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…
Australian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency. Simon Cathro, Managing Partner at Cathro & Partners, said that the launch of the new offering comes in response to growing demand for personal insolvency work, at a time when the number of companies and…
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…
Two separate Scottish care homes have been declared insolvent this week. Hogganfield Care Limited operates Hogganfield Care Centre, a 44-bed nursing home at 1791 Royston Road, Millerston, Glasgow. Skye Care Limited operates Skye View Care Centre, a 24-bed, specialist dementia centre at 1 Arran Drive, Airdrie. Story continues below Advertisement On 5 June 2023, Mark…
State regulators to discuss Citizens Insurance rate hike If a double-digit rate hike for Citizens Insurance policy holders is approved it would impact one million Floridians. Kellie Cowan reports. TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation will meet Thursday afternoon to discuss proposed rate hikes from state-backed Citizens Insurance. Citizens policyholders could see…
Credit: Peter Wendt / Unsplash. UK fresh produce company MyFresh has entered administration less than one year after its acquisition by potato business Tuber Group. Previously owned by the William Jackson Food Group, MyFresh has hired Conrad Alan Beighton and Dane OHara from Leonard Curtis to act as administrators. The company was declared insolvent on…
Supplied/Stuff FashioNZ was established in August 1998. The owner of online fashion news website FashioNZ, has been placed in liquidation. Beauty Media Ltd was placed in liquidation on May 25, with Heath Gair of Palliser Insolvency appointed liquidator. FashionNZ claimed to be New Zealands first fashion site, launching in August 1998. It changed hands last…
The owners of embattled salmon farmer Nova Austral are scrambling to stave off the threat of insolvency, but executives at the company and industry members paint a bleak picture. Despite Nova Austral recording improved harvests and sales volumes in the first quarter of 2023 compared with the same period last year, the company said “there…