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VFX and post-production business Cutting Edge has officially entered into a Creditors’ Voluntary Liquidation, less than a year after being announced as one of the first recipients of the Queensland Government’s $5 million Capital Grants program.
According to a public notice from the Australian Securities and Investments Commission (ASIC), the company was placed into liquidation on June 27, with the decision to wind up the company made following a resolution passed at a general meeting of the members held on the same day. William Paul Cotter, from Robson Cotter Insolvency Group, has been appointed as the liquidator tasked with overseeing the process.
The tribunal rendered these observations while rejecting an application filed by the resolution professional (RP) of Shakti Bhog Snacks Limited under Section 54 of the IBC, seeking dissolution of the company on the ground that there are no assets, no ongoing business operations and no scope for its revival.
The RP said that continuation of the Corporate Insolvency Resolution Process (CIRP) or initiation of liquidation would be futile and economically unviable.
However, the Enforcement Directorate (ED) opposed the plea, stating that the company and its ex-official are accused in the money laundering case related to the ₹3,269 crore loan fraud case and the PMLA proceedings are pending against them.
Increased HMRC activity could be causing the recent rise in Scottish company liquidations, according to an Aberdeen insolvency specialist.
New figures from Creditsafe showed 141 new Scottish administrations and liquidations in May – the highest number since December 2022 when 142 cases were recorded.
Michael Reid, Aberdeen-based partner and insolvency specialist at MHA, one of the UK’s largest accountancy practices, believes the Creditsafe data may well highlight increased HMRC action following a lull in them pursuing companies during the Covid epidemic.
One impact of the increased number of company insolvencies is scrutiny of the Covid Bounce Back loan scheme. The scheme…
07/02/2025, Balby, Doncaster // PRODIGY: Feature Story //
Nexus Corporate Solutions Limited continues to be a trusted partner for UK businesses facing financial difficulties. Based in Doncaster, the company offers professional insolvency advice and tailored solutions to help directors and stakeholders navigate periods of corporate distress.
One of the core services of Nexus Corporate Solutions Limited is company administration, a strategic solution for restructuring insolvent businesses. Acting as the appointed administrator, Nexus guides clients through the entire process, helping safeguard the business, protect its assets, and lay the foundation for a successful recovery.
The tribunal rendered these observations while rejecting an application filed by the resolution professional (RP) of Shakti Bhog Snacks Limited under Section 54 of the IBC, seeking dissolution of the company on the ground that there are no assets, no ongoing business operations and no scope for its revival.
The RP said that continuation of the Corporate Insolvency Resolution Process (CIRP) or initiation of liquidation would be futile and economically unviable.
However, the Enforcement Directorate (ED) opposed the plea, stating that the company and its ex-official are accused in the money laundering case related to the ₹3,269 crore loan fraud case and the PMLA proceedings are pending against them.
Noel Edmonds made his millions in TV and radio.
Picture:
Alamy
Noel Edmonds has made a fortune over his 50-year career but not without his ups and downs – here we explore his net worth, bankruptcy and the story behind his inspiring knight statue.
Noel Edmonds is returning to TV screens this summer to give fans a glimpse into his brand new life in New Zealand.
The telly icon, 76, relocated to the South Island and bought £14.5million of property in an area called Ngātīmoti to set up his vision – a tiny town featuring a cafe, pub, vineyard, wellness centre, general store and coffee shack.
Nourisher, which produces locally-sourced yoghurts, soups, and tray meals, is facing a resolution to wind up the company.
The products made by the firm, which is based in Calmore Industrial Estate, were supplied to major supermarket chains, including Aldi and Tesco.
The company employs around 100 staff, many of whom live in Totton and its surrounding areas.
Team leader Alan Morgan has been with the company for six years. As a result of not being paid following the administration has been struggling to put food on the table.
He said: “Totally devastated after six years.
“We had a text saying don’t come into work until further notice.
“Then we were told that they were looking for an administrator, then they…
What The News described Tuesday as ‘$8 million worth of financial problems’ has reportedly left Beasley in serious debt despite signing $59 million worth of NBA contracts over his career.
Beasley was considering a three-year $42 million deal to return to the Detroit Pistons when the team pulled the offer amid the federal probe, according to the Detroit News. Daily Mail has reached out to team spokespeople for confirmation.
He was sued on April 18 by his former agency, Hazan Sports…
