Dunedin craft chocolate company Ocho faces the prospect of being put into voluntary liquidation. The directors of Dunedin craft chocolate company Ocho are proposing to wind up the company amid financial difficulties. The board today notified staff and shareholders that it was seeking voluntary administration, saying it believes the company is unable to trade out…
Prescription software company MediSecure has gone into liquidation less than a month after being hit by a ransomware cyber attack, with affected doctors still unsure what personal information was stolen. The company, which stopped processing PBS scripts last year after the Federal Government awarded a sole provider contract to long-time rival eRX, was still processing…
Its official the Lifestyle Store has been placed into voluntary administration with debts believed to be in the millions. At 15.05pm yesterday, the liquidator of Theatre At Home, and ROQO Pty Ltd moved to place the Lifestyle Store into liquidation. A few minutes later the CEO of both the Lifestyle store and Theatre At Home…
In a bid to expedite the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC), the government is mulling to reduce compliance burden on insolvency professionals (IPs). In a discussion paper floated on Monday, the Insolvency and Bankruptcy Board of India (IBBI) has proposed to streamline and reduce the number of CIRP…
A number of Northlanders, particularly elderly people, are now out of money after paying Flaming Fires for a fireplace and not having anything installed, liquidators say. Photo / Alex Cairns Fireplace customers are feeling left out in the cold and out of pocket after Whangarei retailer and installer Flaming Fires went into liquidation. One customer…
The proposed amendments are expected to make the process less stringent for the insolvency professionals and resolve the complexities 3 min read Last Updated : Jun 11 2024 | 6:01 PM IST The Insolvency and Bankruptcy Board of India (IBBI) has proposed to simplify the forms submitted for the corporate insolvency resolution process (CIRP) by…
In a move that could help streamline and quicken insolvency proceedings against firms, the government is looking to reduce the compliance burden on insolvency professionals. In this regard, the Insolvency and Bankruptcy Board of India (IBBI) has issued a discussion paper on reducing compliance by review of forms for corporate insolvency resolution process (CIRP) that…
3 min read Last Updated : Jun 11 2024 | 5:30 PM IST Following the suggestion of the Financial Stability and Development Council (FSDC) to ease the compliance burden, the Insolvency and Bankruptcy Board of India (IBBI) has proposed simplifying the forms submitted for the corporate insolvency resolution process (CIRP) by resolution professionals in a…
Low-cost airline Bonza entered voluntary administration in April, less than 18 months after launching its first passenger flights. (Source: AAP) Hundreds of Bonza staff have been officially sacked, after hopes of finding a buyer for the embattled airline were dashed. They are also yet to be paid for months of work as administrators say they…
Normal text sizeLarger text sizeVery large text size More than 300 employees at failed budget airline Bonza have been told their roles have been officially terminated after they havent been paid for more than two months. Bonza entered voluntary administration and appointed accounting firm Hall Chadwick at the end of April after its aircraft lessor…