Chennai, Nov 29 (IANS): With the debt recoverable rate going down to 30.8 per cent or Rs 243,452.5 crore (lenders foregoing Rs 70 per cent of their admitted claims of Rs 790,626.2 crore) the number of cases admitted for Corporate Insolvency Resolution Process (CIRPs) has increased since the launch of the Insolvency and Bankruptcy Code…
A business linked with the struggling Metamorph Group has gone into liquidation, it was confirmed today, as the companys former chief has made a surprise apparent return. A notice in the London Gazettestated that Beaumont ABS Ltd appointed liquidators earlier this month, following agreement by the firms creditors. The liquidation is being handled by Michael…
29 November 2022 Consultancy.uk 2 min. read Kroll has grown its UK restructuring advisory practice with the appointment of two Managing Directors. Annika Kisby and Sarah Rayment will now work to advance Krolls position in the market. In 2022, global corporate insolvency numbers are expected to increase by 33%, returning to levels not seen since…
Film fanatic Christopher Liffers says he’d hate to see the cinema go. Picture – Edward Scown The company which runs Bunbury’s Grand Cinemas has announced they have entered voluntary administration, leaving the future for local movie fans in the balance. One cinema regular, Christopher Liffers, said he was shocked by the news. He’s been visiting…
Film fanatic Christopher Liffers says he’d hate to see the cinema go. Picture – Edward Scown The company which runs Bunbury’s Grand Cinemas has announced they have entered voluntary administration, leaving the future for local movie fans in the balance. One cinema regular, Christopher Liffers, said he was shocked by the news. He’s been visiting…
The company had several government construction contracts, including the new Bayswater station and several schools There are also several apartment projects, worth some $80 million, on the line The RBA has warned more construction businesses will go under Western Australian building firm FIRM Construction has fallen into voluntary administration. This occurred just several days after…
Menulog, one of the few surviving meal delivery companies left in Australia following the failure of Deliveroo and grocery delivery startup Voly, is shedding jobs in Australia as part of a global restructure of its Dutch parent company. The Australian-born business, which was acquired UK-based Just Eat for $855 million in 2015, cut stuffing at…
123RF Several liquidators approached by Stuff say the use dummy directors is sometimes reported to the Companies Office as conduct not consistent with being a good director. Patsy directors are being appointed to companies just before they go into liquidation owing large amounts of money. Why? Martin van Beynen reports. Stephen Bruce Murdoch, 36, is…
New Delhi, Nov 25 (IANS) The National Company Law Tribunal (NCLT) has ordered the commencement of a corporate insolvency resolution process of Ansal Properties (NS: ) and Infrastructure. The creditors of Ansal Properties have been asked to submit their claims with proof by December 1 to the interim resolution professional. The classes of creditors ascertained…
In two separate orders, the Mumbai bankruptcy court dismissed Canara Bank‘s petition to admit GTL Infrastructure and GTL Ltd for corporate insolvency. The two-member bench relied on the Supreme Court‘s order of Vidarbha Industries Power for GTL Infra and the failure of lenders to adhere to the central bank’s guidelines for GTL, according to the…