Insolvency Guardian Media Centre
Chris Steyn (00:01.123)
Welcome. This interview is sponsored by Progressive Administration and with me is MD Thomas Van Zyl, who is here to talk about voluntary liquidation. Welcome, Thomas.
Thomas Van Zyl (00:12.302)
Thanks very much.
Chris Steyn (00:14.437)
Firstly, is voluntary liquidation better than deregistration?
Thomas Van Zyl (00:21.288)
I think whether it’s better or not is a difficult question, but I think it’s becoming more advantageous to members of the public or directors that hold directorships in various entities. And to go through the process of deregistration is not necessarily complicated, but it’s cumbersome. And it also requires…assistance with auditors, you certainly need them to sign off and then you need to go through…
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Hotel guests around the world were left “homeless” when they were evicted from their rentals with only hours of notice after Marriott-backed chain Sonder filed for bankruptcy, creating a vacation “nightmare” for hundreds.
Sonder Holdings Inc. announced an “immediate wind-down of operations” on Monday after filing for a Chapter 7 bankruptcy, initiating a liquidation of its US businesses and beginning insolvency proceedings overseas.
Marriott terminated its licensing agreement with the San Francisco-based company on Sunday, after the apartment-style accommodations defaulted on its August 2024 agreement.
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Miyoko Schinner, the chef and entrepreneur who helped define the modern vegan cheese movement, has confirmed that she failed to win back Miyoko’s Creamery, the company she founded in 2014 and was pushed out of two years ago.
“I didn’t get it. The company that bears my name went to someone else with a higher bid,” she wrote in a candid LinkedIn post.
Schinner said the liquidator overseeing the brand’s sale had a fiduciary duty to accept the highest offer, and hers wasn’t it. Her comments follow a whirlwind 48-hour campaign to assemble a rescue bid for the Sonoma County-based company, which entered liquidation earlier this fall.
“There simply wasn’t enough time,” she wrote, noting that more than 1,600 people had…
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Online gaming platform WinZO has hit back at Paytm’s parent One97 Communications after the fintech firm moved the National Company Law Tribunal (NCLT) seeking to initiate insolvency proceedings over an alleged non-payment of ₹3.6 crore for advertising services.
Calling the move a “pressure tactic,” WinZO said it was “unfortunate” that Paytm had escalated what it described as a “routine commercial settlement” into an insolvency case.
“It is unfortunate that, after an eight-year partnership, Paytm has escalated a routine commercial settlement into an insolvency proceeding as a pressure tactic,” the company said in a statement to Storyboard18. “Such matters should be resolved through dialogue and due process, not by…
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Jaiprakash Associates: Five Resolution Plans Under Voting for Debt-Laden Company scanx.trade
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Federal Court lets liquidator serve documents on company director in Singapore Australasian Lawyer
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OPINION | Transforming real estate insolvency and recovery through IBC reforms Moneycontrol
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The Committee of Creditors (CoC) of Jaiprakash Associates Ltd (JAL) recently reviewed the final resolution plans submitted by five interested bidders and is expected to vote on the selected plan within the next two weeks. According to sources, Adani Enterprises Ltd?s proposal to make full payments to lenders within two years has been rated higher than Vedanta Ltd?s plan, which involves staggered payments over five years.
In early September, Vedanta had been named the highest bidder in the auction conducted by lenders, offering an acquisition value with a net present value (NPV) of INR 12,505 crore. Following the auction, lenders held further discussions with all five shortlisted…
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