The sale of assets as a going concern under liquidation is very similar to a Resolution Plan during the insolvency and resolution process. By Nitin Jain The main objective of the Insolvency and Bankruptcy Code 2016 (IBC) is to maximize value for the creditors. Keeping in line with this objective, the regulator through an amendment…
Qantas arguments, that the choice of jurisdiction was not clear had no link to Singapore and that a hearing in Australia would be more convenient to all, also faced derision. The choice of jurisdiction is clear, Justice Hammerschlag said. There is no challenge to the jurisdiction of Singapore … that the proceedings have to be…
NO liquidation appointment notices have been listed for businesses in the Ipswich Local Government Area so far today. The total for the past year is eight. News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state. Queensland-based companies operating without an ABN were omitted from…
The committee behind the JM Kelly Builder company liquidation is due to meet next week to discuss the recovery actions. The Rockhampton-based major building firm went bust in October 2018. At the time, JM Kelly had received the contract for the construction of Aldi and multiple workers walked off site. The liquidation saw the loss…
news, local-news, bexley bowling club, The Order of the Australian Hellenic Educational Progressive Association (AHEPA) NSW Inc, voluntary administration, cor cordis, administrators, creditors The Administrators of Greek community group, The Order of the Australian Hellenic Educational Progressive Association (AHEPA) NSW Inc, have paid a dividend to the majority of creditors to the sum of over…
Published 18 March 2021 Michael Reid Michael Reid, managing partner at Meston Reid & Co, gives his take on how changes to insolvency law could come into play for one key industry sector the fishing industry. Whether it is the continuing impact of Covid-19 or the more recently reported effects of Brexit, media comments proliferate…
WHAT is the future of Lithgow Aged Care? That’s the question that’s been circulating throughout the community for weeks and after Tuesday nights (March 16) meeting, there may be more questions to come. The Board of Lithgow Aged Care has elected to put the nursing home facility into voluntary administration. So what happens now? The…
NO liquidation appointment notices have been listed for businesses in the Rockhampton Local Government Area so far today. The total for the past year is four. News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state. Queensland-based companies operating without an ABN were omitted from…
This article summarises the findings of the High Court in Re gategroup Guarantee Limited [2021] EWHC 304 (Ch) (Re gategroup Guarantee Limited) and provides a view of its effects on the cross-border application of the Restructuring Plan (defined below) and the use of co-obligor structures in restructurings. IN DEPTH The Restructuring Plan The UK restructuring…
Last May, struggling global luggage company Antler fell into voluntary administration, just three months after it was bought out by fashion veteran Michael Lewis, chairman of Foschini Group. But by July, the business brand, e-commerce and assets were sold to the ATR Group and now, its ready to turn over a new leaf. We chat…