A string of companies linked to a heating and cooling business have collapsed in recent months, leaving customers and staff in the lurch. News.com.au can reveal that eight companies which made up Victorian-based business Pact Services Group collapsed into liquidation two months ago. Pact Services has been around as a whole for nearly 50 years,…
Efficiency and staying connected is important for businesses which is why interoperability makes the world (and computers) go round. An interoperable system benefits users by streamlining operations and reducing the need for custom integration solutions, not only saving on costs but decreasing the administrative workload. Additionally, interoperability can minimize errors by enabling different systems to…
Article 0 Comments R&Q Insurance Holdings Ltd. warns it is facing growing financial difficulties, which could affect the companys stability as a business and ultimately lead to liquidation. In a June 13 statement, R&Q acknowledges it has been struggling under the weight of adverse loss development in its core legacy acquisition business, unexpected costs and…
The owner of some of London’s best-known restaurants, including The Wolseley, has called for fresh help from restructuring advisers more than two years after its parent company emerged from administration. Sky News has learnt that Minor Hotels has drafted in AlixPartners to advise on cashflow issues at Wolseley Hospitality Group. The project is said to…
Global law firm Ashurst has expanded its Perth office with the appointment of Richard Johnson and Kirsten Scott as partners. Richard will join the firm as a Restructuring and Special Situations Group (RSSG) partner and Kirsten will join as an Investigations partner in the Employment team. Their appointments highlight Ashurst’s commitment to enhancing its service…
A proposal to reduce HECS debt for lawyers relocating to rural, regional and remote areas has the potential to transform the accessibility of legal services for these underserved communities. A request has been made to the Commonwealth government urging the implementation of an initiative aimed at reducing Higher Education Contribution Scheme (HECS) debt for legal…
3 min read Last Updated : Jun 13 2024 | 1:22 PM IST Jaypee Infratech Ltd (JIL), now under the management of the Mumbai-based Suraksha Group, has appointed Devang Pravin Patel as its Chief Financial Officer (CFO) to begin the delisting of its shares from stock exchanges. The appointment was effective from June 8, 2024,…
The National Company Law Tribunal (NCLT) in Mumbai has admitted the Prudent ARCs application to initiate personal insolvency resolution proceedings against Mahesh R Shetty, promoter of the listed coaching firm MT Educare, formerly known as Mahesh Tutorials, for a Rs 16.64 crore default by the company. Shetty was a personal guarantor against these loans.The tribunal…
Vertical farming company Infarm has been declared bankrupt in the Netherlands, according to official documents. The news comes after the company closed operations across its key markets in the UK, France, Germany, the Netherlands and Denmark over the last year, completely exiting the European market. At the end of last year, Infarm laid off more…
A 135-year-old pub that was forced to close its doors permanently has still fallen into liquidation. The Carringbush Hotel, which was based in Melbourne, was shuttered at the start of June with the pub groups owners citing horrendous expenses, adding they would need to charge a whopping $20 for a beer to survive. However, news.com.au…