Building contractor Edwards Constructions to emerge from administration, continue trading – Illawarra Mercury

Liquidation

Sub-contractors affected by a prominent local building companys financial woes appear set to receive some monetary relief.   An administrator at the time estimated that the company owed between $4 million and $6 million of creditors. More than 200 creditors are reportedly affected.  However, the building contractor will emerge from administration after having secured the support of creditors earlier this week…

Building contractor Edwards Constructions to emerge from administration, continue trading – Illawarra Mercury

Liquidation

Sub-contractors affected by a prominent local building companys financial woes appear set to receive some monetary relief.   Edwards Constructions (NSW) Pty Ltd – which was building the new Bellambi Bunnings – went into administration in October.  An administrator at the time estimated that the company owed between $4 million and $6 million of creditors. More than 200 creditors are reportedly affected. …

Sherri Parker Chapman and Susan Parker launch estate liquidation company – AL.com (blog)

Liquidation

Sherri Parker Chapman and Susan Parker are launching Southern Estate Liquidations, a revolutionary estate liquidation company. Southern Estate Liquidations will be pioneering the way for estate owners across the Southeast with its finger is on the pulse of the most aggressive buyers and sellers. This cutting edge company is ready to revolutionize the “Mom and…

Decoding the grey areas of Insolvency and Bankruptcy Code – Moneycontrol.com

Liquidation

Manoj K Singh The Insolvency and Bankruptcy Code (IBC), 2016, has been enacted to reorganise and provide for the insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner inter alia for maximisation of value of assets. The Corporate Debtors, Operational Creditors, Financial Creditors, Insolvency Professionals and other persons involved in the…

NCLT withdraws insolvency against Trivitron – Times of India

Liquidation

TNN | Dec 13, 2017, 04:00 IST The Chennai bench of the NCLT (National Company Law Tribunal) has dismissed as “withdrawn” the corporate insolvency resolution process against Trivitron Healthcare, a leading medical devices maker, under IBC (Insolvency and Bankruptcy Code), following its compromise with RNB Design Arc Systems. RNB initiated insolvency proceedings against Trivitron in…

ASIC: Most companies fail because they can’t stop spending … – Business Insider Australia

Liquidation

Almost 5000 companies were reported to the corporate regulator for insolvent trading in 2017 and high cash burn or inadequate cash flow was the main reason for corporate death. Regulator ASICs 2016-2017 insolvency report found administrators reported 4878 cases of insolvent trading. The next two major forms of misconduct were not undertaking director duties carefully…

No insolvency proceedings against firm for lease dues – Times of India

Liquidation

Chennai: Can insolvency proceedings be initiated against a company for failing to refund the security deposit it took to lease premises? No, says National Company Law Appellate Tribunal (NCLAT). The reason such dues do not fall within the meaning of ‘operational creditor’, who along with financial creditors, can file for insolvency against a company under…