In the Indian banking sectors chase towards better NPA and distressed asset resolution governance, the Insolvency and Bankruptcy Code is a good tool. It surely has brought increased corporate accountability to the overall system. Especially considering what it has achieved so far and what it has taught as limitations so far. The first objective of…
2 hours ago Matthew Barlow,BBC News, Derby Leigh Timmis A bicycle manufacturer is to enter voluntary liquidation after almost 80 years crafting and designing bicycle frames. Mercian Cycles, based in Derby, launched in 1946 and has continued to create bespoke bikes by hand throughout its history. Its products have been used by cyclists who have…
Sunshine Private Hospital in St Albans is cancelling surgeries and relocating patients as it is placed into voluntary administration. First on ABC Radio Melbourne Drive, administrators say there was no funding available to continue operating the hospital, which only opened last year. Dr Gareth Weston, a Monash IVF Fertility Specialist who works at Sunshine Private, told…
Building costs and skilled worker shortages have forced a Central Coast construction company into voluntary administration. Stevens Constructions has worked on luxury projects across the region since 2006. Read the full article at: https://www.nbnnews.com.au/2024/05/29/central-coast-construction-company-enters-voluntary-administration/
A string of Brisbane bakeries and other hospitality venues run by award-winning chef Shannon Kellam have shut down, with the company behind them collapsing and 90 staff losing their jobs. Kellam’s BCN Events Group, which runs a number of hospitality businesses including King Street Bakery and Mica Patteserie, called in Mark Holland, Jamie Harris and…
Fruit and vegetables have recorded their largest annual price rises in a year, increasing by 3.5 per cent. The Australian Bureau of Statistics has today released its latest annual inflation data, revealing that increases in food, housing, alcohol and transport costs have driven inflation to 3.6 per cent. Fruit and vegetable prices have recorded their…
RUMOUR CONFIRMED Last Friday, The Rumour File was alerted to a private hospital which had entered voluntary administration. It was confirmed this morning, with hospital management forced to cancel surgeries and move patients to other hospitals. Press PLAY to hear the full story on The Rumour File Image: iStock Read the full article at: https://www.3aw.com.au/private-hospital-in-melbournes-west-enters-voluntary-administration/
In short: A private hospital in Melbourne’s western suburbs has entered voluntary administration. The $140 million Sunshine Private Hospital was opened in March 2023. What’s next? Surgeries have been cancelled, with patients to be transferred to other hospitals. The company behind Sunshine Private Hospital in Melbourne’s west has entered voluntary administration, forcing hospital management to cancel surgeries…
April saw a dramatic rise in corporate insolvencies across England and Wales. With one in every 175 businesses declared insolvent in the financial year ending April 30, 52.6 in every 10,000 registered businesses were recorded as being unable to continue. That figure is a far cry from the high of the 2008-9 recession, which recorded…
In short: Australians who bought tiny homes from an entrepreneur’s company say they have never been delivered. The company in question has been dissolved but the man at the centre has opened new businesses. What’s next? Buyers continue to pursue the remains of their tiny homes or refunds. Valerie Shannon and Garth Woodcock own a…