Insolvency Guardian Media Centre
Cosmicnode, a Dutch specialist in wireless control solutions for LED lighting and other applications, has gone bankrupt. The company, based at the High Tech Campus in Eindhoven, the Netherlands, had been operating under the radar for years. Just this spring, when it began to present itself more visibly to the market, it filed for bankruptcy.
Curator Reinoud van Oeijen of Holla Legal & Tax in Eindhoven confirmed the news last week. He explained that Cosmicnode itself had filed for bankruptcy and that a potential restart is now being considered. At the time of filing, the company employed only three people, namely its founders.
Although the curator is still studying the details of the case, he already noted that the…
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The amendment seeks to give buyers of distressed assets a clean slate by extinguishing all claims by creditors against a bankrupt company once an insolvency resolution plan is approved, said two persons aware of discussions in the government. This covers claims not specifically provided for in the resolution plan.
A specific provision to this effect has been included in the proposed Insolvency and Bankruptcy Code (Amendment) Bill that’s currently before Parliament, they said, speaking on condition of anonymity.
This, however, will not affect recovery of dues from promoters, managerial personnel, or guarantors in certain questionable or voidable transactions executed…
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Resurgent India files insolvency plea against Future Consumer MSN
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Company behind Lindsey Oil Refinery collapsed owing estimated £1.6bn including huge sum to tax office business-live.co.uk
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Popular mall retailer Claire’s has agreed to sell a portion of its business operations to Ames Watson, pausing liquidation amid its recent bankruptcy, according to a court filing obtained by AL.com.
The sale “will allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world,” the court filing, which was made on August 20, states. Claire’s, which specializes in tween accessories, announced its filing for bankruptcy for a second time in a seven-year span earlier this month. The company will now pause the liquidation of nearly 1,000 stores, though 13 locations, as well as Icing, another brand owned by the company, will still close.
“As we continue through our restructuring…
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Claire’s finds buyer, pauses liquidation sales at most Phoenix stores The Business Journals
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REVEALED: Liquidator appointments for businesses in the Cairns council area for August 26 Cairns Post
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Popular mall retailer Claire’s has agreed to sell a portion of its business operations to Ames Watson, pausing liquidation amid its recent bankruptcy, according to a court filing obtained by AL.com.
The sale “will allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world,” the court filing, which was made on August 20, states. Claire’s, which specializes in tween accessories, announced its filing for bankruptcy for a second time in a seven-year span earlier this month. The company will now pause the liquidation of nearly 1,000 stores, though 13 locations, as well as Icing, another brand owned by the company, will still close.
“As we continue through our restructuring…
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Merchandise specialise Print.Inc Group has gone into voluntary liquidation leaving a seven-figure shortfall.
Filings by director and majority shareholder William Hodson state that on 18 August a special resolution that the firm would be wound up voluntarily was passed, with Roderick Butcher of Butcher Woods appointed as liquidator of Print.Inc Group Limited on the same date.
Leeds-based Print.Inc was formed three years ago after the pre-pack sale of Awesome Merchandise’s assets and IP. The deal was funded by Hodson, who is the father of Awesome Merchandise’s original founder Luke Hodson.
Luke Hodson left Print.Inc in 2023.
Print.Inc offered an array of customised printed and embroidered…
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A specialist in litigation and dispute resolution has warned that Poundland could ultimately wind up in insolvency proceedings despite its rescue deal.
Poundland narrowly avoided administration after the High Court approved a major restructuring plan, but the discount chain has confirmed several stores across the country – as well as its online store and customer loyalty app – will be shut down as part of the shake-up.
The rescue package will inject up to £60m into the retailer, alongside a new £30m overdraft facility and extended loan repayment deadlines.
It comes just days before the business was set to run out of cash and was set to be placed into administration, and also follows the closure of dozens of its UK…
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A specialist in litigation and dispute resolution has warned that Poundland could ultimately wind up in insolvency proceedings despite its rescue deal.
Poundland narrowly avoided administration after the High Court approved a major restructuring plan, but the discount chain has confirmed several stores across the country – as well as its online store and customer loyalty app – will be shut down as part of the shake-up.
The rescue package will inject up to £60m into the retailer, alongside a new £30m overdraft facility and extended loan repayment deadlines.
It comes just days before the business was set to run out of cash and was set to be placed into administration, and also follows the closure of dozens of its UK…