More than 3,000 customers owed money by the failed replica-furniture chain Matt Blatt are set to receive nothing, even though the company reaped more than $4.4m by selling assets in the weeks leading to its collapse. Customers, some of whom are owed more than $1,000, were informed of the collapse by text message a fortnight…
MONEY gathered for charitable community causes may instead be put towards settling with unsecured creditors, following the liquidation of a partner company. The Somerset Regional Council has hosted Mayoral Gala Charity Balls for several years, with the aim of creating a fund that could be used by people and groups in the community. In 2017,…
Equestrian Australia has said it will ensure requirements are met to nominate athletes for the Tokyo 2020 Olympic and Paralympic Games after the national governing body entered voluntary administration. The organisation entered voluntary administration following the withdrawal of funding by Sport Australia, who had slammed Equestrian Australias governance and raised concerns over welfare of participants…
June 12, 2020 13:38 ET | Source: Novelion Therapeutics, Inc. VANCOUVER, British Columbia, June 12, 2020 (GLOBE NEWSWIRE) — Novelion Therapeutics Inc. (Novelion or the Company) by Alvarez & Marsal Canada Inc., Novelions court appointed liquidator (the Liquidator) today provides an update on the Companys voluntary liquidation process (the Liquidation) that started on January 16,…
Bondi-based fashion retailer Tuchuzy has gone into voluntary administration. The store, which was founded in 1995 by Daria Sukic, is known for stocking international and Australian designers such as Anine Bing, Alexander Wang, Mara & Mine, Rag & Bone and Saint Laurent. Sukic cites the compounding issues of bushfires, a difficult retail environment and coronavirus…
The Daniel Wellington flagship store on Auckland’s Queen Street which opened in June 2019 and the Newmarket store closed permanently on 28 May. Posted June 12, 2020 | By Arabella Roden Assistant Editor The New Zealand subsidiary of Daniel Wellington was liquidated on 28 May 2020 less than two years after it was incorporated due…
In India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is… In India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is governed under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as Code). Insolvency laws in India provides for an expeditious settlement of insolvency cases, protecting the interests of…
STUFF Tourism businesses fear job losses could surpass 100,000. Tourism businesses owed $3m by online travel agency Aoliday NZ Ltd have forced the company into liquidation. Administrator Grant Thornton had recommended 130 creditors accept Aoliday’s offer to pay $284,000 while it chased up a major debtor in China. But representatives from major operators such as…
THE company who had expressed interest in the proposed Kingaroy coal mine went into voluntary administration yesterday. The Moreton Resources board of directors appointed Deloitte Financial Advisory’s Grant Sparks and David Orr as administrators of the group. An urgent assessment of the group’s business and financial position will be undertaken to determine the business’ future…
THE VIRGIN AUSTRALIA FLEET SITS IDLE AT AIRPORTS. When Virgin Australia Holdings Ltd went into voluntary administration towards the end of April a casualty of the COVID-19 pandemic members of Virgin Australias Velocity Frequent Flyer program may have thought that their points were safe. Velocity Frequent Flyer Pty Ltd (VFF) is a distinct company from…