Lenders of debt-ridden Future Retail Ltd (FRL) has sought an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. The resolution professional of FRL has filed an application before the Mumbai bench of the National Company Law Tribunal (NCLT) “seeking exclusion of a period of 90 days from CIRP…
In this weeks TGIF, we consider the Federal Courts recent decision in Fotios (Bankrupt) v Helios Corporation Pty Ltd (No 3) [2023] FCA 251, and earlier decisions in the same proceedings, clarifying the current Australian position as to priorities between creditors of successive trustees. Key takeaways The insolvency of personal and corporate trustees continues to raise difficult…
Updated Mar 29, 2023 10.16am, first published at Mar 24, 2023 9.21pm The co-owners of the Callide C coal-fired power station in Central Queensland, have gone into voluntary administration. Amid ongoing uncertainty over the power station – which has been beset by delays following an explosion at its C4 unit in May 2021 – Deloitte…
POP Canberra will remain open for the time being and continue to trade. Photo: POP Canberra, Facebook. One of Canberras most colourful start-up stores has entered voluntary administration. POP Canberra, located at 27 Lonsdale Street in Braddon, only opened during the COVID lockdown in 2020; however, it has strong ties to the city as a…
Dharampal Satyapal Group, owner of brands such as Rajnigandha, Pulse and Catch, that also operates in the hospitality sector with hotels in Jaipur, Guwahati, Nainital and Jim Corbett; and Kolkata based real estate player Salarpuria Group have submitted resolution plans for Viceroy Bangalore Hotels Private Limited that owns Marriotts five-star Renaissance Bengaluru Race Course hotel.…
The Insolvency Service Published 14 March 2023 Contents 1. Main Messages for England and Wales 2. Things you need to know about this release 3. Company and Individual Insolvencies in England and Wales 4. Company Insolvencies in Scotland 5. Company and Individual Insolvencies in Northern Ireland 6. Data and Methodology 7. Glossary Print this page…
A glass door has been smashed at the Commonwealth parliament offices in Brisbane’s city centre during a series of mass union rallies held nationwide. The Brisbane rally was one of seven the Construction, Forestry, Maritime, Mining and Energy Union held across the country on Wednesday morning. The union is calling for industrial relation reform and…
A customer of collapsed building company Porter Davis claims he was encouraged to hurry up a payment, under the guise of a discounted rate, before the builder went into liquidation on Friday. Speaking to A Current Affair, George claims he was contacted last week and was offered a discount if he paid money to Porter…
There have been four company liquidation notices in the Parramatta Local Government Area today and 209 for the past year. News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state. Here’s the list for Parramatta, listed by postcode in date order: 2114 A.C.N. 128 045…
Building industry crisis deepens with yet another firm placed into liquidation leaving a string of custom-home builders in the lurch Wedgewood Constructions latest firm to fall Adelaide building company placed into liquidation on Sunday Follows collapse of Lloyd Group and Porter Davis homes By Olivia Day and Aidan Wondracz For Daily Mail Australia Published: 17:39…