IBC | Statutory Set Off Or Insolvency Set Off Inapplicable To Corporate Insolvency Resolution Process:… – Live Law – Indian Legal News

Liquidation

The Supreme Court has held statutory set off or insolvency set off is not applicable to Corporate Insolvency Resolution Process (CIRP) proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC). Further, Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (Liquidation Regulations), which provides for mutual dealing and set off,…

Corporate insolvencies reach highest level in five years after 25% rise in 2023 – The Irish Times

Liquidation

Corporate insolvencies reached their highest level last year since 2018, with the hospitality and construction sectors both seeing a 62 per cent rise, according to an analysis by professional services company Deloitte. Some 663 corporate insolvencies were recorded in 2023, according to statistics compiled and published by Deloitte Ireland, with this number up 25 per…

Industry pressures push Wayward into voluntary administration – The Shout

Liquidation

Sydney-based Wayward Brewing Co. and its co-owned distribution business Local Drinks Collective have entered into voluntary administration, seeking financial restructuring to cope with adverse economic conditions facing the craft beer industry. Local Drinks Collective is jointly operated with Batch Brewing Co, although Batch is not involved in the administration process. DBA Reconstruction & Advisory has…

A single insolvency regime with a single insolvency regulator? | Vietnam | Global law firm – Norton Rose Fulbright

Liquidation

This article was co-authored with Queenie Mok.   In our earlier Legal Update, we outlined the findings of the Parliamentary Joint Committee on Corporations and Financial Services Final Report on Corporate Insolvency in Australia. Recommendation 3 of the Report was a comprehensive review to consider and make recommendations on the options to enhance public interest…

A timely review of the effectiveness of Australia's restructuring and insolvency laws – Norton Rose Fulbright

Liquidation

The Parliamentary Joint Committee on Corporations and Financial Services (PJC), chaired by Senator Deborah ONeill, has handed down its final report into the effectiveness of Australias corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy. The Committee has made some far-reaching recommendations in the Final Report,…

Hiro Brands: Major Australian cleaning product company collapses – Daily Mail

Liquidation

By Olivia Day For Daily Mail Australia Published: 12:33 AEDT, 4 January 2024 | Updated: 13:45 AEDT, 4 January 2024 A major brand manufacturer behind some of Australia’s most-used cleaning products has collapsed with up to 120 staff now unemployed.  Hiro Brands owns a range of c… Read the full article at: https://www.dailymail.co.uk/news/article-12924695/Hiro-Brands-Major-Australian-cleaning-product-company-collapses.html

Australian manufacturing group Hiro Brands enters voluntary administration leaving staff without work – 7NEWS

Liquidation

Australian brand manufacturer Hiro Brands has entered voluntary administration, leaving 120 staff without work. The brand, responsible for a range of well-known Australian products including cleaning, personal care and cosmetics products, entered administration on January 2. Hiro Brands manufactures, distributes and markets popular brands including Organic Choice, Orange Power, Aware Sensitive, Trix, ulta3, MUD, Billie…

Major Aussie home cleaning product manufacturer collapses – 9News

Liquidation

A leading manufacturer behind Australia’s most popular household cleaning products, skincare and cosmetics has collapsed, resulting in the sacking of 120 staff. Hiro Brands produces a range of products including Orange Power, Trix, Mud Beauty and Billie Goat skin care. The company entered voluntary administration on January 2, with KPMG Australia’s David Hardy, James Dampney…