Article 0 Comments R&Q Insurance Holdings Ltd. warns it is facing growing financial difficulties, which could affect the companys stability as a business and ultimately lead to liquidation. In a June 13 statement, R&Q acknowledges it has been struggling under the weight of adverse loss development in its core legacy acquisition business, unexpected costs and…
Global law firm Ashurst has expanded its Perth office with the appointment of Richard Johnson and Kirsten Scott as partners. Richard will join the firm as a Restructuring and Special Situations Group (RSSG) partner and Kirsten will join as an Investigations partner in the Employment team. Their appointments highlight Ashurst’s commitment to enhancing its service…
3 min read Last Updated : Jun 13 2024 | 1:22 PM IST Jaypee Infratech Ltd (JIL), now under the management of the Mumbai-based Suraksha Group, has appointed Devang Pravin Patel as its Chief Financial Officer (CFO) to begin the delisting of its shares from stock exchanges. The appointment was effective from June 8, 2024,…
A 135-year-old pub that was forced to close its doors permanently has still fallen into liquidation. The Carringbush Hotel, which was based in Melbourne, was shuttered at the start of June with the pub groups owners citing horrendous expenses, adding they would need to charge a whopping $20 for a beer to survive. However, news.com.au…
3 min read Last Updated : Jun 12 2024 | 9:26 PM IST Bankrupt airlines Go First got a final 60-day extension from the National Company Law Tribunal (NCLT) on Wednesday to complete its corporate insolvency resolution process (CIRP). This extension will last till August 3. The lenders of the airline include the Bank of…
A sportswear brand set up by a young entrepreneur has gone into liquidation with debts of 900,000. Lucy Locket Loves, which started in Sheffield, sold leggings, shorts and gym clothing from a warehouse in Dronfield. Founder Lucy Arnold said the business had been voluntarily wound up and that staff had lost their jobs. The owners…
The IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders’ comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy.The Insolvency Bankruptcy…
Sydney advisory firm McGrathNicol Restructuring have announced the appointment of voluntary administrators of Certain Insitec Entities. Youre out of free articles for this month Login Sign up To continue reading the rest of this article, please log in. Create free account to get unlimited news articles and more! Barry Kogan and Damien Pasfield (partners) will…
Dunedin craft chocolate company which once raised $2m through equity crowdfunding faces ‘financial uncertainty’ and can trade for only ‘short amount of time’. A special meeting to consider a resolution to appoint a liquidator will be held later this month. Directors of Dunedin craft chocolate company Ocho are proposing voluntary liquidation because the business faces…
Dunedin craft chocolate company OCHO has announced it is seeking voluntary liquidation with “no prospect of achieving future profitability under the current business model”. In a statement, OCHO Limited said the new board notified staff and shareholders that the company is “unable to trade out of its current financial situation” and have requested a special…