Appster may have traded while insolvent and made $750,000 in concerning payments, liquidator claims – SmartCompany.com.au

Liquidation

The liquidator for collapsed app-development business Appster is rallying creditors to pursue legal action against founders Mark McDonald and Josiah Humphrey, alleging they traded while insolvent. Releasing an anticipated statutory report into the affairs of Appster on Tuesday, liquidator Paul Vartelas revealed the once-upon-a-time market darlings financial position had been worsening for several years prior…

Retail, food sectors see spike in corporate insolvency | My Business – My Business

Liquidation

We havent been imagining it retailers, along with the accommodation and food sectors, have seen a spike in corporate insolvency appointments over the last 12 months, an insolvency specialist has confirmed. The accommodation and food services industry saw a 21 per cent spike in corporate insolvency appointments over the 2017-18 financial year, while the retail…

GM restructuring: Production ending at Ohio plant this week as last Chevy Cruz rolls off line – The Japan Times

Restructuring

TOLEDO, OHIO – General Motors will end production this week at the first of five North American plants it wants to close by early next year as part of a companywide restructuring. The last American-made Chevrolet Cruze will come off the assembly line Wednesday at GMs sprawling Ohio assembly plant near Youngstown, GM spokeswoman Kim…

Insolvency and Bankruptcy Code: Govt says trustees too can approach IBC against corporate debtors – The Financial Express

Liquidation

Analysts said the MCA notification helps clear the ambiguity regarding who can approach NCLT for CIRP. The government has allowed trustees, estate administrators, persons authorised by a companys board of directors etc toinitiate corporate insolvency resolution process (CIRP) against a corporate debtor before the NCLT, on behalf of financial creditors under the Insolvency and Bankruptcy…

Carlyle Group backs Nordam restructuring efforts – Flightglobal

Restructuring

Carlyle Group is to provide funding to restructuring US-based Nordam to enable the aerostructures manufacturer and repair provider to emerge from Chapter 11 bankruptcy protection. But the Siegfried family, which founded and still owns Nordam, will continue as a shareholder of the Tulsa-based company. The Siegfried family will retain its 50-year ownership and oversight of…

Corporate insolvency: Charter of responsibilities for IRPs, CoC unveiled – BusinessLine

Liquidation

The Insolvency and Bankruptcy Board of India (IBBI) has come up with a charter of responsibilities for Insolvency Resolution Professionals (IRPs) and Committee of Creditors (CoC) so that stakeholders have a complete and clear understanding of their roles and responsibilities in a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). This…

Vision Gelpack Goes into Voluntary Administration – EIN News

Liquidation

Vision Gelpack Goes into Voluntary Administration – EIN News Trusted News Since 1995 A service for global professionals Monday, March 4, 2019 478,230,744 Articles 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions? … Read the full article at: https://www.einnews.com/pr_news/478198192/vision-gelpack-goes-into-voluntary-administration