Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. (Website) Debt-laden IVRCL, which is undergoing insolvency process, said that its resolution professional (RP) has invited expression of interest (EoI) from potential resolution applicants. The company is facing insolvency proceedings after it…
Australian fashion brand Metalicus has entered voluntary administration and will today begin a major sale across all of its outlets. In an email to customers on Wednesday evening, the company acknowledged the difficult period for our staff and customers, as it explained plans to launch a sale event at all of its flagship stores, Myer…
A top restructuring and insolvency lawyer has traded a global firm for another in Singapore. Wither KhattarWong (WKW), the Singapore Alliance firm of Withers, has appointed Justin Yip as a partner in its dispute resolution team. Yip came from Morgan Lewis Stamford, the alliance firm of Morgan, Lewis & Bockius in the city-state. As Singapore…
GLADSTONE accounting firm Corporate Accountants has been wound up because it owes a quarter of a million dollars to the Australian Taxation Office. The company’s directors appointed liquidators John Shanahan and Clare Birnie on March 29. The Gervase Consulting liquidators have launched an investigation into what led to the business’s collapse and identify who the…
Rural and regional telecommunications carrier Field Solutions Holdings (ASX:FSG) is boosting its Queensland footprint with the construction of new infrastructure in the states central region. The publicly-listed telco and cloud solutions provider told shareholders on 9 May that it will deploy both fixed wireless and rural reach network solutions to the Blackall and Tambo townships,…
>>RELATED: 23 building sites across Toowoomba at standstill >>REFUSED: QCAT refuses stay of licence suspension A CONSTRUCTION company in charge of 23 sites across Toowoomba when its building licence and that of its director was suspended in late 2017 is now in liquidation. My Home Builders Qld Pty Ltd was hit with an application for…
Photo: Mint New Delhi: The National Company Law Tribunal (NCLT) principal bench on Tuesday admitted Union Bank of Indias (UBIs) plea seeking initiation of insolvency proceedings against Era Infra Engineering Ltd for recovery of Rs681.04 crore, along with an overdue external commercial borrowing of $11.97 million. The order on admission of the plea was reserved…
Franchisees gagged Steve Beadle’s Red Rooster franchise in the Melbourne suburb of Lyndhurst went into liquidation three months ago and Beadle says he was “effectively a slave” working for free for seven years and ending up $500,000 in debt. But Beadle says most current and former franchisees can’t reveal their struggles with Craveable as they…
On Tuesday Baby Bunting confirmed that sales and gross margins had been damaged “both in the lead up to and since these competitors entered administration”. What we have seen in the industry during this financial year in terms of the extent of consolidation is unprecedented,” Baby Bunting chief executive Matt Spencer said in a statement.…
The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. That’s because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…