The National Company Law Tribunal (NCLT) has dismissed IDBI Trusteeship Services’ petition seeking Corporate Insolvency Resolution Process (CIRP) proceedings against Essel Group entity Cyquator Media Services for default in payment.In its petition against Cyquator Media, IDBI Trusteeship had invoked the provisions of Section 7 Insolvency and Bankruptcy Code read with Rule 4 of Insolvency &…
An online alcohol retailer that specialises in Australian craft gin has gone into administration just a month after announcing it was up for sale. According to the Australian Securities and Investments Commission (ASIC), Gintonica went into insolvency on June 21, with David Ross from I & R Advisory appointed as administrator. Gintonicas founder David Box…
The National Company Law Tribunal (NCLT) has dismissed IDBI Trusteeship Services’ petition seeking Corporate Insolvency Resolution Process (CIRP) proceedings against Essel Group entity Cyquator Media Services for default in payment. In its petition against Cyquator Media, IDBI Trusteeship had invoked the provisions of Section 7 Insolvency and Bankruptcy Code read with Rule 4 of Insolvency…
MUMBAI : The National Company Law Tribunal dismissed an application by IDBI Trusteeship to initiate corporate insolvency resolution of Cyquator Media Services, a promoter group company of Zee Entertainment Enterprises Ltd. Financial creditor IDBI Trusteeship filed a petition under Insolvency and Bankruptcy Code (IBC) for default in repayment of 600 crore. We are of the…
A popular Australian gym chain has collapsed after it was embroiled in a legal battle with three of its franchisees. Ultimate Franchising Group Pty Ltd, UFC Gym Prospect Pty Ltd and Ultimate Franchising Group Properties Pty Ltd the three parent companies behind UFC Gym Australia went into voluntary administration on May 23. The three companies…
The parent companies behind a major Australian gym chain have quietly collapsed into administration after becoming embroiled in a messy $5 million court case with several disgruntled franchisee owners. UFC Gym Australia, which at its peak had more than 10 fitness centres in Sydney, Melbourne, Perth and the Gold Coast, is a mixed martial arts…
In India, there was a need to enact a single statute encompassing provisions to resolve insolvency for companies, limited liability partnerships, partnership firms and individuals. In light of the same, the Insolvency & Bankruptcy Code, 2016 (Code) was passed and notified in the Gazette of India on 28 May 2016 thereby consolidating all of the…
In short: More small businesses are choosing to close because of falling profits during the cost-of-living crisis but their numbers aren’t included in insolvency figures What’s next? The federal government and Reserve Bank have been asked to consider small operators as they continue to fight inflation Jessica Bailey has a strong record of conquering challenges in the…
There have been nine company liquidation notices in the Casey Local Government Area today and 77 for the past year. News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state. Here’s the list for Casey, listed by postcode in date order: 3156 Vinnie’S Preston Pty…
There has been one company liquidation notice in the Tweed Local Government Area today and 14 for the past year. News Corp analysis of ASIC Insolvency Notices and ABN Lookup data shows the locations of company liquidations across the state. Here’s the list for Tweed, listed by postcode in date order: 2483 Byron Bay Formwork…