Insolvency Guardian Media Centre
Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
- One of the issues in Reiscor Two (Pty) Ltd t/a Bootleggers v Anheuser-Busch Inbev Africa (Pty) Ltd and Others (2022/2731) [2024] ZAGPJHC 363; [2024] 2 All SA 902 (GJ); 2025 (1) SA 315 (GJ) (11 April 2024) (Bootleggers) was whether section 34 of the Insolvency Act 24 of 1936 applies to the disposal of a business by a company which is a trader in terms of an approved business rescue plan.
- Ultimately, the court in Bootleggers concluded that the simultaneous application of section 34 to a company in business rescue would lead to anomalies and absurdities that could not have been intended.
- The finding that section 34 does not pose an obstacle to the acceptance of a business rescue plan and does not apply to a company in business…
Read the original article here
Marked drop in company insolvencies in Northern Ireland, data shows MSN
Read the original article here
Skip to main content
Read the original article here
Supertech delivers 6,000 homes amid insolvency, 15,000 still pending propnewstime.com
Read the original article here
US financial and risk advisory firm Kroll has acquired Kirby Healy, the Dublin-based corporate insolvency practice.
As a result of the deal, Kroll expects to significantly expand its restructuring capabilities and double the size of its team in Ireland.
Kirby Healy staff will be absorbed by Kroll’s existing operations, which offer services in fraud and white-collar crime investigations, forensic accounting, litigation support, expert testimony, matrimonial dispute work and shareholder dispute resolution.
“We are delighted to welcome Kirby Healy to the team today whose expertise will be instrumental as we continue to grow in Ireland and across Europe,” said Declan Taite, managing director at Kroll.
“Geopolitical tensions…
Read the original article here
The Delhi High Court has asked the Centre to revisit its bid conditions that impose blanket ban on the companies having undergone corporate insolvency resolution process in the last seven years from participating in the government tenders.
It said that while the courts cannot introduce or delete any tender condition, the government as also the tender issuing authority must examine the issue.
“…while formulating the tender conditions, the tendering authority should not…
Read the original article here
There were 14 company insolvencies registered in Northern Ireland in July, which was down 30% on the same month last year, data from the Insolvency Service shows.
The total number of company insolvencies was comprised of one compulsory liquidation (this happens when a company is forced to close when it cannot pay money owed to creditors), 10 creditors’ voluntary liquidations (CVLs) and three company voluntary arrangements (CVAs).
There were no administrations or receivership appointments, the data shows.
It was the lowest monthly total in Northern Ireland since August 2024, when 11 firms went under.
So far this year there have been 200 insolvencies registered in the north, with most coming in May (53) and April (30).
The running annual…
Read the original article here
Retailer Smiths City has “temporarily” closed all of its stores after being placed in voluntary administration.
Smiths City staff were called into a meeting at 9am on Tuesday and informed of the decision.
All nine remaining Smiths City stores across New Zealand and its online shop have now been “temporarily closed for business” to assess the business’s financial situation.
BDO New Zealand has been appointed as the administrator.
BDO said in a statement it aims to “reopen stores later this week”.
“Despite closures of some stores and further downsizing measures, declining sales meant that the director of the company took the decision that trading could no longer continue,” BDO said.
“The voluntary administration process aims…
Read the original article here
THE BRITISH and Irish Lions tour to Australia helped wipe out Rugby Australia’s crippling debts and allowed them loom at creating a new investment fund for the sport down under.
The Lions tour is expected to generate around $100 million Australian dollars (€55m) which will help lift the dark financial clouds over rugby in Australia and help RA plan properly and creatively for the Rugby World Cup, which it hosts in 2027.
reported that the governing body owed $63.5m to Pacific Equity Partners as part of an $80 million loan provided in 2023 when rugby union was in a deep financial hole. RA chief executive Phil Waugh and chief financial officer Richard Gardham said they had paid off the last of…
Read the original article here
By Drew Dietsch
| Published
The Toxic Avenger remake is out in theaters right now. Since it was an unrated release on just under 2,000 screens, it didn’t exactly bust the box office wide open. The scuzzy sendup of superheroes opened in the #11 spot and only managed to take in $2.2 million over the Labor Day weekend. But, I’m going to make a point to go see The Toxic Avenger in the movie theater because the folks behind the film’s distribution have done something so amazing that it can only be described as heroic.
Instead of spending their $5 million marketing budget on more TV spots or talk show appearances, Cineverse and Bloody Disgusting took…
Read the original article here
A petition to wind up Sizzler Pizza Ltd, which trades from 19 Church Street in Wellington, was lodged by creditors in August, before the firm went into voluntary liquidation on August 20.
The take-away offers a range of kebas, pizzas and American style “smash burgers” along with sides, milkshakes and deserts, and also sells via home delivery giants Deliveroo and Just Eat.
The Birmingham-registered business has traded from the premises since 2021, have previously been the site of La Rosa italian restaurant, which closed in 2015.
According to a statement of affairs posted to companies house by liquidators, the firm owes around £57,000 to HMRC, and has no fixed…
Read the original article here
Newtown Creative Ltd traded under the name Teals Prairie International, advertising as “expert gift builders”.
It sold products such as personalised wooden boxes through Amazon and Etsy.
But during a meeting on August 4 at its principal address in Saltpans, Charlestown, it was decided that the company would be voluntarily wound up.
Joe Whiley, of Insolvency Direct Limited in Cheltenham was appointed as liquidator.
Liquidation is the process of closing a limited company, selling the assets to pay off debts and dissolving the company from the official register at Companies House.
The business will stop trading and employing people, although as off 2024 there was only one person working for Newtown Creative.