Some breather Calcutta: Corporate resolution of financially stressed companies under Insolvency and Bankruptcy Code, 2016 received a leg up in the Union budget after the Centre allowed multiple tax relief to iron out some of the glitches from the process. The government allowed bidders to suck the benefit of unabsorbed depreciation or huge losses when…
Related Story: Custom Coaches jobs to go despite sale to consortium Related Story: Jobs to go as Custom Coaches closes in Adelaide A New South Wales bus manufacturer looks set to close after laying off more than 120 staff this week, with their union laying blame on the State…
Related Story: Custom Coaches jobs to go despite sale to consortium Related Story: Jobs to go as Custom Coaches closes in Adelaide A New South Wales bus manufacturer looks set to close after laying off more than 160 staff this week, with their union laying blame on the State…
2018 looks set to be another hard year for the retail sector, with news a retailer operating for almost six decades is the latest casualty of the industry malaise. Kangaroo Tent City & BBQs, an NSW manufacturer and retailer of camping and outdoor gear, announced its collapse on 2 February. The company, which operates six…
The Australian Taxation Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in November last year.…
Petra Hair Care has collapsed into liquidation after 52 years in business. The chain started business as a hairdressing salon in Melbourne’s Elizabeth Street in July 1966 where it became apparent there was a market for selling hair care to the home. Petra Hair Care grew to five stores across Melbourne. Photo: Stocksy Soon the salon…
110 reading now The Australian Tax Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in…
The company overseeing The Outdoor Furniture Specialists chain has gone into voluntary administration amid increasingly challenging times for the retail sector as online competition escalates and more international entrants shore up. The Brisbane-based firm is the head franchisor for 46 stores in Australia and claims to be the largest specialist outdoor furniture retailer in the country. The company…
43 reading now The Australian Tax Office bid to wind up the company behind Damian Griffiths’ Les Bubbles restaurant has been dismissed after the company went into liquidation on Thursday. The matter was heard briefly in The Federal Court in Brisbane on Friday where Registrar Katie Lynch dismissed a wind-up application filed by the ATO in…
ET Bureau| Feb 01, 2018, 12.23 AM IST Under Section 29A of the Insolvency and Bankruptcy Code promoters of any defaulting company are ineligible to be a resolution applicant. NEW DELHI: The government is considering amending the Insolvency and Bankruptcy Code (IBC) to allow a person who acquires an insolvent asset that has a subsidiary…