The liquidator of Gujarat-based Sterling Biotech, which owes more than 8,100 crore to lenders, has initiated a liquidation process of the company as a going concern at a reserve price of 548.46 crore. The company is the worlds sixth-largest manufacturer of Gelatin and has already seen interest from about a dozen companies, a person connected…
Celebrity Esports has gone into liquidation, months after securing partnership deals with the likes of Grenade, Primark and NOW, among others. The company, founded by Leo Skagerlind, was launched in March 2020 and looked to appeal to a wider audience with esports by using celebrities to take part in tournaments. In January 2021, Celebrity Esports…
From now on, RPs will also be expected to look into borrowing agreements that companies have entered into to find out if there have been any extortionate credit transactions There is no doubt the corporate insolvency resolution process (CIRP) hasnt quite lived up to expectations. Although the Insolvency and Bankruptcy Code is an excellent piece…
This comes after the Insolvency Service reported a 63% increase in corporate insolvencies in June 2021 when compared to the same month in 2020. Commenting on this news, insolvency practitioner PKF GMs director Oliver Collinge, said: This trend of rising corporate insolvency numbers has long been predicted and we expect it to continue as government…
Celebrity Esports has gone into liquidation, months after securing partnership deals with the likes of Grenade, Primark and NOW, among others. The company, founded by Leo Skagerlind, was launched in March 2020 and looked to appeal to a wider audience with esports by using celebrities to take part in tournaments. In January 2021, Celebrity Esports…
news, local-news, Goulburn, Heron Resources, Tarago, Woodlawn Mine, administration, FTI Consulting A company that was aiming to revive copper and zinc mining near Tarago has entered voluntary administration. Heron Resources notified the Australian Securities Exchange (ASX) of its decision on Friday. It followed failed attempts to secure what it described as a “suitable transaction” for…
This comes after the Insolvency Service reported a 63% increase in corporate insolvencies in June 2021 when compared to the same month in 2020. Commenting on this news, insolvency practitioner PKF GMs director Oliver Collinge, said: This trend of rising corporate insolvency numbers has long been predicted and we expect it to continue as government…
news, Goulburn, Heron Resources, Tarago, Woodlawn Mine, administration, FTI Consulting A company that was aiming to revive copper and zinc mining near Tarago has entered voluntary administration. Heron Resources notified the Australian Securities Exchange (ASX) of its decision on Friday. It followed failed attempts to secure what it described as a “suitable transaction” for the…
A major Telstra and Foxtel contractor has gone into voluntary administration, while facing a $400 million class action from Shine Lawyers. The class action against Tandem Corporation, formerly known as Infrastructure Services Group Management (ISGM), filed in November, 2018, was the largest employment-related class action in the country. The case was due to go to…
Seeking to enhance transparency in the insolvency process, the Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations. The IBBI said in a release on Wednesday that the amendments were aimed at enhancing the discipline, transparency, and accountability in corporate insolvency…