Varun Marwah May 16 2019 The Principal Bench of National Company Law Tribunal (NCLT) recently ordered de-attachment of properties belonging to a corporate debtor, which were attached as part of execution proceedings by the Securities and Exchange Board of India (SEBI). The attachment order was also upheld by the Securities Appellate Tribunal (SAT). This particular…
Harini Subramani Its three years since the Parliament passed the Insolvency and Bankruptcy Code, but its implementation is fraught with teething troubles. Endless delays in the resolution process under the code appear to be its Achilles heel. A recent report released by Crisil and Assocham has quoted Insolvency & Bankruptcy Board of India data which…
Cryptopia, the New Zealand-based Bitcoin exchange hacked in January 2019 is shutting down for good and going into liquidation. A couple of liquidators from Grant Thornton have already been tasked with the job of security assets belonging to stakeholders of the company. Cryptopia joins others like Mt. Gox in failing to recover from a cyber…
Australias largest LGBTIQ+ publication has announced today they have entered voluntary administration and are up for sale. Star Observerhas been running in its various forms since it was founded in 1979. Star Observers Chairman Sebastian Rice says that cash flow is the life blood of any small organisation. TheStar Observer is an LGBTI community owned…
Melbourne-based independent brewery Sample Brewing is in the market for a buyer after bringing in administrators earlier this week. The business, stocked by hundreds of bars, pubs and bottleshops including Dan Murphys and Liqourland handed over control to Shane Cremin of Rodgers Reid on Tuesday. SmartCompany has confirmed Cremin is trading the business as usual…
We have agreed to sell substantially all of our assets, the company says in a SEC filing Salon Media says they have reached an 11th hour deal to sell the company and its flagship property Salon.com for $5 million. In an SEC filing,Salon also revealed its position was dire and that it would face imminent…
Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has gone into liquidation and suspended trading operations. The news was announcedWednesday by Cryptopias assigned liquidator, professional services firm Grant Thornton New Zealand. Cryptopia confirmed the news on Twitter, as well as on its website. Possibly signaling changes afoot, Cryptopia website went under maintenance…
Brisbanes food and drink scene was rocked late last week by the closure of Mercado. The gourmet retailer had barely lasted six months after opening in November with designs on being Brisbanes 1500 square metre answer to Harrods Food Hall in London and Italys Eataly. A sign in the window of the King Street retailer…
Coventry-based Link Mailing has been placed in voluntary liquidation following a meeting with company members and appointed liquidators. Link Mailing is to be voluntarily wound up. PrintWeek reported on 1 May that insolvency practitioners Eric Walls and Wayne Harrison of KSA Groups Gateshead office had been nominated, being officially appointed as joint liquidators of Link…
New Zealand-based CBL Corporation, which has operations in both the UK and Ireland, has been placed into liquidation by the High Court, as directors of the failed insurer withdrew their opposition to liquidate the group. CBL Corporation directors Alistair Hutchison and Peter Harris said they decided not to oppose the liquidation application after failing to…