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Article ID: 291373
Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Plant-based food manufacturer Sustainable Foods in liquidation BusinessDesk
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NES Health, the staffing firm that drew attention recently for not paying its doctors, says it will “wind down its operations and cease doing business,” according to a company email shared on social media.
Doctors who worked for the company may be out several months of pay, and NES said it won’t provide malpractice tail coverage either, according to the email.
The company’s CEO and chief medical officer resigned earlier this month; however, the company hasn’t yet filed for bankruptcy.
“They are unlikely to go bankrupt until they have collected the next few months of patient care bills,” Leon Adelman, MD, co-founder and CEO…
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She said the business had directly engaged with more than 1 million young people through live events in theatres, workshops, birthday parties, schools and online programs.
“The ripple effects of our mission—through enduring programs built with partners worldwide, millions of online engagements, and transformative publications—extend far beyond what we can count.”
Dickinson said the business was always designed to be “purpose-driven”, saying for every copy of her book The Kitchen Science Cookbook, another was gifted to families and schools in need.
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“This journey has been shared with so many – partner…
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Plant-based food manufacturer Sustainable Foods now in liquidation Waikato Times
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BBCA beleaguered council lacks the capability to resolve its problems without outside help, according to the commissioners in charge of overseeing its recovery.
Birmingham City Council effectively declared itself bankrupt in September last year and is now in the process of making £300m worth of cuts to services.
In a critical report, commissioners said the council was letting down residents.
Council leader John Cotton said progress was being made on improvements and that the authority was engaging constructively with the new government.
In September the prime minister said there was “no magic wand” to solve the…
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‘Big shock’: SolarZero CEO speaks out on liquidation Stuff
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Global education design company Nanogirl Labs, founded by Kiwi couple Michelle Dickinson and Joe Davis, has gone into liquidation.
Nanogirl Labs was placed into liquidation as funding for science education dried up, BusinessDesk reported.
“Michelle and I and the amazing people who’ve worked with us over the last eight years have poured our heart and soul into trying to make a for-purpose business that could make a real difference for Kiwi kids and kids around the world,” Davis said.
In July, the Herald reported on more than 350 being lost across New Zealand’s science system.
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New Delhi, Nov 27 (KNN) In a pivotal decision, the National Company Law Appellate Tribunal (NCLAT) Delhi has dismissed the petition seeking to initiate insolvency proceedings against Amazon Wholesale (India).
The appellate tribunal upheld the earlier ruling by the National Company Law Tribunal (NCLT), which in March 2023 had rejected the insolvency plea filed by Multiplier Brand Solutions.
The NCLAT emphasised that the petition was based on disputed invoices and that the dispute had arisen well before the formal demand notice was issued.
The tribunal ruled that the NCLT was correct in refusing to initiate the Corporate Insolvency Resolution Process (CIRP), given the pre-existing nature of the dispute between the two…
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SolarZero hits a big BlackRock BusinessDesk
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Raheja Developers filed an appeal with the National Company Law Appellate Tribunal (NCLAT) to contest the initiation of insolvency proceedings against the company due to defaults related to the non-delivery of its Shilas project in Gurugram. This follows the Principal Bench of the National Company Law Tribunal (NCLT) admitting a petition from over 40 flat allottees of the Sector 109 project, directing the initiation of a Corporate Insolvency Resolution Process (CIRP).
The NCLT has appointed an Interim Resolution Professional (IRP), suspended the company’s board, and placed it under a moratorium against creditors as stipulated by the Insolvency and Bankruptcy Code. The IRP has been tasked with submitting a progress report on the CIRP by…
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Pleas for assistance with business insolvency matters have jumped 50%, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) says, showing the extent and severity of the cash flow crunch.
The ombudsman received 6,254 requests for help over the 2023-2024 financial year, a 10% increase from the year prior, according to a summary of its June quarterly report.
Requests for help with insolvency — either from those considering insolvency, or those worried an insolvent business owed them money — jumped significantly.
The ASBFEO registered nearly 140 requests in that category last financial year, up from around 90…
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Highlights
- Satish Kumar Gupta has been appointed as the liquidator of Jet Airways India Limited.
- The NCLT has lifted the moratorium imposed on Jet Airways.
- The NCLT has ordered the liquidation of Jet Airways, following a plea by the Jet Airways Cabin Crew Association.
The National Company Law Tribunal, Mumbai has appointed Satish Kumar Gupta as the Liquidator of the Jet Airways India Limited.
His name was submitted by the State Bank of India, and the adjudicating authority received a written consent before appointing him as the liquidator.
The tribunal has order…