Category Archives: Liquidation

Topshop Australia goes into voluntary administration amid mounting debts – The Sydney Morning Herald

High-profile fashion retailer Topshop Australia has collapsed under debts and entered voluntary administration, with the future of its stores and workers under a cloud. Administrator James Stewart, of Ferrier Hodgson, said the company would continue to trade as normal while it considered its “optimal operating structure”. Topshop Australia franchisee Hilton Seskin. Photo: Simon Schluter “It will…

Ex Deputy CAG among 3 whole-time members of Insolvency and Bankruptcy Board of India – The Indian Express

By: PTI | New Delhi | Published:May 23, 2017 4:57 pm Former Deputy CAG Suman Saxena and two others have been appointed as whole-time members in Insolvency and Bankruptcy Board of India (IBBI). Apart from Saxena, Mukulita Vijaywargiya and Navrang Saini have also been appointed as the new members, Ministry of Corporate Affairs said in…

Peppa Pig owner sees profits dip amid restructuring of film arm – Belfast Telegraph

Peppa Pig owner sees profits dip amid restructuring of film arm BelfastTelegraph.co.uk Peppa Pig owner Entertainment One has seen annual profits dive by 22% after taking a £47 million hit from restructuring its film arm. http://www.belfasttelegraph.co.uk/business/news/peppa-pig-owner-sees-profits-dip-amid-restructuring-of-film-arm-35745707.html http://www.belfasttelegraph.co.uk/business/news/article35745706.ece/9f9cc/AUTOCROP/h342/PANews%20BT_P-73288d77-44dd-48cb-bb30-d04e3f4656a4_I1.jpg Email Peppa Pig owner Entertainment One has seen annual profits dive by 22% after taking a £47 million…

Sony chief says major turnaround complete – TheBull.com.au

Sony chief executive Kazuo Hirai on Tuesday hailed a years-long company restructuring as a success, but said struggles in its movie business remain a “pressing issue”. The 56-year-old company veteran was tapped five years ago to lead a major overhaul at the once-iconic company, which was suffering from huge losses largely tied to a hard-hit…

Diploma maintains faith despite liquidation order – Business News

UPDATE: Diploma Group boss Nick Di Latte says the company will continue to push forward with its proposal to revive the company and provide a return to creditors, after provisional liquidators were appointed to 20 Diploma-related entities today. Justice Neil McKerracher of the Federal Court today lifted a stay on the appointment of liquidators from…

Plutus accused Simon Anquetil had phoenix activity form – The Australian Financial Review

Simon Anquetil, one of the accused co-conspirators in the $165 million fraud against the Australian Tax Office, previously engaged in phoenix activity and alleged fraud as part of his role in his former IT company. EStrategy Group, which was wound up by the court in 2013 owing more than $200,000 to the ATO and American…

Wicked Travel goes bust, owing $1.5 million – NEWS.com.au

Wicked Travel promised the trip of a lifetime, but its gone bust leaving backpackers out of pocket. A TRAVEL agency known for its aggressive sales techniques has gone bust, leaving holiday-makers thousands of dollars out of pocket. Wicked Travel has been placed into administration, owing about $1.5 million to suppliers, customers and staff, according to…

Liquidation looms for collapsed Diploma – The West Australian

A Federal Court judge could place Diploma Group into provisional liquidation as early as Monday following the termination of a property development deal. The administrators from accounting firm Grant Thornton have told creditors of the collapsed builder-developer claiming about $60 million that they may not get a chance to vote on the companys future Justice…

Insolvency and Bankruptcy Code: Here’s why resolution must be strictly time-bound – Financial Express

Consider corporate insolvency resolution process (CIRP). If a corporate becomes insolvent, a financial creditor, an operational creditor, or the corporate itself may initiate CIRP. As stated in its preamble, the Insolvency and Bankruptcy Code, 2016 (Code) provides for re-organisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximisation…

$2m collapse: Building industry supplier in liquidation – The Queensland Times

A BUILDING supplies company which traded successfully in Townsville for 30 years has collapsed into liquidation with debts of close to $2 million. Robert Humphreys and Moira Carter of BRI Ferrier were appointed liquidators to Nu-Lite Glass & Aluminium on April 27 and convened the first creditors meeting in Townsville this week. Mr Humphreys said…