Some six months ago, Hyderabad-based Ind-Barath Energy walked out of the Insolvency and Bankruptcy Code (IBC) proceedings with a new buyer, JSW Energy, after nearly four years. Under the IBCs timelines, the process should have taken six months, or a maximum of a year if one factors in litigation. The outcome was equally disappointing, with…
Maarten Holl/Stuff Craft beer brewer Epic Brewing Company is in liquidation. Auckland craft beer brewer Epic Brewing Company has gone into liquidation. Companies Office records show the business was placed into liquidation by a special resolution of shareholders on Tuesday. Damien Grant and Adam Botterill of Waterstone Insolvency were appointed liquidators. Owner Luke Nicholas developed…
Buyers are being sought for Epic after it went into liquidation. Kiwi craft beer brewer Epic Brewing Company has gone into liquidation. Waterstone Insolvency were appointed liquidators by Epics shareholders on Tuesday. Waterstone Insolvency director Adam Botterill told the Herald they were looking for buyers for the brewer. We are running the business as a…
In the first quarter of this year, Scottish corporate insolvencies saw a significant increase of 19.7% compared to the same period last year, reaching a total of 292. This data comes from Scotlands insolvency service Accountant in Bankruptcy (AiB). Additionally, when compared to pre-pandemic levels in 2019, corporate insolvency numbers in Scotland rose by 21.7%.…
Business News Industry People Labels & Publishers Top Stories By Andy Malt | Published on Wednesday 26 July 2023 Following the news that Utopia Musics UK R&D company has called in the liquidators, CMU has now confirmed that the groups Finnish R&D company Utopia R&D Tech Finland OY has also been placed into bankruptcy. Utopia…
Scottish corporate insolvencies rose by 19.7% in the first quarter of this year – to a total of 292 – when compared to the same period last year, while personal insolvencies rose 2.9%. New data from Scotland’s insolvency service Accountant in Bankruptcy (AiB) showed that corporate insolvency numbers in Scotland also increased by 21.7% when…
The insolvency restructuring market in China is undergoing significant transformations in terms of legislation, judicial practice and law enforcement. The momentum of these changes accelerated notably in 2022, propelled by a combination of factors, including: The persistent macroeconomic environment; Chinas pandemic prevention and control policies; and The governments heightened emphasis on optimising the business environment.…
Corporate insolvencies have risen by almost a third with 329 businesses closing their doors in the first six months of 2023. According to the latest insolvency statistics by Deloitte, the figure points to a return to 2019 levels, prior to the implementation of government supports for businesses during the pandemic. In addition, the increase in…
The collapse of yet another Victorian building company , Kleev Homes, has underscored the dramatic plight of the industry in the state. The construction sector in Victoria has seen insolvencies surge by a massive 74 per cent in the past year. Kleeve Homes demise has left creditors owed $3.3 million and proven another kick in…
The latest edition of our weekly Dezeen Agenda newsletter features news that electric bicycle manufacturer VanMoof has been declared bankrupt in the Netherlands. Following the company’s pandemic-time boom, court-assigned administrators are now looking into whether the Dutch company could be restructured or sold so that it can continue operations in the Netherlands. Known for selling sleek high-end…