Category Archives: Liquidation

Hospitality sector hit by a wave of administrations as it grapples with the post boom economy and stay-at-home drinkers – The West Australian

POOLSIDE Runway Show at Matisse Beach Club on Saturday January 21st, 2017. Fashion Parade Picture: John Koh. With a clutch of appointments into the sector in recent months, insolvency firm McGrathNicol is cautioning about growing stress in WAs hospitality industry. The combination of WAs softer post-resources boom economy, cautious consumers and stay-at-home drinkers tapping the…

NCLT admits SBI’s insolvency application against Electrosteel Steels – Moneylife

The Kolkata bench of the National Company Law Tribunal (NCLT) on Friday issued an interim order admitting State Bank of India’s (SBI) insolvency application against the city based Electrosteel Steels Limited for initiating the corporate insolvency resolution process. “The petition filed by the Financial Creditor (in the case SBI) under section 7 of the Insolvency…

NCLT admits SBI’s insolvency application against Electrosteel Steels – India.com

Kolkata, July 21 (IANS) The Kolkata bench of the National Company Law Tribunal (NCLT) on Friday issued an interim order admitting State Bank of Indias (SBI) insolvency application against the city based Electrosteel Steels Limited for initiating the corporate insolvency resolution process. The petition filed by the Financial Creditor (in the case SBI) under section…

Business failure rate in Scotland falls 27%, new figures reveal – insider.co.uk

The business failure rate in Scotland rate fell significantly in the three months to June, new figures for KPMG show. The professional services firm said total corporate insolvency appointments fell 27 per cent to 196 in the second quarter to 30 June, down from 270 recorded in Q2 of 2016. Separate research from R3, the…

Flynn Transport owes $1.4 million in super and tax – Northern Star

RECENTLY collapsed Northern Rivers trucking company Flynn Transport owes more than $800,000 to the Australian Tax Office for unpaid employee superannuation, according to documents from a creditor’s meeting held this week. The debt is held by NSW Employment Company Pty Ltd, one of the three companies which went into liquidation when Flynn officially closed on…

Sears liquidation sales start Friday. Expect savings of up to 50%, company says – Globalnews.ca

Liquidation sales kick off Friday at the 59 locations that embattled retailer Sears Canada plans to close as part of its corporate restructuring. (See a complete list of closing locations at the bottom of this page.) Customers can expect savings of up to 50 per cent off,  the company told Global News. Sears Canada filed…

Olly Murs gigs cancelled after company goes into liquidation – NME.com

Many fans aren’t being offered refunds. Two of Olly Murs upcoming summer concerts have been cancelled because the company that organised them has gone into liquidation. The pop singers gigs in Powderham Castle, Exeter on July 29 and Kings Park, Bournemouth on August 5 have both been scrapped. At the moment, many fans who bought tickets…

It Could Be Time To Say Goodbye To One Of Australia’s Biggest Brands For Good – Hit 107

It wasnt too long ago that we heard the news that Top Shop had gone into voluntary administration, but now they could be shutting their stores for good. As their sales continue to fall, we have heard the news that Myer has closed its 17 Topshop franchises.  The company has already closed a number of…

Deccan Chronicle loan fraud case: Insolvency process begins after Canara Bank petition – The News Minute

The National Company Law Tribunal (NCLT) has appointed an insolvency resolution professional. The National Company Law Tribunal (NCLT)’s Hyderabad bench appointed an insolvency resolution professional (IRP) on Wednesday, to resolve the crisis faced by the Deccan Chronicle Holdings Limited (DCHL).  The Times of India reported that the NCLT invoked Section 7 of the Insolvency and Bankruptcy Code (IBC),…

DCHL debt crisis: NCLT kick-starts insolvency process – Times of India

HYDERABAD: Invoking Section 7 of the Insolvency and Bankruptcy Code (IBC), the National Company Law Tribunal (NCLT) bench at Hyderabad on Wednesday appointed an insolvency resolution professional (IRP) for resolving the debt crisis at Hyderabad-based Deccan Chronicle Holdings Ltd (DCHL) and declared a moratorium of 180 days. A bench of Rajeswara Rao Vittanala, member (judicial),…