The digital economy has broadened the scope and quality of forensic evidence, but it has also presented new challenges. Forensic accountants used to take a copy of the contents of a companys server for analysis. Today, data is often stored on a remote server managed by a third-party vendor, and Hawkes says there may be legal…
Building company Zadro Constructions goes into voluntary administration Construction company collapses after 51 years Zadro Constructions went into voluntary administration READ MORE: By Peter Vincent For Daily Mail Australia Published: 16:21 AEDT, 2 October 2023 | Updated: 16:58 AEDT, 2 October 2023
Mumbai: Deloitte-backed resolution professional Vijaykumar Iyer sought a fresh opportunity to seek new bids for Future Retail, springing a surprise for the lenders that rejected Space Mantra‘s Rs 550-crore buyout offer Saturday evening, people aware of the development told ET. Instantly and unanimously, lenders rejected his proposal to restart the process, the people said.Voting results…
Western Sydney construction company Zadro Constructions entered voluntary administration last month, and is unlikely to resume trading in the future. All seven staff members were made redundant as the Penrith company joined a growing number of the industrys businesses going bust. Grant Thornton administrators John McInerney and Cameron Crichton were appointed on September 15, and…
By Fay Simmons Tribune Business Reporter [email protected] The Attorney General yesterday branded The Bahamas corporate insolvency regime as a joke and pledged to reform outdated laws and regulations that continue to undermine the financial services industrys competitiveness. Ryan Pinder KC renewed his promise to make The Bahamas a near shore Delaware through overhauling the bankruptcy…
Customers of a Victorian builder will pay more to have their home builds completed, as part of efforts to help the financially pressured company avoid liquidation. Key points: Victorian home builder Harmac Homes was placed in voluntary administration in late August A majority of creditors and customers have voted to have the directors take back control of…
Insolvency and Bankruptcy Code, 2016 (IBC) does not provides for remedies against third party, though section 66 of IBC deals with fraudulent trading or wrongful trading done in the course of corporate insolvency resolution process or any liquidation proceedings. Section 66 of IBC specifically provides for fraudulent trading or wrongful trading. It provides as follows:…
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday deferred hearing in a plea in the insolvency case of SREI Infrastructure to 4 October after the company sought time to submit a rejoinder to a response by the Reserve Bank of India (RBI). Adisri Commercial, former promoter of SREI Infrastructure, had appealed to…
Despite progress towards a banking union in the EU, European banks continue to be confronted with a highly divergent application of insolvency laws. A recent survey of European banks conducted by the European Banking Authority (2020) shows that this divergence has given rise to widely varying loan resolution outcomes. To eliminate the variation in the…
With a number of building and construction companies facing solvency issues due to supply shortages and increasing prices, the Victorian government has acknowledged the tough position this may put property owners into. They advised that builders who do go into voluntary administration but not liquidation may continue to provide services to clients. The government recommends…