Liquidation is a term that many business owners are likely to have come across and, in some unfortunate cases, may even be familiar with. In this article, weve taken a closer look at what liquidation means, the different types of liquidation, and more. The meaning of liquidation Generally, the term liquidation is used to describe…
The term fugitive has been made popular by the media. A bank or financial institution declares someone bankrupt when they are unable to repay the amount borrowed as a loan for a long time. While we all love to stay updated with the latest happenings around the world, it sometimes happens that we are not…
May 30, 2023 2.09pm The founder of streaming business SportsFlick has been bankrupted for failing to pay baby formula manufacturer Care A2 Plus nearly $2 million. Earlier this year Care A2 Plus, which is working towards a possible ASX compliance listing, lodged a creditors petition in the Federal Circuit Court alleging Dylan Azzopardi owed it…
Court adjourns insolvency bid against India’s SpiceJet 29.05.2023 – 06:09 UTC India’s National Company Law Tribunal (NCLT) has again adjourned an insolvency application lodged by Aircastle against SpiceJet. On May 25, the Delhi bench of the NCLT deferred the matter of Aircastle (Ireland) Limited vs SpiceJet Limited to June 1. It was the second adjournment…
May 30, 2023 Full house: Kyabram Plaza Theatre was full when Banksia Securities investors turned out in force a decade ago to be updated on the failed financial group. Photo by Neil Saunders Eleven years after the collapse of the Banksia Financial Group receivers acting on behalf of investors in the failed Kyabram company are…
Business insolvencies remain at worryingly high levels and North East firms may yet feel the fallout of recent economic shocks. Analysis of the latest corporate insolvencies figures by the North East arm of restructuring trade body R3 shows that while there has been a month-on-month drop of almost a third between March and April –…
Real estate comprises a significant portion – more than a fifth – of filed insolvency cases, although approved resolution plans total only 13%, a study by Grant Thornton Bharat showed. Out of 2,298 Corporate Insolvency Resolution Process (CIRP) cases under the Insolvency & Bankruptcy Code, 518 are related to real estate. Surprisingly, only 78 out…
Join the most important conversation in crypto and web3! Secure your seat today Belgian cryptocurrency lending platform Bit4You has suspended its operations after one of its service providers, CoinLoan, was declared insolvent by a court in Estonia. Bit4You learned of CoinLoan’s insolvency on April 24, and that it no longer has necessary registration as a…
(ES Composte) Times are tough right now, thats for sure, and British households have shown remarkable resilience of late. But this resilience is being tested to the max and with very little more to give. This week saw the release of our latest Consumer Lending Newsflash, examining current trends across the entire UK open market…
He found that the director, Gregory Swartz, had a long history with operator licences. The Traffic Commissioner heard that Mr Swartz had previously been the director of a company revoked at public inquiry in 2014, then the director of another operator which had offered to surrender its licence in October 2022. This company, GMAKX Ltd,…