
Luke, from Atlanta, Georgia, called into the Dave Ramsey show to ask how to get out of over $400,000 in debt.
He and his wife had each taken on $100,000 in student loans, with those loans doubling to roughly $200,000 each.
His minimum payment on the loans was more than $2,800, he said.
But most of that wasn’t going to…
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ASIC released their latest insolvency statistics earlier this week and the results are concerning.
A company becomes insolvent when they can’t pay their debts when those debts become due for repayment.
When this happens it’s common for an external administrator to be appointed who will then take control of the business and attempt to maximise the amount of debt that can be repaid.
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Noida: The National Company Law Tribunal (NCLT) has terminated the corporate insolvency resolution process (CIRP) against Logix Infrastructure Pvt Ltd — the developer of Blossom County in Sector 137 — citing “fraudulent intent” in the petition.
In its Feb 6 order, the tribunal asked the resolution professional (RP) to allow Logix Infrastructure’s former directors to take back control of the company’s management. It also asked Experts Realty Professionals — the financial creditor that had originally filed the insolvency petition — to bear all costs related to the CIRP till now and pay a penalty of Rs 5 lakh, which it must deposit with the Prime Minister’s National Relief Fund within 10 days.
The case emerged when Experts Realty…