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Less than a month afterBosasaannounced it was entering voluntary liquidation, it has turned to the courts to have that decision reversed, claiming it had been given bad advice.
The directors of African Global Operations, the company formerly known as Bosasa, filed an urgent application in the High Court in Johannesburg.
The company started its collapse when former chief operations officerAngelo Agrizzitestified at theZondo commission of inquiry.
The decision to liquidate was taken after the companys banks announced they would close its accounts at the end of last month, citing reputational risk.
In an affidavit, Bosasa board chairman Johannes Gumede said the board did not properly read the legal documents prepared to it by a legal consultant…
Pursuant to Regulation 30 and any other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the First Meeting of the Committee of Creditors of M/s. Sejal Glass Limited will be held on Friday, March 15, 2019 at 3.00 P.M. at Edelweiss Asset Reconstruction Company Limited, Edelweiss House, 3rd Floor Off. CST Road, Kalina, Mumbai- 400 098.
This letter may be treated as communication under Regulation 30 and any other applicable provisions, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Conflict is a natural part of life. It happens at home, in the community, and of course in our place of work.
So why is it we tend to consider conflict as something that should be avoided like the plague?
Author Liane Davey believes it shouldnt. In fact, in her new book, The Good Fight: Use Productive Conflict to Get Your Team and Organization Back on Track, she argues conflict is a natural and fundamental component to the organization. The book is an excellent field guide to not only help set the record straight about conflict; it provides practical, useful tips on how to get it right.
There are several terms Davey introduces upfront that helps to set the tone of the book. One of the …
When Shoes of Prey launched in 2009, it became a tearaway success almost immediately.
But now, just one decade later, the customisable footwear company has become the latest victim of Australias struggling retail industry.
Shoes of Prey has just entered into liquidation, with Kelly Trenfield and John Park of FTI Consulting appointed as administrators yesterday.
On Sunday, co-founder Michael Fox broke the bad news in a post on Medium bearing the title The Shoes of Prey journey Ends.
In it, he cited the companys failure to gain traction in the mass market as well as its difficulty in competing with cheap Chinese manufacturers as two driving reasons behind the collapse.
Its a sad end for a company which was once prepped to scale into the $100ms…
Australian fashion startup and former industry trailblazer Shoes of Prey has collapsed into liquidation, ending months of uncertainty surrounding the startup after it was put on pause in August last year.
Liquidators from FTI Consulting Kelly Trenfield and John Park were appointed to manage the winding down of the startup, which was founded in 2009 by Michael and Jodie Fox, and Mike Knapp.
Shoes of Prey offered shoppers ways to customise and design their own footwear, and was a golden child in Australias nascent startup scene, attracting investment from Blue Sky Capital and a number of high-profile individuals, such as Mike Cannon-Brookes and Bill Tai.
However, the startup was mired with controversy and uncertainty last year, with the…
On a February morning in 2005 in a hearing room in the Dirksen Senate Office Building, Joe Biden confronted Elizabeth Warren over a subject theyd been feuding over for years: the countrys bankruptcy laws. Biden, then a senator from Delaware, was one of the strongest backers of a bill meant to address the skyrocketing rate at which Americans were filing for bankruptcy. Warren, at the time a Harvard law professor, had been fighting to kill the same legislation for seven years. She had castigated Biden, accusing him of trying to sell o…
British billionaire James Stunt has admitted that he is being chased over a massive gambling debt worth more than 1 million. The 37-year-old man further shared that he plans to settle the debt by using paintings of Picasso and Monet, which he has previously lent to the Prince of Wales.
Reportedly, the seven-figure loss was generated by Stunt with a spread-betting operator called CMC Spreadbet. As written in court documents, the British billionaire is seeking to pay off his debt, so he has proposed borrowing 70 million secured in return to a fine art collection he has lent to Prince Charles. The collection consists of paintings by Dali, Picasso, Monet, Van Dyck and Constable and is estimated to a total of 225 million…
One of Australias most heavily touted tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency.
Helpfully, co-founder Michael Fox has explained why in a Medium post.
The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and couldnt find a way to get there.
The Shoes of Prey schtick was an online shoe design tool, focused on stylish womens footwear. The company was hailed as a pioneer of personalised and customised apparel. It won a stack of awards from the retail and startup industries to attest to its early splash. Its founders were asked to speak at conferences to describe their insights into the…
Michael McKevitt was among four men found liable for the attackPACEMAKER PRESS
Three men found liable for the Omagh bombing have been declared bankrupt by the High Court after failing to pay damages to relatives of the victims.
The car bomb on a street packed with shoppers killed 29 people, including nine children and a woman pregnant with twins, in the Co Tyrone market town on August 15 1998 and was the biggest single atrocity of the Troubles. Some 220 others were injured. Police had inadvertently moved people towards the bomb after receiving inaccurate telephone warnings. Nobody has been convicted of the murders, for which the Real IRA claimed responsibility, although they said that they had not meant to kill civilians a…
Sub: Outcome of the 10th Meeting of Committee of Creditors of Uttam Value Steels Limited
Dear Sir,
This is in reference to the captioned subject.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 10th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (the Company) was held on March 11, 2019 to discuss the agenda items stated in the notice of the meeting.
New York Media is laying off 16 full-time staffers and an additional 16 part-time and freelance staffers in a restructuring that is intended to put it on firmer financial footing, the company said today.
The cuts primarily affect New Yorks audience development and circulation teams, its copy and fact-checking desks and its video and production teams.
In some cases, the changes we are making reflect a need fornewfocus as we build out our digital subscription business; in others, they reflect an overdue integration of print and digital staffs, said Lauren Starke, a spokesperson for New York Media. In no case are they a judgment on the quality of the work produced by our colleagues who are leaving, and we thank them sincerely for …
DEBT RELIEF: Education-focused venture capital firm Rethink Impact has led an $11.2 million Series A round for FutureFuel.io, which provides a platform to help employees pay down their student debts. The Boston-based company has now raised a total of $15.7 million, according to a statement.
Founded in 2016, FutureFuel.io allows employers to offer student debt repayment as an employee benefit. The company claims it can help users pay off their debt up to five years faster.
Other participants in the fundraising round include Breton Capital, First Data, G9 Ventures, The Impact Engine, Salesforce Ventures, SixThirty and Vulcan Capital.
Rethink Impact founder and managing partner Jenny Abramson has joined the FutureFuel.io board of directors. …
British billionaire James Stunt has admitted that he is being chased over a massive gambling debt worth more than 1 million. The 37-year-old man further shared that he plans to settle the debt by using paintings of Picasso and Monet, which he has previously lent to the Prince of Wales.