Jenny Craig, the company founded by Jenny, pictured, and Sidney Craig in 1983, went into voluntary administration earlier this week. Photo / Getty Images By RNZ The demise of diet and weight-loss company Jenny Craig is a win for those fighting against diet culture, according to body positivity campaigner and educator Angela Barnett. The company,…
Following a request by its financial creditor, State Bank of India (SBI), Sterling Oil Resources Ltd. has been accepted into the corporate insolvency resolution procedure by the bankruptcy court. As a result of the business’s almost Rs 1,655 crore in unpaid debts, SBI filed a petition with the bankruptcy court. Purusottam Behera has been chosen…
In the wake of a national manufacturing companys collapse, its liquidator says the case is unusual and complex and compensation for customers will be a lengthy process. Mooloolabas Transportable Shade Sheds (TSS) went into liquidation on Monday, April 3, reportedly leaving hundreds of customers either without product or half-delivered orders. It had factories at Beerwah and Coolum,…
NCLAT Set Aside Insolvency Proceedings Against McLeod Russel Business NewsNCLAT Set Aside Insolvency Proceedings Against McLeod Russel ADVERTISEMENT 17 May 2023, 4:09 PM IST 17 May 2023, 4:09 PM IST 17 May 2023, 4:09 PM IST WhatsApp Twitter Facebook Telegram Read the full article at: https://www.bqprime.com/business/nclat-set-aside-insolvency-proceedings-against-mcleod-russel
Multi-Res Builders, a family-owned construction business based in Hobart, entered liquidation on May 14, according to Australian Securities and Investments Commission (ASIC) documents. David Levi from Levi Consulting has been appointed as the liquidator. “Notice is given that at a general meeting of the members of the Company held on 14 May 2023, it was…
A Tasmanian building company has gone into liquidation, leaving multimillion-dollar projects in the lurch. It is the latest in a seemingly never-ending series of building firms collapsing as the industry faces the rising cost of labour and construction materials. A liquidator was appointed to Multi-Res Builders Pty Ltd on May 14, according to a notice…
May 16, 2023 5.45pm Wine bars, restaurants, vineyards and liquor distributors around the country are clamouring to retrieve millions of dollars worth of stock locked in warehouses belonging to collapsed ASX-listed start-up Kaddy. The makers of By Farr wines and Dalwhinnie whisky were among hundreds of customers stunned to receive emails from Kaddys administrators last…
Eleanor Temple, chair of the insolvency and restructuring trade body R3 in Yorkshire and a barrister at Kings Chambers in Leeds Corporate insolvencies decreased by 31.8% in April 2023 to a total of 1,685 compared to Marchs total of 2,471, and decreased by 15.2% compared to April 2022s figure of 1,988. Corporate insolvencies increased by…
Ease of doing business for MSMEs: The number of companies in wholesale and retail trade admitted for Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016 has increased by 24.9 per cent year-on-year as of March 2023. According to the report by credit rating company CareEdge, the number of cases belonging…
In a previous article, ‘In case of emergency: Using emergency power provisions to appoint a voluntary administrator’ we discussed the use of emergency powers in a companys constitution to appoint a voluntary administrator to a company, as well as the use of court assistance to cure defects in an appointment. Indeed, there is ample precedent where…