Mobile application and software developer Buzinga has entered liquidation, with a some clients allegedly left with incomplete projects. SmartCompany understands some businesses working with Buzinga to develop software have been left out in the cold midway through projects, with no indication if they will be resumed. Buzinga Pty Ltd entered liquidation on July 3, with a…
Shareholders pursuing troubled legal firm Slater and Gordon will receive just $36.5 million, after the firm agreed to settle a number of class actions against it. -Key points: Hedge funds will now assume ownership of the 82-year old law firm Directors’ indemnity insurance the only source of funds available from Slater and Gordon $36.5…
Mumbai: In January, Innoventive Industries, a speciality steelmaker based in Pune, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve the country’s $150 billion bad debt overhang. The company, which makes steel tubes and auto parts for customers including Ford, Volkswagen and Tata…
Australia’s biggest cherry exporter, Reid Fruits, is up for sale and an overseas buyer is a “possibility”, owner Tim Reid says. The Tasmanian-based family-owned company makes up about 10 per cent of Australia’s cherry industry and is the country’s leading exporter into Japan, Korea, Thailand and India. Last year marked the company’s 160th anniversary…
By Devidutta Tripathy and Euan Rocha | MUMBAI MUMBAI In January, Innoventive Industries, a speciality steelmaker based in western India, was forced into the bankruptcy court by its lenders, testing for the first time new insolvency rules that aim to resolve India’s $150 billion bad debt overhang. The company, which makes steel tubes and auto…
Shareholders in Slater and Gordon have reached a $36.5 million settlement with the beleaguered law firm, a move that will pave the way for the group’s restructure. Slater and Gordon’s insurers will tip in $32.5 million of the settlement while the hedge funds that hold the debt in the group, which will be swapped for…
Green-Light International has declared bankruptcy following a blistering arbitrators ruling that found that the foreign sales agent committed acts that bordered on criminal fraud. The company was accused of pocketing $410,000 from distributors that should have gone to a collection account, and using the money for salaries and a lavish post-Cannes Film Festival vacation in…
Credit: Bloomberg News Most Popular Jawbone is liquidating, though its CEO is starting again with a company that moves out of the fitness-tracker business in favor of health-related products, an area that deeper-pocketed rivals also are entering. Founded in 1999, Jawbone was once a darling of Silicon Valley and regarded as a pioneer in wearable…
U.S. Businesses Restructuring Operations to Reap Future Financial Success Automation, cloud services and Big Data are rapidly transforming the business-critical function, allowing finance executives to feed in real-time updates to forward plan and steer the direction of a business. Finance executives are increasingly using data analytics when it comes to accounting. The ability to convert…
Written by Khushboo Narayan | Mumbai | Published:July 11, 2017 2:57 am Representational image The Chandigarh bench of the National Company Law Tribunal (NCLT) has issued a notice to Amtek Auto in connection with the petition filed by Corporation Bank against the firm under the Insolvency and Bankruptcy Code. The tribunal has told Amtek Auto…