Steinhoff International Holdings has detailed the application put forward by the company of former business partner Andreas Seifert to block the voluntary administration of its European business. According to the furniture conglomerate, the application alleges that Steinhoff Europe owed LSW GmbH a total of $464.86 million (291.4 million) as of 14 December 2018, and seeks…
Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration. Christopher Hill andPhilCarter of PwC Australia were appointed joint administrators of Flow Systems Pty Ltd and related entities on 20 December 2018 after a sale process initiated by majority shareholder Brookfield failed to find new owners.…
Falcon Tyres, previously owned by Ruia Group, may end up liquidated after failing to attract any bidders for takeover of the stressed assets. The company is currently undergoing insolvency resolution process in the Bengaluru Bench of the National Company Law Tribunal (NCLT). In case of liquidation, lenders are seen taking at least a 52…
With the reference to our earlier intimation notice dated 18th January, 2019 for 14th meeting of the Committee of Creditors (COC) which was scheduled to be held on 22nd January, 2019 at 03:00 pm, we hereby inform you that the same meeting has been rescheduled on Tuesday, 22nd January, 2019 at 10:45 am at the…
Yet another iconic Australian fashion brand has fallen victim to the ailing retail sector, with sportswear manufacturer Skins on the brink of collapse. The company has applied for bankruptcy in a Swiss Court, with chairman Jaimie Fuller confirming the news and revealing his devastation in a lengthy public statement. The threat ahead for axed Karl…
SINGAPORE – Water cleaning firm Hyflux faced its grey-haired creditors on Friday (Jan 18) for the second time since it filed for bankruptcy protection, in a bid to rally support to carry through what has proven to be a tough rescue deal. No definitive answers were given when investors asked repeatedly how much of their…
Four days after Indias biggest lender rushed to sell its outstanding advances to Essar Steel, New Delhi appears to be stepping in to help expedite the resolution of top 12 default cases that make up about a fourth of the countrys bad-loan pile. The government has called a meeting on Monday with the resolution professionals…
With the reference to our earlier intimation notice dated 14th January, 2019 for 14th meeting of theCommittee of Creditors (COC) which was scheduled to be held on l8h January, 2019 at 11:30 am, wehereby inform you that the same meeting has been postponed and it is rescheduled on Tuesday, 22ndJanuary, 2019 at 03:00 pm at…
Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly note that the first Meeting of Committee of Creditors (COC) was held on January 11, 2019 to discuss inter alia the agenda item relating to continuation/appointment of Mr Shailendra Ajmera appointed as the Interim Resolution Professional by the Honble…
LuLaRoes chief clothing supplier, Providence Industries, has demanded that a court immediately seize nearly $US34 million in assets from the company. The demand, made in court filings on Tuesday, cites testimony from nine former LuLaRoe consultants who claim LuLaRoe collectively owes them more than $US63,000 in refunds for unsold inventory that they returned to the…