10 November 2020: Proposed legislation which places certain conditions on connected person sales in administration is very much under the spotlight. Will the proposed regulations solve the perception problem? A framework in which companies can be rescued or dissolved but endeavours to preserve jobs and look out for creditors is intrinsic to doing business. COVID…
A company that once billed itself as Brisbane’s premier home extension and renovation business may have been trading insolvent for up to a year before going into liquidation with creditors unlikely to see any of their money, according to liquidators. Total Lifestyle Builders Pty Ltd which went into liquidation in June this year owing more…
Latest News McGrathNicol Restructuring has been appointed as voluntary administrator of Tiger Resources to assess the future of the company and its assets. McGrathNicol Restructurings Rob Kirman and Rob Brauer will work alongside Tigers management and directors to explore options of either selling or recapitalising the company. The voluntary administration does not extend to Tigers…
Sunday, November 8, 2020 In the case of Anuj Jain Interim Resolution Professional for Jaypee Infratech Ltd. v Axis Bank Limited Etc.[i] the Supreme Court of India (SC) has laid down detailed principles for the identification of a preferential transaction which could be voided under the Insolvency and Bankruptcy Code, 2016 (Code). The judgment is…
Matthew Davey. PHOTO: ODT FILES The company behind Ticket Rocket that is now in liquidation has debts of more than $8 million, according to the first receivers report into the business. BDO receiver and manager Diana Matchett reported Fortress Information Systems Limited which has three subsidiaries known as Dash Group, Dash Tickets and Dash Tickets…
WENN The Saunders and French Productions are closing their operations after filing for voluntary liquidation, nearly three decades after the firm was founded by the actress duo in 1992. U.K. comedy legends Dawn French and Jennifer Saunders are shuttering their shared TV production firm after almost three decades. The double act launched Saunders & French…
BREAKING: Perth-based Indigenous health provider Derbarl Yerrigan Health Service was placed under special administration on Friday despite protest from two Board Directors. In an announcement via Facebook, Derbarl Yerrigan Deputy Chair Laurence Riley said six members of the Board moved a resolution at a meeting on Thursday night to put the health service into voluntary…
The Illawarra name will return for the upcoming NBL season, if the Hawks reach a new membership target. Following a corporate and community backlash over the decision to dump the name and simply call the club ‘The Hawks’, the new owners and the NBL announced on Friday morning, Illawarra would be reinstated. However, it will…
The current critical situation would increase the out-of-court M&A deals for distressed assets November 5, 2020 3 min read Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. COVID-19 knocked the wind out of merger and acquisition (M&A) deals in India.It has already and shall continue…
Foreword from the Chief Executive This year the plan has been developed against the backdrop of the COVID-19 pandemic, which has impacted on the economy in an unprecedented way. The Insolvency Service has an important role to play in supporting businesses and individuals in financial difficulty or facing redundancy as a result of their employer…