A Metairie-based oil company thats one of the largest independent operators still working in the states shallow coastal waters has filed for bankruptcy protection, leaving dozens of south Louisiana service and supply companies facing potential bankruptcies of their own. Cox Operating LLC executives have blamed the pandemic, OPEC price wars, the hurricanes of 2020 and…
FTX has won permission to redact customer names from filings in its bankruptcy case. The ruling, handed down Friday (June 9) in federal court, came after the bankrupt cryptocurrency exchange persuaded a judge that making their names public could put those customers at risk for identity theft or other scams. It is the customers who are…
The insolvency and bankruptcy cases of real estate companies have witnessed steady progress in terms of resolutions despite several complexities involved including troubled homebuyers in large numbers. The possibility of the government bringing in changes to the code to allow resolution depending on the nature of the projects instead of stipulating one rigid framework for…
Less than one year after its acquisition by potato business Tuber Group, UK fresh produce company MyFresh has entered administration. MyFresh has hired Conrad Alan Beighton and Dane OHara from Leonard Curtis to act as administrators. The company was declared insolvent on 20 April and the deadline to find a buyer is 15 June. Based…
All That Was Left tells the story of Henry Cyril Paget and the Great Anglesey Sales, which saw all he had owned sold to pay his debts. Henry Cyril Paget (1875-1905) succeeded the title of the 5th Marquess of Anglesey and inherited Plas Newydd in 1898 along with about 110,000 a year, which is the…
Investigation The collapse of the cancer care provider has left reputations in tatters. Jun 9, 2023 5.12pm It wasnt meant to end like this. Only four years ago, GenesisCare, the Brisbane-born cancer care provider with more than 400 locations spanning Australia, the UK, US and Spain, had just sealed a $1.5 billion acquisition to conquer…
The National Company Law Tribunal (NCLT) has issued a notice to the Insolvency Resolution Professional (IRP) of crisis-hit Go First over a plea filed by supply chain operator Delhivery. The Delhivery had moved the tribunal on Thursday and said the debt-ridden airline intentionally took payments from them despite knowing that it was filing for…
The government would probably change the insolvency law to permit “customised resolutions” of insolvent residential real estate projects to assure prompt delivery of flats to homebuyers in troubled housing projects, according to a media report by the Economic Times (ET). The proposed revisions to the Insolvency and Bankruptcy Code (IBC) would permit resolution depending on…
A controversial restaurant chain has collapsed just two years after launching in Australia after being mired in controversy. On Monday, a notice was released on ASIC that Viral Ventures (Australia) Pty Ltd had gone into voluntary liquidation. The appointed liquidators are Chris Johnson and Andrew McCabe of insolvency firm Wexted Advisors. Viral Ventures (Australia) Pty…
By John Campbell BBC News NI economics and business editor A Northern Ireland property company is the major commercial partner of an English local council which has effectively declared bankruptcy. Woking Borough Council says it is facing “a serious financial shortfall” and has stopped spending on all non-essential services. The council borrowed 2bn to invest…