Category Archives: Liquidation

Clough and M&R’s Australian holding company enter voluntary administration after termination of Webuild deal – Creamer Media’s Mining Weekly

A proposed disposal by Murray & Roberts (M&R) of its Clough unit to Webuild was terminated on Monday and Clough and its subsidiaries placed into voluntary administration in Australia with immediate effect, together with the JSE-listed groups Australian holding company, MRPL. The announcement triggered a sharp decline in M&Rs shares, which were trading about 13%…

Energy construction contractor Clough in voluntary administration – Oil & Gas Journal

Mitsui E&P Australia and Beach Energy Ltd., joint venture partners of the Waitsia Stage 2 gas plant development program in Western Australia, will work with Deloitte to ensure the project progresses following placement of Clough, the projects engineering, procurement, and construction contractor, into voluntary administration. The move follows a decision by Cloughs owners, Murray &…

MNP acquires BC firms The Bowra Group and Kerr & Company – Consulting.ca

06 December 2022 Consulting.ca 2 min. read National accountancy MNP has acquired The Bowra Group, a Vancouver-based restructuring consultancy, and Kerr & Company, a Kelowna-based boutique accountancy. Financial terms of the transactions were not disclosed. MNP merged The Bowra Group into its insolvency subsidiary MNP Ltd., effective December 1, 2022. The deal adds three partners…

Money lender Moola goes into liquidation – Newshub

Controversial New Zealand money lender Moola has gone into liquidation. Receiver Rodewald Consulting has been appointed to NZ Fintech Group Holdings, Moola’s parent company. Multiple subsidiaries, including Moola, were subsequently placed into liquidation. Insolvency firm Khov Jones was appointed liquidator of the trading entities, Rodewald Consulting director Tom Rodewald told Newshub. Moola’s website is currently…

Clough placed under Voluntary Administration – energy-pedia

The recently announced sale purchase agreement between Murray & Roberts and Webuild for the acquisition of Perth-based engineering group Clough, has been terminated by mutual agreement between the parties. In the absence of the sale proceeding, the board of directors of Clough have decided to place Clough and its Australian subsidiaries into voluntary administration (VA)…

Waitsia contractor Clough placed under voluntary administration – LNG Prime

Australian engineering and construction firm Clough, the main contractor of the Waitsia gas expansion project, was placed into voluntary administration after a deal by its parent Murray & Roberts and Webuild fell through. In November, Murray & Roberts entered into a sale and purchase agreement with Webuild to dispose of 100 percent of its shareholding…

National Corporate Insolvency Firm, MNP Ltd. Expands Team Through Merger with The Bowra Group – Benzinga

CALGARY, AB, Dec. 5, 2022 /CNW/ – MNP Ltd., the insolvency subsidiary of national professional services firm MNP LLP, is pleased to announce that it has merged with The Bowra Group, effective December 1, 2022. The Bowra Group is a boutique financial advisory practice based in Vancouver with an additional office in Edmonton. Established in…

Major builder Clough into administration | The Times | Victor Harbor, SA – Victor Harbor Times

Perth-based Clough’s portfolio includes the Snowy 2.0 pumped hydro project. (Lukas Coch/AAP PHOTOS) Engineering and construction group Clough has entered voluntary administration, casting uncertainty over several major Australian projects. It comes after a proposed sale to Italian giant Webuild collapsed, leaving the Clough board with “no choice” but to call in administrators from Deloitte. Clough’s…

Reliance Capital stares at liquidation as bid prices disappoint – The New Indian Express

Express News Service NEW DELHI: As bids for Reliance Capital, which is undergoing corporate insolvency resolution process (CIRP), have been much lower than the liquidation value of Rs 13,000 crore, a major difference of opinion has cropped up between the lenders and the Reliance Cap administrator. While the committee of creditors (CoC) wants to proceed…

A/NZ cyber roll-up Optic Security sold out of administration – ARNnet

Mark Lloyd (Optic Security Group) Credit: Supplied Optic Security, a trans-Tasman cyber security firm created in 2018 by rolling up existing businesses, has been sold out of voluntary administration. Optic Security Group Ltd was the 100 per cent shareholder of Optic Security Finance Group which in turn owned four New Zealand and two Australian subsidiaries.…