Limited liability of shareholders is an important feature of modern companies. Article 3.1 of the Company Law provides that the liability of a shareholder shall be limited to the amount of their capital contribution/the number of their subscribed shares. However, under special circumstances, such as when a shareholder neglects to fulfil liquidation obligations, resulting in…
Supplied Business partners Josh Emett and Fleur Caulton pictured outside Queenstown’s Rata restaurant. (File photo) The Madam Woo restaurant chain, founded by celebrity chef Josh Emett and restaurateur Fleur Caulton, has been put into voluntary administration as part of hospitality group Go To Collection. Malcolm Hollis and John Fisk of PwC were appointed administrators by…
The company was listed in June 2019 Covid saw the company’s fiscal position collapse Along with Covid, disputes with landlords also contributed to its demise Victory Offices Limited (ASX: VOL) has announced it has entered into voluntary administration. The announcement comes just three years after the company was listed on the ASX, back in June…
Tripe MMM have defaulted on their payments Upon completion, the development is expected to be valued at $155 million The builder, ADCO, remains committed to the project Merricks Capital has announced today that it has placed the Melbourne Place hotel development project into voluntary administration following payment defaults by the developer, Triple MMM Holdings Pty…
If your company has fallen on hard times, whether it be due to the financial strain of Coronavirus or an unrelated situation, it is vital to take immediate action. The best first step is to review our insolvency indicators and then become familiar with the Insolvency Advisory Accountants insolvency checklist. Taking immediate action when insolvent is vital, as…
NCLT on Tuesday directed to list the pleas related to the Suraksha group’s bid to acquire debt-ridden realty firm Jaypee Infratech on October 26 for hearing TopicsJaypee Infratech bid|NCLT The National Company Law Tribunal (NCLT) on Tuesday directed to list the pleas related to the Suraksha group’s bid to acquire debt-ridden realty firm Jaypee Infratech…
Shares of consumer electronics company BPL were locked at the upper circuit limit for the 22nd straight trading session, up 5 per cent at Rs 108.75 on Tuesday, having rallied 203% in one month. TopicsBuzzing stocks|BPL|Market trends SI Reporter | Mumbai Last Updated at September 28, 2021 14:55 IST Shares of BPL, Gopala Polyplast, Continental…
PUNE Investors in the DS Kulkarni group of companies have demanded that the Enforcement Directorate (ED) investigate alleged payments made by DSK firms to various money lenders and brokers. A consortium comprising Ashdan Properties, Classic Promoters and Builders and Atul Builders will take over the debt-ridden group through the insolvency process. DS Kulkarni Developers Limited…
Member Article The easing of Covid-19 restrictions over the summer has failed to stop a sharp increase in the number of business insolvencies across England and Wales. According to the latest official figures, corporate insolvencies increased by 22.9% to 1,348 in August 2021 compared to Julys figure of 1,097. The year-on-year level of corporate insolvency…
New figures suggest business across the Midlands are struggling to get to grips with the impact of Covid-19 despite the easing of restrictions. Related Articles Latest data from the Midlands branch of insolvency and restructuring body R3 suggests many firms are under greater pressure to survive compared to this time last year. It says the…