Mumbai: The bankruptcy court in Delhi on Monday admitted Go Airlines (India) Ltd, which runs Go First airline, into liquidation after the lenders failed to receive a viable revival plan for the company. The company has admitted liabilities of about Rs 8,575 crore.

The NCLT division bench of judicial member Mahendra Khandelwal and technical member Sanjeev Ranjan, allowed the application filed by the company’s lenders through resolution professional (RP) to initiate a liquidation process.

“The applicant (RP) submits that the resolution plans received were neither compliant with the mandatory requirements of the IBC (Insolvency and Bankruptcy Code) nor…

The latest liquidator’s report on a failed Whanganui meat company has done nothing to reassure farmers who are left tens of thousands of dollars out of pocket.

Waimarie Meats Limited was put into liquidation last May owing unsecured creditors almost $800,000, and an additional $300,000 to the Inland Revenue Department. 

The list of unsecured creditors extends to businesses and farmers throughout the lower North Island. 

The latest liquidators’ report has confirmed these creditors are unlikely to see any of what they are owed repaid from the company proceeds.

Secured creditors are listed as Kiwibank and weigh tech company ScaleLogic of Whanganui, claiming all “present and after…

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James Whitaker*, 35, first gambled at around the age of 12, playing Italian Roulette with real money. In his late 20s, he got hooked playing Blackjack at a casino in California. The rush of gambling was potent and intoxicating. It wiped out logic and reason.

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“Gambling triggered my brain’s reward center, releasing dopamine in the same way substance abuse might,” Whitaker told GOBankingRates. “While in action — whether placing bets, holding chips or watching volatile investments — I felt a heightened sense of excitement and focus, almost…

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Facebook App: Open links in External Browser

There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:

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Children First, Scotland’s national children’s charity, has made the plea as January is one of their busiest months.

The charity’s support line offers guidance on budgeting, benefits, debt, and energy bills to assist families in managing their finances.

Sinead Haddow, service manager at Children First, said: “Talking about your finances can be really daunting and we understand it can cause lots of anxiety for families.

“Our friendly support line team will listen to your worries, free of judgement, and start to help you put together a plan to get back to financial health.

“When families speak to us, it may be the first time they have had a good night’s sleep in months.”

Families can contact the support line by…

• The Indian National Company Law Tribunal (NCLT) has issued an order for the liquidation of the grounded ultra low-cost Indian carrier Go First, marking the final chapter in the airline’s financial turmoil.
• The decision was made by an NCLT bench comprising Judicial Member Mahendra Khandelwal and Technical Member Dr. Sanjeev Ranjan, who upheld the Committee of Creditors (CoC) application for liquidation.
• The liquidator should submit a preliminary report to the tribunal within 75 days from the date of commencement of the liquidation.

• The cash-starved airline reported a loss in the range of INR 1,800 crore, including an INR 800 crore notional loss due to accounting standards in the financial year ended March…