Insolvency Guardian Media Centre
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Hiremaster was often used to supply furniture and decor to weddings. (File photo)
Photo: bondvit/123RF
The liquidation of Wellington event equipment hire company Hiremaster has sparked concerns for event planners.
Hiremaster went into liquidation on August 14 after more than 70 years in business.
David Ruscoe and Adele Hicks of Grant Thornton were appointed as liquidators and were understood to be looking for a buyer for the company.
Hiremaster was established in 1948 as “Tea Services Limited” supplying catering services, tea merchant and servicing industrial cafeterias. The company eventually transitioned away from the catering and industrial cafeteria work and had been operating as Hiremaster for the past 30 years.
Britt…
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The National Company Law Tribunal (NCLT) has officially initiated the Corporate Insolvency Resolution Process (CIRP) against real estate developer Mahagun (India) Private Limited. The decision, pronounced on August 5, 2025, comes after the company failed to repay a significant outstanding debt of over ₹260 crore.
The application to the tribunal was filed by IDBI Trusteeship Services Limited, acting as the debenture trustee for Asia Real Estate II India Opportunity Trust. The debt originates from secured, senior, unlisted, non-convertible debentures that Mahagun had issued in December 2020. The document reveals that IDBI Trusteeship Services had extended a secured debt and facility by subscribing to these debentures,…
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The Chandigarh Bench of the National Company Law Tribunal recently admitted a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Palchan Bhang Power Private Limited (PBPPL), initiating the Corporate Insolvency Resolution Process (CIRP).
The plea was filed by entities who claimed to be financial creditors of the company, namely, Ashirwad Agarwal, Sreedhar Ramakrishnan, Gurpartap Singh Mann, Triimech Power Pvt. Ltd. and Rising Sun Power Pvt. Ltd.
The dispute pertained to promoter and inter-corporate loans advanced to the respondent-corporate debtor between 2011 and 2014 for the development of the Palchan Bhang Hydro Electric Project. A Board Resolution dated 18 March 2011 had stipulated…
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Business Debt Ninjas helps small businesses reduce Merchant Cash Advance (MCA) debt by up to 80% without new loans or upfront fees, offering a quick path to financial relief for struggling entrepreneurs.
— The MCA Challenge Facing Small Businesses
Small businesses across the United States are encountering significant challenges due to Merchant Cash Advances (MCAs), which are marketed as quick solutions for cash flow issues. While they promise fast access to funds, these advances often come with high interest rates, sometimes exceeding 200% annually, and daily automatic withdrawals from business revenue. As a result, many business owners find themselves stuck in a cycle of increasing debt, unable to make…
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NCLAT clears insolvency for Supertech Realtors’ Supernova project in Noida Prop News Time
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Emergency housing moteliers go bankrupt Stuff
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The Chennai bench of the Debts Recovery Tribunal(DRT) directed to admit application filed by financial creditor under section 126 (1) of the Insolvency and Bankruptcy Code, 2016 (IBC) on observing that Tribunal being the Adjudicating Authority had rejected the repayment plan under Section 114, the debtor and the creditors are entitled to file an application for bankruptcy under Chapter IV.
KEB Hana Bank, the applicant filed application under Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 to initiate Insolvency Resolution Processas against the personal guarantor to the Corporate Debtor…
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Navigating Singapore’s Economic Headwinds: Why Insolvency Protection is No Longer Optional Singapore Business Review
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Aussie influencer’s fashion brand collapses into administration msn.com
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Top Shelf International Holdings Limited (TSI), an ASX-listed company (ASX: TSI), has announced the appointment of voluntary administrators. Top Shelf International cultivates, distills, and markets premium Australian spirits. According to an ASX announcement released on August 18, 2025, Rob Smith and Matthew Hutton, partners of McGrathNicol, have been appointed as joint and several administrators of Top Shelf International Holdings Limited and its wholly owned subsidiaries, collectively referred to as the TSI Group.
The administrators have taken control of the TSI Group, and their immediate focus will be on maintaining business operations as usual. The administrators plan to explore options for a going concern sale or…
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Insolvency appointments August 2 to 15 2025 businessnews.com.au