ADMINISTRATORS for Ostwald Bros have revealed to The Chronicle the full list of creditors owed money. The list includes big names such as Wagners, IOR Petroleum, Ergon Energy, FKG Group, Caltex and Coates Hire. Staff are also believed to be owed about $4 million in redundancy payouts, but that number could climb if more workers…
Introduction Status of ‘other’ creditors Comment Introduction In 2016 India overhauled its existing legal framework on bankruptcy and insolvency processes and the new Insolvency and Bankruptcy Code 2016 aimed at streamlining the bankruptcy resolution process was enacted. Simultaneously, an increasing level of non-performing assets in the Indian banking sector triggered the promulgation of the Banking…
CHENNAI: The Chennai bench of the National Company Law Tribunal (NCLT) on Thursday adjourned hearing on an insolvency case against homestay aggregator Stayzilla to September 12. Vendor Jigsaw Solutions has filed a petition seeking initiation of corporate insolvency as an operational creditor under Section 9 of the Insolvency & Bankruptcy Code 2016 against Inasra Technologies…
The next hearing will happen on September 12 at the Chennai bench of NCLT. There seems to be no end to legal battles for Homestays startup Stayzilla. Five months after co-founder Yogendra Vasupal was granted bail by Madras High Court, the company is now contesting a petition filed by vendor Jig Saw at the Chennai…
CREDITORS will decide the fate of a Gladstone and Calliope health service provider after they were placed in voluntary administration this week. Australian Securities and Investments Commission documents show the owner of Gladstone Valley and Calliope Medical Centres, Medifield, was placed in the hands hands of creditors on September 4. The filings were made ten…
CHENNAI: Homestay aggregator, Stayzilla is now fighting to stay alive, putting forth its strongest arguments on why it should not be liquidated. The next round of debate will happen on Thursday at the Chennai Bench of NCLT, where its vendor Jigsaw Solutions has initiated insolvency proceedings against Stayzilla. The advertising agency has filed a petition…
Telstra reseller, Interactive Telecoms, is likely to enter into liquidation today, following the closure of the business in early August. The companys joint administrator, Ian Purchas, told ARN that Telstra withheld a “significant payment” after terminating its licensing agreement with the reseller. The New South Wales-based company entered into voluntary administration on 2 August and…
Telstra reseller, Interactive Telecoms, is likely to enter into liquidation today, following the closure of the business in early August. The companys joint administrator, Ian Purchas, told ARN that Telstra withheld a “significant payment” after terminating its licensing agreement with the reseller. The New South Wales-based company entered into voluntary administration on 2 August and…
THE future of Ostwald Bros still hangs in the balance, with interested parties set to decide within weeks whether to dissolve or save the business. Dozens of unsecured creditors met with the administrators for the struggling civil construction company in Toowoomba yesterday, as further details were revealed about its financial woes. PriceWaterhouse Coopers’ Derrick Vickers…
TORONTO, Sept. 6, 2017 /CNW/ – GSNH LLP continues to build and strengthen its growing Restructuring & Insolvency Group with the arrival of Jennifer Stam. Jennifer was previously a Partner at Gowling WLG. Jennifer’s joining the Group reinforces its position as a leading insolvency law boutique offering clients sophisticated insolvency expertise with an entrepreneurial, facilitative…