Both companies have cited the hangover of Covid and an economic downturn as factors for going bust.

One of the owners has also taken aim at the IRD over what he claims are excessive tax penalties. The liquidator has not accepted that claim.

Alexanders Apparel Ltd

Alexanders Apparel Ltd was nearing its 50th anniversary when it went into voluntary liquidation on September 1.

Its long-standing store in Napier, Alexanders on Tennyson, has shut its doors.

However, its second store, Alexanders Havelock North, remains open and is selling down stock at a reduced price to assist the liquidation process.

Its online store is also continuing for…

Both companies have cited the hangover of Covid and an economic downturn as factors for going bust.

One of the owners has also taken aim at the IRD over what he claims are excessive tax penalties. The liquidator has not accepted that claim.

Alexanders Apparel Ltd

Alexanders Apparel Ltd was nearing its 50th anniversary when it went into voluntary liquidation on September 1.

Its long-standing store in Napier, Alexanders on Tennyson, has shut its doors.

However, its second store, Alexanders Havelock North, remains open and is selling down stock at a reduced price to assist the liquidation process.

Its online store is also continuing for…

On August 28, shareholders resolved to appoint Raymond Cox and Gareth Hoole of Ecovis KGA as liquidators. In a report released on Friday, the liquidators said the company’s directors, David Christensen and Colin Dawson, had explained that the company was unable to raise further capital.

“The directors have advised the liquidators that the technology developed by the company required further capital to be introduced to take it to a fully commercial stage, but that there was not an appetite on the part of most of the shareholders to make that additional capital commitment.

Their first report identified assets of $111,309 and liabilities of $2.75m, including $1.4m of convertible notes yet to be converted. Unsecured creditors owed…

“We play with open cards and have only good intentions, so we have nothing to hide,” Prime Minister Orbán said. He contrasted this approach with what he described as the deceitful practices of the opposition, referencing a leaked internal opposition quote—”We can’t tell the truth or we’ll lose the election; first we win, then we can do anything.”

PM Orbán added, “Gyurcsány and his people had more sense. They waited until after the election to announce they had lied. These new ones admit it beforehand.”

He announced a new national consultation, focusing on what he called “the Tisza Party’s secret tax plans.” The consultation, he said, would be a way to engage the public directly in shaping the country’s economic…

The Mohegan Tribal Gaming Authority is moving forward with its legal fight against Ron Meyer, the former Hollywood executive, over an alleged unpaid gambling balance of nearly $2.8 million. Court documents filed in Connecticut outline the authority’s effort to prevent Meyer from securing a jury trial, insisting that the agreements he signed before gambling bind him to Mohegan law, which does not allow for jury trials in civil disputes.

A $5 Million Loss and Years of Repayment

The case stems from October 13, 2017, when Meyer reportedly lost $5 million in a single day at Mohegan Sun. According to the tribal authority’s complaint, Meyer issued six checks—referred to as markers—ranging from $500,000 to $1.5…

The government is planning to have a more foolproof mechanism to foil the chances of company promoters diverting funds fraudulently before filing for personal insolvency. 

As per a new section 164A introduced in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025, the resolution professionals (RPs) can approach National Company Law Tribunal (NCLT) to bring all kinds of |”avoidance transactions” back into the pool.

Closing loopholes in personal insolvency cases

Experts said that this section will discourage personal guarantors from hiving off assets before filing for bankruptcy under the Code. “The proposed section 164A of the IBC empowers the adjudicating authority to claw back undervalued transactions in cases of…

Greenus Capital Limited has raised $23 million in debt financing for Johnvents Industries Limited, to support the agribusiness firm’s operations and expansion drive.

Olakunle Odeyemi, CEO, Greenus Capital, said as an Africa-focused advisory firm, Greenus Capital is committed to unlocking capital and growth opportunities for high-potential, middle-market businesses.

In a statement made available to journalists, Odeyemi said that the fund reinforces Greenus’ role as a leading provider of strategic advisory and capital solutions for…

An Ontario woman was in disbelief after winning a hefty Lotto Max second prize.

East Gwillimbury resident Lucinda Themelis won $216,083.90 in the Lotto Max draw on June 27.

The administrative assistant has been playing with the Ontario Lottery and Gaming Corporation (OLG) for decades. She enjoys Lotto Max, Lotto 6/49 and Lottario, always adding Encore to her tickets.

Themelis sometimes chooses her own numbers and other times uses OLG’s Quick Pick feature, which paid off.

“I won this prize on additional Quick Pick lines on my Lotto Max ticket,” she shared, while visiting the OLG Prize Centre in Toronto to collect her winnings. “I checked my tickets using the OLG app and saw the ‘Big Winner’ message on the screen. It was so…

The National Company Law Tribunal (NCLT) has dismissed a fresh insolvency plea filed by Exotel Techcom Pvt. Ltd. against Dunzo Digital Pvt. Ltd., noting that the Bengaluru-based hyperlocal delivery startup has already been admitted into the Corporate Insolvency Resolution Process (CIRP).

Exotel, an operational creditor, had moved the tribunal under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking initiation of CIRP against Dunzo. However, the bench observed that Dunzo had already been admitted to insolvency on August 6, 2025, in a petition filed by Velvin Packaging Solutions Pvt. Ltd. in CP (IB) No.36/BB/2024. An Interim Resolution Professional (IRP) has already been appointed in that matter.

The…