Category Archives: Liquidation

Huge debt: Building firm Peter O’Brien Constructions in voluntary … – Blayney Chronicle

VOLUNTARY ADMINISTRATION: Peter O’Brien. Regional building company Peter OBrien Constructions has gone into voluntary administration after being owed $12 million by debtors including a government organisation. The Blayney-based firm owes $5.7 million to creditors including regional subcontractors. A statement released by Mr OBrien said he and his wife Melissa had been forced to sell their assets. The OBriens have put…

The Supreme Court was Right to Pierce the Jaypee Group’s Corporate Veil – The Wire

Share this: A recent and troubling editorial by The Economic Times shows how Jaypees defence against angry homebuyers looking for justice is often bought hook, line and sinker. While Jaypee would be happy to have JIL fall into insolvency, letting them off the hook when it comes to stranded home buyers, the Supreme Court put a stop…

Insolvency & Bankruptcy Code- SC Interprets Scope Of ‘Existence Of … – Live Law

The judgment of the Supreme Court in Mobilox Innovations Pvt.Ltd. v.Kirusa Software Pvt.Ltd. rendered by a bench of Justices R. F Nariman and Sanjay Kishan Kaul settles a significant issue under the Insolvency and Bankruptcy Code 2016. The issue was whether the existence of a dispute by itself without the record of initiation of any…

Rockwell put into provisional liquidation as Metis bows out – Mining MX

ROCKWELL Diamonds has gone into provisional liquidation after the Kimberley High Court granted an order to discontinue the services of the stricken firms business rescue practitioner Metis Strategic Advisors. According to a note sent to Rockwell employees by Peter van den Steen, a director of Metis Strategic Advisors, there was still a chance the company…

The confusion around status of home buyers under bankruptcy law – Business Today

Not so long, all the creditors, as well as the debtors were welcoming the move of the legislature in introducing the now most complicated Insolvency and Bankruptcy Code, 2016 (Code) but now everybody has realized that the code which is well defined procedurally is actually having many issues which need to be settled. The most…

Rockwell put into provisional liquidation as Metis bows out – Mining MX

ROCKWELL Diamonds has gone into provisional liquidation after the Kimberley High Court granted an order to discontinue the services of the stricken firms business rescue practitioner Metis Strategic Advisors. According to a note sent to Rockwell employees by Peter van den Steen, a director of Metis Strategic Advisors, there was still a chance the company…

Scandal-plagued Acquire Learning goes into administration – Gippsland Times

Scandal-plagued Acquire Learning goes into administration exit The shakeout of Australia’s privatised vocational education market has claimed one of its biggest players. Acquire Learning, a company which once boasted former AFL boss Andrew Demetriou as chair of its advisory council, went into voluntary administration on Friday on the verge of insolvency. Back in 2014 the…

Maoists damage Essar Steel’s slurry pipeline from Dantewada to Vizag – Economic Times

BHUBANESWAR: Members of the banned CPI (Maoist) have allegedly damaged Essar Steel‘s 273-km iron ore slurry pipeline from Dantewada in Chhattisgarh to Visakhapatnam in Andhra Pradesh near Odisha-Andhra border. The pipeline is critical for Essar‘s Visakhapatnam steel plant, bringing 22,000 tonnes of iron ore daily from state miner NMDC’s Bailadila mines in Dantewada to the…

Kid Brands Bankruptcy Liquidation Sought – Bankrupt Company News (press release) (blog)

AdvertisementThe U.S. Trustee assigned to the Kid Brands case filed with the U.S, Bankruptcy Court a motion to convert the Companys Chapter 11 reorganization to a liquidation under Chapter 7. Advertisement The motion explains, The Debtors have failed to comply with the United States Trustee Operating Guidelines and Reporting Requirements for…

Stochastic into liquidation – Business News

Oil and gas software developer Stochastic Simulation has entered into liquidation, around five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best case scenario. The Osborne Park-based company developed products such as GasAssure and ResAssure, which were used in evaluation of reservoirs and…