The principle view in filing the instant petition is that lakhs of homebuyers in thousands of projects can lose their life-savings, hard-earned money and moneys obtained through bank/institutional loans due to the operation of Insolvency and Bankruptcy Code, the plea said At a time when home buyers Vs builders cases are piling up in the…
AdvertisementThe U.S. Bankruptcy Court issued a revised order converting Constellation Enterprises Chapter 11 reorganization case to a liquidation under Chapter 7. Advertisement The order states, The Debtors chapter 11 cases shall be convertedto cases under chapter 7 of the Bankruptcy Code, effective on October 2, 2017 at 5pm. (the Conversion Dat……
Local energy producer Empire Oil & Gas has entered voluntary administration today, two weeks after receivers took control of subsidiary Empire Oil, which operates the companys key Perth Basin assets. Peter McCluskey, Martin Jones and Andrew Smith of Ferrier Hodgson have taken control of Empire Oil & Gas, which produces about 10 terajoules of gas…
As first revealed back in June, Australian commercial TV network Channel Ten is financially up shit creek having entered voluntary administration, and now the specifics of the expected fall out are coming to light. The Daily Tele has the exclusive goss on whats looking likely to go down over at the embattled network, with some…
CHANNEL Ten has hit back at claims its preparing to swing the axe through a host of its Australian-made TV shows, under a secret plan to claw back millions of dollars. The troubled network was placed into voluntary administration back in June, with US entertainment giant CBS winning the support of the Tens creditors committee…
Rebecca McDonald / 28 September 2017 Victoria’s Education Department has confirmed a local private training provider has gone into voluntary administration. The Complex Institute of Education has suspended all classes across its Victorian campuses, including its Geelong branch in Moorabool Street. Students remain in limbo after being told by the company they will find out…
New Delhi, Sep 27 (PTI) A plea was today moved in the Delhi High Court challenging various provisions of the bankruptcy and insolvency code, claiming they are violative of fundamental rights. A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar listed the petition on October 10, when a similar pending plea…
HYDERABAD, Sep 27: Lanco Infratech Limited has posted a huge loss of Rs 1,691.63 crore for the first quarter ended June 30, 2017 as as against a loss of Rs 1,27.77 crore for the corresponding quarter on a standalone basis. The income of the diversified infrastructure company now faced with insolvency proceedings, for the first…
A security industry training provider has gone into voluntary administration after suspending classes across its six Victorian campuses, leaving students in limbo. The Complex Institute of Education’s phone number on Wednesday morning only had a recorded voicemail saying classes would not be running “until further notice”. Students were instructed to await an SMS or email…