A building company has appointed administrators and all work has urgently been paused, plunging nearly 100 homeowners into limbo. On Monday, Victorian-based building firm Montego Homes Pty Ltd went into voluntary administration. Sam Kaso and Shaun Matthews of insolvency firm Cor Cordis have been appointed as the administrators and halted all constructed work while they…
By Daily Mail Australia Reporter Published: 08:10 AEDT, 17 January 2024 | Updated: 08:34 AEDT, 17 January 2024 Another building firm has gone into voluntary administration immediately putting a pause on all projects. Victorian-based Montego Homes appointed Cor Cordis as administ… Read the full article at: https://www.dailymail.co.uk/news/article-12971033/Montego-Homes-goes-administration-Victorian-construction-company-hits-pause-projects.html
Zee-Sony merger: The Supreme Court on Tuesday upheld the Delhi High Court’s ruling to refer the Rs 150 crore dispute between Aditya Birla Finance and Siti Networks to arbitration. The high court had appointed former Supreme Court judge Justice LN Rao as the sole arbitrator. Aditya Birla Finance had alleged that Siti has not settled…
The number of Australian construction companies hitting the wall continues to soar, with almost 1,400 businesses collapsing in the second half of 2023. The latest numbers released this week by the corporate regulator, Australian Securities and Investments Commission (ASIC), revealed that 29 per cent more companies folded than in the same period in 2022. Overall…
The National Company Law Appellate Tribunal (NCLAT) on Thursday said former promoters and directors of a company going through insolvency process are not barred from submitting bids until they are ineligible under clauses of Section 29A of the insolvency law. The mere fact that someone was a promoter and director of a company going through…
Wayward Brewing Co. and Local Drinks Collective enter voluntary administration to facilitate financial restructuring Wayward Brewing Company Pty Ltd (Wayward) and Local Drinks Collective Pty Ltd (LDC), have announced their decision to appoint an administrator to help facilitate a financial restructuring of the business. Wayward operates a craft brewery and taproom in Camperdown, in the…
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Tuesday set aside insolvency proceedings against Asian Hotels (West), which operates Hyatt Regency, Mumbai. The appellate insolvency tribunal has also accepted the proposal submitted by former promoters and directors of the company under Section 12A of the Insolvency & Bankruptcy Code. NCLAT said the decision…
There will be close to 1,000 corporate insolvencies this year after finalised figures for 2023 came in higher than expected at 717, according to the latest insolvency barometer from professional services company PwC Ireland. The accountancy giant said there had been an uptick in business failures in the fourth quarter of 2023 and that having…
Nalsar University of Law. Hyderabad: The Institute of Company Secretaries of India (ICSI) and Nalsar University of Law co-hosted the first edition of Corpcon-2024 at Nalsars Shamirpet campus, which ended on Sunday. The three-day workshop on developments and trends in corporate laws and governance provided a platform for knowledge exchange and collaboration focusing on corporate…
WION Video Team | Updated: Jan 07, 2024, 11:00 AM IST The ongoing property crisis in China has taken down another company. This time, it is wealth management firm Zhongzhi, which filed for bankruptcy liquidation. Zhongzhi applied for bankruptcy arguing it could not repay its debts due to insufficient assets. Read the full article at: https://www.wionews.com/videos/china-debt-crisis-wealth-manager-zhongzhi-files-for-bankruptcy-liquidation-677370