On 25 January 2021, a winding up order was made against Debenhams PLC (Company number: 05448421) and the court appointed the Official Receiver as liquidator.
Debenhams PLC was formerly the holding company for the Debenhams retail group but at the date of liquidation it had no active operations or employees.
The trading arms of the retailer, Debenhams Retail Limited (00083395) and Debenhams Properties Limited (00344823), remain in administration. The administrators for both companies are Geoffrey Paul Rowley and Alastair Rex Massey of FRP Advisory and they can be contacted via:
Read the full article at: https://www.miragenews.com/debenhams-plc-information-for-creditors-and-interested-parties/
The Delhi bench of the National Company Law Tribunal (NCLT) has initiated insolvency proceedings against a firm belonging to The Pioneer group, following a plea by one of its directors.
The Pioneer group, owned by journalist Chandan Mitra, brings out one of the country’s oldest newspapers of the same name. Mitra declined comment when contacted.
But the NCLT in an order dated January 25 has appointed an interim resolution professional (IRP), who has since issued a public notice asking all creditors to come forward with their claims.
The matter pertains to an insolvency petition filed by Amit Goel, who is a director of CMYK Printech, The Pioneer group firm, in November.
Goel, who owns around 20 per cent in CMYK Printech, had given…
Read the full article at: https://www.business-standard.com/article/companies/nclt-begins-insolvency-proceedings-against-the-pioneer-group-firm-121012600909_1.html
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The Supreme Court has upheld an order passed by the National Company Law Appellate Tribunal (NCLAT) directing an Operational Creditor to pay the CIRP costs and fees after the dismissal of his insolvency plea. (Rajkumar Brothers And Production Pvt Ltd vs Harish Amilineni Shareholder and erstwhile Director of Amilionn Technologies Private Limited & Anr)
Dismissing the appeal filed by the Operational Creditor, a Bench of Justices Indira Banerjee and Sanjiv Khanna said,
“The Respondent (Corporate Debtor) having succeeded, cannot be saddled with the costs of the Corporate Insolvency Resolution Process (CIRP) initiated at the behest of the Appellant or with the fees…
Read the full article at: https://www.barandbench.com/news/litigation/supreme-court-upholds-order-directing-operational-creditor-to-pay-cirp-costs-fees-dismissal-insolvency
Global management consultancy FTI Consulting has installed Vincent Fok as the new Head of its Corporate Finance & Restructuring segment in Asia.
Vincent Fok brings more than two decades of experience in corporate recovery, corporate restructuring and transaction advisory to the role. He succeeds John Batchelor, who led the division for the past five years and recentlyrelocated back to Australia to be closer to his family.
Based in the firms Hong Kong and Shanghai offices, Fok leads FTI Consultings Corporate Finance & Restructuring work delivered from its offices in China, India, Indonesia, Japan, Korea, Malaysia, Philippines and Singapore.
The practice helps clients with a range of strategic and financial advisory offerings, including …
Read the full article at: https://www.consultancy.asia/news/3863/vincent-fok-leads-ftis-corporate-finance-restructuring-segment
A US bankruptcy court judge has approved the Weinstein Cos liquidation plan, which sets aside $17m for women who accused co-founder Harvey Weinstein of sexual misconduct.
Judge Mary Walrath, presiding over a remote hearing from Wilmington, Delaware, overruled an objection from a handful of women who have been looking to pursue appeals of their claims outside the bankruptcy court.
She noted that 83% of sexual misconduct claimants in the bankruptcy have expressed very loudly that they want closure through acceptance of this plan, that they do not seek to have to go through any further litigation in order to receive some recovery, some possible recompense … although its clear that money will never give them that.
The Weinstein Co sold its as…
Read the full article at: https://www.theguardian.com/world/2021/jan/26/weinstein-co-to-pay-out-17m-over-sexual-abuse-claims-as-part-of-liquidation
Equestrian Australias rescheduled Annual General Meeting on January 25 lapsed after the number of voting members required in person or by proxy to form a quorum was not met.
Under normal circumstances, only 20 voting members are required to constitute a quorum at the AGM, but as there was a Special Business Notice of Motion on the agenda 5% of voting members were required. While this equated to 820 voting members, 654 voting members attended.
The Special Business Notice of Motion tabled for the meeting was looking to grant Equestrian Northern Territory the same voting rights as those held by other state branches. That motion has also lapsed but this does not restrict the submission of a further Notice o…
Read the full article at: https://www.horsetalk.co.nz/2021/01/26/equestrian-australia-adjourned-agm-lapsed/
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Penriths ever-changing restaurant scene has had another major change, with long-time Italian restaurant Panarottis closing during the week.
The restaurant had been a mainstay in Panthers for many years, originally opening in a spot accessible from the main foyer, and then moving inside when renovations happened a little over a decade ago.
The restaurant entered voluntary administration late last year but had intended to remain trading.
It has been very emotional for us but a decision for the future of Panarottis Penrith was made and unfortunately not having our lease renewed made it impossible for us to continue operations while originally, we had every intention of …
Read the full article at: https://westernweekender.com.au/2021/01/shake-up-to-penriths-restaurant-scene/
(Adds details, background)
PARIS, Jan 25 (Reuters) – The European Commission did not request extra time for talks on a planned restructuring of French state-controlled energy firm EDF, a source in the French finance ministry said on Monday.
French broadcaster BFM Business reported on Monday that the European Commission wanted a further six months of talks because it could not give a green light to the restructuring plan as it stands now.
EDF shares fell over 18% on the report but trimmed the losses to be down around 14% at 1503 GMT on Monday after the finance ministry sources comments.
This negotiation is underway and in any case no additional time to finalise it has been requested, the source said, adding that the …
Read the full article at: https://www.reuters.com/article/edf-restructuring-eu/update-2-france-denies-delay-sought-for-edf-restructuring-talks-idUSL1N2K00YP
Speculation recently began to spread that Konami was abandoning its game development divisions, but the publisher insists that’s not true.
In an announcement about internal restructuring, Konami divulged plans to dissolvea few of its Production Divisions, leading many to believe the publisher had abandoned gaming-related efforts; according to Konami, though, such speculation is inaccurate. Konami’s mainstream video game output has considerably declined in the last several years. Apart from collections, re-releases, and annual Pro Evolution Soccer entries, the Japanese giant hasn’t launched anything of note since Metal Gear Solid V: The Phantom Pain.
Since Konami is home to many a beloved IP, the company itself rarely stra…
Read the full article at: https://screenrant.com/konami-gaming-division-shutdown-rumors-debunked-internal-restructuring/
The pandemic has left corporations like AMC with no option but to go into debt in order to see another day. Angela Weiss/Getty Images
One of the biggest debates in Washington, D.C., is about how much debt the government should take on to get the country through the pandemic. On the corporate level, were seeing something similar, with some companies making the calculation that debt is their only option right now.
AMC, the movie theater chain, raised more than $900 million in financing, part of which is debt, to help the company get through this next part of the pandemic.
Corporations have amassed big piles of debt during this pandemic, and that has long-term implications for the economy.
On the one hand,…
Read the full article at: https://www.marketplace.org/2021/01/25/corporations-pile-debt-survive-pandemic/
// Debenhams has been wound up by theInsolvency and Companies Court
// Judge Daniel Schaffer described Debenhams as a rudderless ship drifting in an ocean of insolvency
// It comes after Boohoo confirmed it had bought the Debenhams brand & website for 55m
Debenhams has been wound up by a judge in a specialist court, just hours after it was announced that Boohoo would acquire its brand and website in a 55 million deal.
Judge Daniel Schaffer made a winding-up order for the collapsed department store chain at an online hearing in the Insolvency and Companies Court today.
He described Debenhams as a rudderless ship drifting in an ocean of insolvency whic…
Read the full article at: https://www.retailgazette.co.uk/blog/2021/01/debenhams-given-winding-up-court-order/
A bankruptcy court judge Monday confirmed a liquidation plan for the former Weinstein Co., which filed for Chapter 11 three years ago as disgraced mogul Harvey Weinstein imploded in a sea of sexual abuse and harassment accusations.
Weinstein the man is serving a 23-year sentence for rape and assault at a correctional facility in upstate New York. The assets of his company were sold to a private-equity firm, with proceeds going to secured creditors. A group of unsecured trade creditors and Weinstein victims and their attorneys have been arguing over how divide whats left, basically settlement money offered by insurance companies.
After years, a large majority of both agreedto accept the latest proposed settlement earlier this month that…
Read the full article at: https://deadline.com/2021/01/bankruptcy-judge-weinstein-co-liquidation-plan-after-three-year-odyssey-after-last-ditch-protest-by-handful-of-victims-1234680155/