Amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons … – Business Standard

Liquidation

The Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 yesterday. According to the Amendments, a. The Resolution Professional shall appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor. After the receipt of…

Car manufacturing startup Tomcar Australia collapses, citing hostile investors and high costs – SmartCompany.com.au

Liquidation

Car manufacturing startup Tomcar Australia has entered voluntary administration, citing high manufacturing costs and hostile investors as the reason for shutting its doors. Launched in 2005, the company was founded by brothers David and Michael Brim, who spent seven years in development before releasing their first product in 2012. The company made 100 of its…

Leading Edge store enters liquidation leaving $1.2M in debt – ARNnet

Liquidation

Leading Edge Computers member store, Coffs Computing Services, has been placed in liquidation owing $1.2 million to creditors. The company was registered with the Australian Securities and Investments Commission (ASIC) in March 2001 as Webtrap Pty Limited. David Michael Morgan and Morgan James Chubb from Clout & Associates were appointed liquidators on 8 January 2018. …

Cooper and Oxley drama: Builder hits back at critics as sites remain locked – The West Australian

Liquidation

The owner of embattled builder Cooper & Oxley has broken his silence, hitting back at claims subcontractors were mistreated and revealing the cause of the companys financial difficulties. Managing director George Hampel yesterday rejected claims the builder had used subcontractors as banks and owed them up to millions of dollars each. Cooper & Oxley is…

Leading Edge store enters liquidation leaving $1.2M in debt – ARNnet

Liquidation

Leading Edge Computers member store, Coffs Computing Services, has been placed in liquidation owing $1.2 million to creditors. The company was registered with the Australian Securities and Investments Commission (ASIC) in March 2001 as Webtrap Pty Limited. David Michael Morgan and Morgan James Chubb from Clout & Associates were appointed liquidators on 8 January 2018. …

40 corporate insolvency resolutions completed: Government – Economic Times

Liquidation

NEW DELHI: As many as 40 corporate insolvency resolutions, under the Insolvency and Bankruptcy Code, have been completed, Union Minister P P Chaudhary said today. The Code, which provides for market–determined and time– bound resolution process, is being implemented by the Insolvency and Bankruptcy Board of India (IBBI). “By December 2017, 40 transactions of corporate…