The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India.(Representational image) The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India, sources aware of the development told FE. The Nagpur-based firm had filed a petition for the initiation of…
Coimbatore: Operational hurdles, including that from non-cooperative promoters and staff of company under insolvency process is forcing interim resolution professionals (IRPs) to move National Company Law Tribunal (NCLT). In a recent case involving ABG Shipyard, Sundaresh Bhat, the IRP, moved the Ahmedabad bench of the NCLT to stop an electricity company from disconnecting power supply…
Other peoples cat and mouse tactics set Jarrod Conroy on the path to commercial solar, the founder of Victoria and NSW business Roycon tells EcoGeneration. How long have you been installing solar? I was doing it as an apprentice back in 2011. Systems were pretty much free with the rebates at the time. It was…
Oroton stores will operate as usual after the 79-year-old Australian luxury handbag retailer collapsed into voluntary administration. The company says it has been unable to find a viable option for recapitalising or selling the business following a seven-month strategic review. Interim chief executive Ross Lane, the grandson of Oroton founder Boyd Lane, said there was…
The 79-year-old luxury handbag retailer has struggled financially in sales, resulting in $14.3 million in losses last year according to The Herald. This was compared to a $3.4 million profit the previous year. The company revealed this morning that an eight-month strategic review failed to find a “viable option” to secure its future. In a statement to the…
Bryan and Mai Hughes plan to launch My Foodie Kit in March. Picture: Simon Santi When you think of Bryan Hughes, corporate insolvency and hardcore business negotiations usually spring to mind. But the Pitcher Partners chairmans latest venture is a completely different flavour. He and wife Mai are launching meal-kit business My Foodie Box a…
UPDATE 12PM: THE administrators of embattled Ostwald Construction Materials has confirmed today that Ostwald brothers Brendan, Daniel and Matthew will regain control over the company. After a second creditors meeting this morning, administrator Derrick Vickers of PriceWaterhouseCooper revealed that creditors had accepted a Deed of Company Arrangement (DOCA) submitted by the three brothers and a “silent…
A Tauranga building company is being wound up after work stopped on about 30 houses at The Lakes in October. Bella Vista Homes went into voluntary liquidation this week, leaving one young family worried about the prospect of incurring extra costs to complete their home. Liquidator and Hamilton accountant Kim Thompson said that everyone who…
LUXURY handbag maker Oroton has collapsed, becoming the nation’s latest retail victim. The listed luxury retailer, whose most recent public face has been Aussie actor Rose Byrne, announced this morning is was placing itself in voluntary administration. Since the announcement was made, people have been hitting the label’s outlet website to snap up heavily discounted…
Rigby Cooke Lawyers has strengthened its expertise in litigation and insolvency with the appointment of Katerina Poulakis as senior associate. Poulakis, who has 10 years experience as a lawyer, came from SLF Lawyers. She has a wide range of expertise, including acting in contract, franchise, property and Australian Consumer Law disputes. She also advises in…