Ready to acquire Adhunik Metaliks, Maharashtra Seamless tells lenders Lenders to bankrupt Adhunik Metaliks (AML) on Thursday filed appeals before the Kolkata bench of the National Company Law Tribunal (NCLT) for providing additional time for completion of the insolvency resolution process, as they have received application from Maharashtra Seamless stating that it is ready to…
A seized $47 million stake in gold miner Tribune Resources is finally on the market, with investment bank Morgan Stanley mandated to offload the shares inside six months. Interest in the stock, however, is uncertain given governance issues around Tribune and the companys liquidation of its large gold inventory last year to support a special…
The outcome of the 17th CoC meeting is summarized as herein below: 1. An updated list of creditors- version 5 as on 19th November 2018 was prepared and submitted to NCLT and uploaded on the website of the Company on 28 November 2018. The same was also circulated to the CoC members via email dated…
We refer to the intimation made on January 21, 2019 for 14th Meeting of Committee of Creditors (COC) and would further like to inform you that the said meeting was conducted on 22nd January, 2019 to provide business and Corporate Insolvency Resolution Process (CIRP) updates and discussion was held between CoC members and the Resolution…
Dear Sir / Madam, We would like to inform you that 10th meeting of Committee of Creditors of Sterling Biotech Limited was held on Tuesday, 22nd January 2019 at 02.00 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra, India. You are requested to take the same on…
news, latest-news, Buyers will have their deposits refundedafter learning a long-delayed Russell Vale housing subdivision has been sold off and the developer gone into liquidation. A 19-lot residential housing development, Tallowoods estate had been previously been stalled after the developer was forced to stop work and clean upasbestos contaminationon the site. Purchaserspaid a deposit to…
Steinhoff International Holdings has detailed the application put forward by the company of former business partner Andreas Seifert to block the voluntary administration of its European business. According to the furniture conglomerate, the application alleges that Steinhoff Europe owed LSW GmbH a total of $464.86 million (291.4 million) as of 14 December 2018, and seeks…
Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration. Christopher Hill andPhilCarter of PwC Australia were appointed joint administrators of Flow Systems Pty Ltd and related entities on 20 December 2018 after a sale process initiated by majority shareholder Brookfield failed to find new owners.…
Falcon Tyres, previously owned by Ruia Group, may end up liquidated after failing to attract any bidders for takeover of the stressed assets. The company is currently undergoing insolvency resolution process in the Bengaluru Bench of the National Company Law Tribunal (NCLT). In case of liquidation, lenders are seen taking at least a 52…
With the reference to our earlier intimation notice dated 18th January, 2019 for 14th meeting of the Committee of Creditors (COC) which was scheduled to be held on 22nd January, 2019 at 03:00 pm, we hereby inform you that the same meeting has been rescheduled on Tuesday, 22nd January, 2019 at 10:45 am at the…