Online auction house Grays.com is unlikely to be part of Quadrant’s highlights reel when its dealmakers are sweet-talking investors for the next fundraising. But, after several attempts at an exit and six years on from buying a controlling stake, the private equity firm has finally found the business a new home.

On Thursday night, family-owned Slattery Auctions agreed terms to acquire Grays.com for a nominal amount, according to people involved in the deal, who agreed to speak under the condition of anonymity. KordaMentha’s 333 Capital advised Quadrant.

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Introduction

The Corporate Insolvency and Governance Act 2020 (CIGA or the Act) has introduced new procedures and measures to seek to rescue companies in financial distress as a result of the COVID-19 pandemic and the resulting economic crisis.

CIGA came into force on June 26, 2020 after a speedy progression through Parliament, following the publication of the draft legislation in May. CIGA is part of the Government’s response to the COVID-19 crisis and introduces a number of “debtor friendly” measures to English restructuring and insolvency law, which up to now has been regarded as “creditor friendly”. The two new permanent restructuring procedures leave the current directors in office, with an opportunity to…

Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had been anticipated that the Treasurer would do so as part of the Australian Government’s Economic Update on 23 July, but an announcement was not forthcoming.

While these measures are argued to relieve the pressure on directors continuing to struggle to navigate the economic impact of the pandemic, and to enable companies to trade on, the risk is that they perpetuate…

Friendships can become complicated when money gets involved.

If you had the money to help a friend out, would you help them, or would you refuse?

This woman has a friend who lives a lavish lifestyle and is now drowning in debt.

She could easily give her the money to help her out of this situation, but she worries that this might enable her poor spending habits.

Read the full story below for all the details.

I don’t have kids, or need to buy a house (renting is a better option in my city), and I have pretty inexpensive tastes.

So, even though I’m not rich, I can afford basically everything I want and need in life.

I can easily save money.

This woman’s friend has expensive tastes and lives a…

Facts 

Mrs F stated that as a former employee of Group X, she held a PERCOL that had been opened with account keeper A.

She explained that she had left Group X to set up her own company, SAS Y. However, some time after it was created, SAS Y ran into financial difficulties and, in a judgment handed down in November 2024, the Tribunal de Commerce had pronounced the closure of the liquidation proceedings that had been opened in relation to it.

As a result, Mrs F had approached her employee savings scheme account keeper and requested the early release of €3,800 from her PERCOL on the grounds of “cessation of self-employed activity as a result of liquidation proceedings”.

However, Institution A had refused Mrs F’s request on the following…

Paris – The Paris Commercial Court kept the French subsidiary of low-cost jewellery retailer Claire’s in receivership on Thursday. This decision followed the submission of a takeover bid from three companies, which was deemed “very minimalist” by lawyers for the staff representatives.

The court opened receivership proceedings for Claire’s France at the end of July. Management justified this move by citing a continuous decline in in-store sales over several years. This decline was accelerated by US customs duties on Chinese products, which Claire’s uses extensively.

An observation period was then opened. The court decided on Thursday to maintain this period until the end of January following a call for tenders for a partial takeover of…

The Uganda-based Madhvani Group’s firm, Independent Sugar Corporation Limited (INSCO), has assumed full control of the debt-ridden Hindustan National Glass & Industries Limited’s (HNGIL) through the Insolvency and Bankruptcy Code process on Friday.

The acquisition was led by industrialists, Kamlesh Madhvani and Shrai Madhvani, with financial support from Cerberus Capital Management and the International Finance Corporation (IFC), INSCO said in a statement.

The ₹2,250 crore resolution plan had been approved by the National Company Law Tribunal (NCLT) on August 14, 2025, and has received approvals from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI), it added.

This transaction concludes one of India’s…