Category Archives: Liquidation

ROGER TAYLOR: Metamaterial’s eyewear plans bolstered by acquisitions from liquidating Swiss company – Cape Breton Post

Metamaterial Inc. of Dartmouth, developer of high-performance functional materials and nanocomposites, announced Tuesday it has acquired specialized lens casting production from Swiss company Interglass Technology AG, which is in liquidation. Metamaterial is paying US$800,000 to acquire equipment and intellectual property, including more than 70 international patents, from Interglass. It plans to invest and expand its…

Real estate firm The Agency wins court ruling against administration action over disputed fee – Domain News

Real estate firm The Agency has ended a brief stint in administrationafter successfully fighting off a claim made by a former director. Director of investment group Magnolia, Mitchell Atkins, a former director at The Agency, appointed voluntary administrators BDOon January 19to pursue the real estate firm over a disputed fee of about $385,000, which he…

West Clare Construction Company Facing Liquidation – Clare FM

Pat Flynn A West Clare construction company is facing liquidation after the High Court was told examiners will not be able to save the business. The Currency reports that Keating Construction in Kilmihil will be wound up having faced debts of around 30 million. The firm employs around 150 workers and had been contracted to…

Toys “R” Us in America forced to shutter two remaining stores due to COVID-19 – 9News

Toys “R” Us is closing its only two stores roughly a year after a highly anticipated relaunch of the storied brand. Tru Kids Inc., which bought the retailer in a 2018 liquidation sale, confirmed that its two locations in New Jersey and Texas that opened in late 2019 have permanently closed because of the pandemic.…

Chinese businesswoman Sally Zou was top SA Liberal donor, electoral commission data shows – ABC News

Chinese businesswoman Sally Zou was the single highest donor to the SA Liberal Party during the 2019-20 financial year, according to the Australian Electoral Commission’s (AEC) latest donation disclosures. Key points: Sally Zou’s company donated more than $180,000 to the SA Liberals in the past financial year She also made payments of $130,000 to the…

Virgin Has Launched a Week-Long Sale with 1.9 Million Flights Starting from $75 – Concrete Playground

No matter where you are in Australia, you probably spent the majority of 2020 in your own state and in your own bedroom thanks to interstate border restrictions. Limits on domestic travel have still been popping up in 2021 so far; however, if you’re still keen to see more than your own backyard this year,…

HSBC, banks repayment hopes fade with Hin Leong liquidation plan – The Straits Times

SINGAPORE (BLOOMBERG) – HSBC Holdings and other global banks owed US$3.5 billion (S$4.66 billion) by Hin Leong Trading may recoup less than expected from the collapsed Singapore oil trader after a sale process failed to attract bids for the company. Hin Leong’s court-appointed managers plan to file an application next week to wind up the…

Retailers, builders, towies: First company collapses of 2021 – Queensland Times

Food, transport and building companies were among 25 Queensland firms that collapsed into liquidation or administration in January. That was half the number of companies that failed in December but experts warn that the tally will likely increase in coming months as pandemic-related support measures are withdrawn. Hall Chadwick partner Ginette Muller said there could…

Xinja seeks shareholder support for plan to relaunch as US share trading platform – Brisbane Times

Loading Obviously any return will be a long, multi-year path back for Xinja, the letter said. If shareholders are willing to support it, the business may be able to reset and rebuild shareholder value. Xinja shocked shareholders and customers when it announced plans to close all customer accounts and return its banking licence, 15 months…

Dyldam Group Creditors Chase $500 Million – The Urban Developer

Creditors of 22 companies connected to the flagging Dyldam Group are reportedly chasing $500 million in debt, as the company wades through voluntary administration proceedings. According to the Australian Financial Review, minutes of the first creditors meeting held in January and lodged with ASIC show total debt claims of $510 million. McGrathNicol was appointed as…