Anil Ambani, Chairman, Anil Dhirubhai Ambani Group (File photo) Photo : BCCL The highest bid received for the Anil Ambani-owned Reliance Capital, which is undergoing insolvent proceedings, is 60% below aggregate the liquidation value. This means that bidders need to significantly increase the offers, else the company will need to through liquidation or piecemeal sale…
Global law firm Ashurst has appointed Lance Jiang as a partner in the restructuring, insolvency and special situations practice, based in its Hong Kong office, as part of the teams expansion plan to capture the rapidly growing opportunities and client demands in Asia. With two decades of experience in the region, Lance advises on complex…
In an early sign that merger and acquisition activity is about to ramp up in the startup sector in order for companies to survive, Sydney-headquartered courier delivery service Drive Yello has merged with the cafe payments platform Hey You. The merged entity is known as 4You Innovation, and hopes to hit up the market for…
Live One of Australias first meal delivery services has shut down, effective immediately, putting thousands of people out of work and telling customers they could no longer place orders with the service. Deliveroo, which launched in Sydney and Melbourne in 2015, revealed it had been placed into voluntary administration on Wednesday and could no longer…
Australian investors have been left unable to withdraw their funds after the spectacular collapse this week of cryptocurrency exchange FTX. Key points: High-profile cryptocurrency exchange FTX filed for bankruptcy and its chief executive stepped down Australian investorshave been unable to withdraw funds from the platform FTX’s local arm went into voluntary administration on Friday The…
The Committee of Creditors of Reliance Capital, in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday TopicsReliance Captial|finance sector|Companies IANS | Mumbai Last Updated at November 30, 2022 17:55 IST ‘).insertAfter(“.article-content__img”);$(“.article-content__img div”).find(‘div’).remove(); //]]> The Committee of Creditors (COC) of Reliance Capital (RCAP),…
Nordic Shipholding A/S NOTICE TO CONVENE an extraordinary general meeting of Nordic Shipholding A/S The Board of Directors hereby convenes an extraordinary general meeting of Nordic Shipholding A/S (CVR no. 76 35 17 16) (the Company) to be held on Friday 23 December 2022, at 10.00 (CET)Gorrissen Federspiel, Axel Towers, Axeltorv 2DK-1609 Copenhagen V Agenda:…
Advice LBV Hub Financial Services Business Helpline Going through a liquidation as a company director can be an extremely stressful time. This article breaks down the process and gives you an insight into what happens to a director of a company in liquidation. If you do need support and expert advice you can contact us…
PwC said it backed the DOCA because of the higher anticipated return to creditors and greater perceived certainty, and quicker process, while also providing a better outcome in terms of accessing insurance proceeds. While various claims have been made by investors over alleged losses suffered as a result of financial advice received from DASS, by…
The Australian arms of crumbling cryptocurrency empire FTX have been placed in voluntary administration. Scott Langdon, John Mouawad and Rahul Goyal of KordaMentha Restructuring took over as administrators of the Sydney-based cryptocurrency businesses FTX Australia Pty Ltd and subsidiary FTX Express Pty Ltd on Friday following a board meeting earlier today that decided to place…