NCLT admits listed coaching firm MT Educare under Corporate Insolvency Resolution Process – The Economic Times

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A bankruptcy court has admitted the listed MT Educare, formerly known as Mahesh Tutorials, into the corporate insolvency resolution process (CIRP) and appointed Ashwin Bhavanji Shah as the interim resolution professional for the Mumbai-based coaching firm. The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the companys operational creditor Connect Residuary to initiate…

Directors’ obligations when insolvency looms – Business Plus

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New EU regulations mean directors of financially stressed companies must have regard to the interests of creditors, writes Ian Barrett, Managing Director in KPMG’s Restructuring Team. Recently, there has been much commentary on the prospect of a large increase in company insolvency arising from the Covid-19 pandemic, along with an increasingly turbulent macroeconomic environment. The…

AirTree-backed furniture brand Brosa enters administration – Business News Australia

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A surge of interest from potential buyers could bail out embattled online luxury furniture retailer Brosa after the Melbourne-based company went into voluntary administration last week. Richard Tucker and Michael Korda of KordaMentha have been appointed as voluntary administrators for Brosa, which received more than 30 enquiries to buy out the company. Founded in 2014…

Corporate Insolvency Service Market Market Growth, Developments … – Digital Journal

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This report studies theCorporate Insolvency Service Market Marketwith many aspects of the industry like the market size, market status, market trends and forecast, the report also provides brief information of the competitors and the specific growth opportunities with key market drivers. Find the complete Corporate Insolvency Service Market Market analysis segmented by companies, region, type…

Airtree Ventures and Bailador-backed ecommerce venture Brosa … – Startup Daily

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Online furniture retailer Brosa is up for sale after the business was placed in voluntary administration this week. Richard Tucker and Michael Korda of KordaMentha were appointed Voluntary Administrators of the 8-year-old ecommerce company, which raised more than $7 million in venture capital from the likes of Airtree and ASX-listed Bailador Technology Investments. While Bailador…

Australian Furniture and Homewares Retailer Brosa Has Gone Into Administration – Broadsheet

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Melbourne-based digital furniture and homewares retailer Brosa has gone into voluntary administration. The company founded in 2014 by Ivan Lim, David Wei and Richard Li tripled in size during Covid-19 restrictions as shoppers went online for direct-to-customer deliveries. This week Brosa announced it has appointed Richard Tucker and Michael Korda of Kordamentha Restructuring as administrators.…

Brosa furniture collapse: Company blames Covid pandemic on going into voluntary administration – Daily Mail

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Luxury furniture company collapses as it blames its business woes on growing too quickly through Covid Melbourne luxury furniture shop Brosa announced its collapse on Wednesday The furniture store blamed its collapse on its ‘phenomenal’ growth in Covid Richard Tucker and Michael Korda were appointed as voluntary administrators By Sarah Liversidge For Daily Mail Australia…