The Supreme Court of India (Supreme Court) in Mobilox Innovations Private Limited v Kirusa Software Private Limited (Mobilox v Kirusa) has finally settled the widely debated question of what constitutes existence of a dispute in the context of applications filed by operational creditors for initiation of corporate insolvency resolution process (CIRP) of corporate debtors under…
SIX former workers at liquidated Trend Interiors Carpet Court Mackay will end up thousands of dollars out of pocket unless government regulators step in, says the woman tasked with managing the fallout of the failed company. But the company’s liquidator BRI Ferrier principal Moira Carter is not optimistic the ASIC will give worker welfare priority,…
ICICI Securities has approached the National Company Law tribunal (NCLT) against the ailing media house Deccan Chronicle Holdings a few weeks after Canara Bank took the company to the tribunal initiating insolvency proceedings and seeking directives to interim resolution professional (IRP) to recover dues. ICICI Securities, which originally claimed Rs 125 crore dues from Deccan…
The principle view in filing the instant petition is that lakhs of homebuyers in thousands of projects can lose their life-savings, hard-earned money and moneys obtained through bank/institutional loans due to the operation of Insolvency and Bankruptcy Code, the plea said At a time when home buyers Vs builders cases are piling up in the…
AdvertisementThe U.S. Bankruptcy Court issued a revised order converting Constellation Enterprises Chapter 11 reorganization case to a liquidation under Chapter 7. Advertisement The order states, The Debtors chapter 11 cases shall be convertedto cases under chapter 7 of the Bankruptcy Code, effective on October 2, 2017 at 5pm. (the Conversion Dat……
Local energy producer Empire Oil & Gas has entered voluntary administration today, two weeks after receivers took control of subsidiary Empire Oil, which operates the companys key Perth Basin assets. Peter McCluskey, Martin Jones and Andrew Smith of Ferrier Hodgson have taken control of Empire Oil & Gas, which produces about 10 terajoules of gas…
As first revealed back in June, Australian commercial TV network Channel Ten is financially up shit creek having entered voluntary administration, and now the specifics of the expected fall out are coming to light. The Daily Tele has the exclusive goss on whats looking likely to go down over at the embattled network, with some…
CHANNEL Ten has hit back at claims its preparing to swing the axe through a host of its Australian-made TV shows, under a secret plan to claw back millions of dollars. The troubled network was placed into voluntary administration back in June, with US entertainment giant CBS winning the support of the Tens creditors committee…
Rebecca McDonald / 28 September 2017 Victoria’s Education Department has confirmed a local private training provider has gone into voluntary administration. The Complex Institute of Education has suspended all classes across its Victorian campuses, including its Geelong branch in Moorabool Street. Students remain in limbo after being told by the company they will find out…