Mumbai: Innoventive Industries has challenged the interim resolution professional’s (IRP) proposal to liquidate the company at the National Company Law Tribunal (NCLT) on grounds that three of its 21 lenders are creating hurdles in reviving the company. Innoventive Industries was the first case referred to the tribunal by ICICI Bank after the new Insolvency and…
ET Bureau| Updated: Oct 19, 2017, 11.30 AM IST The extended deadline for Nicco’s debt resolution expired on October 13. EXPAND TO VIEW ALL Kolkata: The National Company Law Tribunal (NCLT) has ordered liquidation of Nicco Corporation, a specialised cable maker and a defaulter of nearly Rs 300 crore of bank loans, and one of…
The Australian Tax Office is $535,000 out of pocket after the building company of Joe Scaffidi, the husband of Perths embattled Lord Mayor Lisa Scaffidi, folded in August. The company, Premier Building Solutions, is one of the entities caught up in the long-running legal brawl between Mr Scaffidi and his estranged brother, Gino. In 2014…
Accepting the reality there was “no future for the business” BMS Technology directors, John and Beverley Reid made the agonising decision to enter into voluntary administration. The Adelaide-based hardware distributor had been operating for 31 years and expanded into office and warehouse facilities in Perth and Melbourne. Peter Macks and Ian Burford of Macks Advisory…
By The Canadian Press Wed., Oct. 18, 2017 An Ontario judge has approved Sears Canadas request for a revised retention bonus plan for key head office staff and store managers who stay through its liquidation process. The number of people covered by the retention plan for head office executives and staff has dropped to 36…
Accepting the reality there was “no future for the business” BMS Technology directors, John and Beverley Reid made the agonising decision to enter into voluntary administration. The Adelaide-based hardware distributor had been operating for 31 years and expanded into office and warehouse facilities in Perth and Melbourne. Peter Macks and Ian Burford of Macks Advisory…
The uptake of cloud-based solutions among local businesses and increased market competition are two factors that have played a part in seeing Queenslands Data Centre Technologies enter voluntary liquidation. Joint liquidators, David Hambleton and James Imray of Rodgers Reidy, were appointed on 14 October; more than two decades after the Data Centre Technologies began operating,…
The Canadian Press Published Wednesday, October 18, 2017 4:03AM EDT Last Updated Wednesday, October 18, 2017 12:30PM EDT TORONTO — An Ontario judge has approved Sears Canada’s request for a revised retention bonus plan for key head office staff and store managers who stay through its liquidation process. The number of people covered by the…
KOLKATA: The National Company Law Tribunal has ordered liquidation in Nicco Corporation, a specialised cable maker and a defaulter of nearly Rs 300 crore of bank loans, and one of the first movers to bankruptcy court. The NCLTs Kolkata bench passed the order Tuesday as lenders led by State Bank of India rejected the debt…
WA rugby could be driven to extinction by the Australian Rugby Union as it chases costs for the legal actions launched to save the Western Force being axed from Super Rugby. The costs, understood to be around $1 million, could force RugbyWA into voluntary administration but ARU chief executive Bill Pulver has made it quite…