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Melbourne’s first “hatted” lasagne restaurant, 1800 Lasagne, has collapsed into voluntary administration. Todd Gammel and Matthew Levesque-Hocking of accounting advisory
An Indian-origin businessman who sold seven historic cars, including two Jaguars and three Rolls-Royces, for just GBP 1 to another company he controlled has been disqualified from holding a company directorship for six years following an investigation by the UK’s Insolvency Service.
Kulbarg Singh from Staffordshire in the West Midlands region of England was the director of Aldridge Construction Engineering Ltd when he entered into an asset purchase agreement with Ace Earth Solutions Ltd in 2021.
According to the Insolvency Service this week, at least GBP 1.5 million of company assets were sold, with Aldridge Construction Engineering Ltd entering liquidation the following year.
Among the “under-priced sales” identified in the probe…
A businessman who sold seven classic cars for just £1 to another company he controlled has been banned from being a director for six years.
Kulbarg Singh, 62, was director of Aldridge Construction Engineering Ltd when he sold all the company assets to Ace Earth Solutions Ltd, of which he was also a director, in 2021, before the former entered liquidation a year later.
The Insolvency Service said Singh, of Haselour Lane in Harlaston, Staffordshire, sold the assets for more than £465,000 – much less than their £1.5m value.
The seven cars, which had a combined value of £101,500, were two Daimlers from 1936 and 1965, two Jaguars from 1969 and 1978 and three Rolls Royce from the 1970s.
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Tuesday barred the interim resolution professional (IRP) of bankrupt Gensol Engineering Ltd from leasing out 152 electric vehicles (EVs), following a plea by SMAS Auto Leasing India Pvt. Ltd, which had originally leased the vehicles to Gensol before it entered insolvency.
The order came after the IRP issued a public notice inviting bids to lease pre-owned EVs at a fixed monthly rental, prompting SMAS to move the appellate tribunal.
A bench led by chairperson Justice Ashok Bhushan ruled that the IRP cannot lease or dispose of the 152 EVs, which are currently under the custody of court-appointed receivers. The tribunal observed that the original lease agreements had expired…
It’s now the end of the road for XL Express. Image: Scott Donkin/adobe.com
Brisbane-based XL Express, which went into voluntary administration in late June, has now gone into liquidation with more than $40 million in estimated debts.
XL Express appointed FTI Consulting on June 27 to conduct an “urgent assessment” of the company’s viability, which also includes 17 other entities under the company’s brand.
The group’s 200 employees were stood down after XL Express was locked out of its Smithfield premises in Sydney’s west in late June, due to rent not being paid, according to its administrators
An ASIC notice on Monday, August 4, confirmed creditors had voted to wind…
The dust refuses to settle between the City of Windhoek and its residents in the Katutura area.
The municipality continues to ignore calls to end its controversial contract with RedForce Debt Management.
It has also rejected a universal municipal debt write-off for pensioners.
The Khomas Ratepayers and Residents Association has written to Urban and Rural Development Minister Sankwasa James Sankwasa.
They are requesting urgent intervention in what they see as a growing crisis impacting low-income residents.
The association claims that the debt collection deal with RedForce was entered into without proper council approval, and that its contract, ending on 31 July 2025, should not be renewed.
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Melbourne’s first “hatted” lasagne restaurant, 1800 Lasagne, has collapsed into voluntary administration.
Todd Gammel and Matthew Levesque-Hocking of accounting advisory group HLB Mann Judd were appointed as external administrators on July 30.
The beloved Thornbury restaurant, which began as a lasagne-delivery service out of founder Joey Kellock’s home during the pandemic, shared the news in a “heartfelt message to our amazing staff, suppliers and loyal community” on Tuesday.
“1800 Lasagne has entered into voluntary administration and we are working closely with the administration team to streamline and re-structure our model to ensure we take the best steps while moving forward,” an Instagram post read.
Many iconic retail brands have experienced ups and downs in recent years. Some have disappeared from the map, while others are struggling to reinvent themselves and reconnect with their customers. In this context, the return of a very popular chain in the US has caused great anticipation.
After filing for bankruptcy in April 2023, the iconic store specializing in home products is making a strong comeback to brick-and-mortar stores. It’s doing so under a new name and after a restructuring that included a merger with Overstock. Now, the brand that many knew as Bed Bath & Beyond will be Bed Bath & Beyond Home.
