Noting immediate issues for meeting financial obligations, Michigan-based sporting goods retailer MC Sports this week announced it’s filing for Chapter 11 bankruptcy protection. The chain, headquartered in Grand Rapids, recently has operated 68 retail locations, including sites in Petoskey and Gaylord. While noting plans for liquidation sales at all of the chain’s stores, a press…
The Ministry of Corporate Affairs on Wednesday announced the set-up of four working groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016. The working group three had a mandate to deliberate and submit its recommendations on rules and regulations and other related matters for the insolvency and liquidation process under the Insolvency and…
The enactment of a comprehensive insolvency code is one of the most significant achievements of the incumbent government. Keeping with its commitment to improve the countrys ranking in the World Banks Ease of Doing Business, the government has already initiated steps for implementation of the Code. The swiftness and speed in notifying certain provisions of…
NATIONAL Sporting goods retailer MC Sports filed Chapter 11 bankruptcy, and a statement released Tuesday says the retailer will begin liquidating its assets, including all 68 of its stores. The Grand Rapids, Michigan-based chain released a statement on February 14, explaining it has initiated voluntary reorganization proceedings under Chapter 11 of the U.S. Code in…
By Monique Friedlander For Daily Mail Australia Published: 14:20 +11:00, 12 February 2017 | Updated: 19:34 +11:00, 12 February 2017 e-mail 397 shares 13 View comments A fitness course backed by Biggest Loser trainer Steve ‘Commando’ Willis has gone into voluntary administration. Sage Institute of Fitness consists of seven campuses around Melbourne, Sydney and Brisbane,…
The company hired to liquidate the contents of the soon-to-be-demolished Georgia Dome once auctioned off a urinal from the St. Louis Cardinals clubhouse to a baseball fan for about $2,500. So dont be surprised, Schneider Industries chief operating officer Dan Rosenthal said with a laugh, if the company tries to sell a Dome urinal or…
New Delhi: The Insolvency and Bankruptcy Board of India, or IBBI, on Tuesday sought public comments on draft rules outlining the process that companies can follow for voluntary liquidation under the Insolvency and Bankruptcy Code, 2016. A company that has not defaulted on loans may initiate voluntary liquidation subject to certain conditions, according to the…
Hartlepool United chairman Gary Coxall has used social media to try to reassure fans after a business linked to the clubs owners went into liquidation. JPNG Recruitment appointed a voluntary liquidator on February 1. Mr Coxall said on Twitter that Pools is owned by JPNG Limited and that the liquidation will not affect the club.…
Shutterstock photo By Guillermo Parra-BernalSAO PAULO, Feb 13 (Reuters) – A Brazilian land developer controlled by Carlyle Group LP <CG.O> investment vehicles is buckling under mounting client and creditor lawsuits and an unsustainable debt load, highlighting legal risks facing global buyout giants in Latin America’s No. 1 economy. The survival of Urbplan Desenvolvimento…
The corporate insolvency and bankruptcy system would be fully functional by 31 March 2017, says MS Sahoo, chairman of the bankruptcy regulator, Insolvency and Bankruptcy Board of India. Though the system has started working from 1 December 2016, there are still some parts — finalising regulations of information utilities and voluntary liquidations — which are…