HOUSTON, Nov. 10, 2020 /PRNewswire/ –Luby’s, Inc. (NYSE: LUB) (the “Company”) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading proxy voting advisory firm, has recommended that Luby’s stockholders vote in favor of the Company’s Plan of Liquidation and Dissolution (the “Plan”). In recommending “FOR” the Plan, ISS noted that1: “The board appears to…
Member Article Months after the initial lockdown, it has become clear that the pandemic will create long-term or even lasting changes that will mean some businesses are no longer viable. As the Government gradually withdraws the support packages available, it is vital that managers assess their business in light of the new normal. The sooner…
IMAGES VIA ALICE MCCALL WORDS BY JULIETTE CAPOMOLLA Another one bites the dust. In another blow to Australias fashion industry, popular Australian designer Alice McCall announced yesterday that her brand will be entering into voluntary administration. In a statement, McCall attributed the downfall of the brand to the coronavirus pandemic and unsustainable brick-and-mortar operations. Designers…
Hundreds of thousands of dollars in compensation will be paid to a group of grey nomads and retirees after a Queensland motorhome dealer was found responsible for causing them financial loss. Key points: The Queensland Office of Fair Trading is awarding nine motorhome owners a total of $700,000 Beth Stephensen says it was “like Christmas”…
Luxury fashion brand alice McCALL has now gone into voluntary administration, sadly following a long line of retailers that have had to shut up shop due to COVID-19. Fashion designer behind the brand Alice McCall herself gave a statement to 9News discussing her need to edit down the business and rework into a more sustainable…
10 November 2020: Proposed legislation which places certain conditions on connected person sales in administration is very much under the spotlight. Will the proposed regulations solve the perception problem? A framework in which companies can be rescued or dissolved but endeavours to preserve jobs and look out for creditors is intrinsic to doing business. COVID…
A company that once billed itself as Brisbane’s premier home extension and renovation business may have been trading insolvent for up to a year before going into liquidation with creditors unlikely to see any of their money, according to liquidators. Total Lifestyle Builders Pty Ltd which went into liquidation in June this year owing more…
Latest News McGrathNicol Restructuring has been appointed as voluntary administrator of Tiger Resources to assess the future of the company and its assets. McGrathNicol Restructurings Rob Kirman and Rob Brauer will work alongside Tigers management and directors to explore options of either selling or recapitalising the company. The voluntary administration does not extend to Tigers…
Sunday, November 8, 2020 In the case of Anuj Jain Interim Resolution Professional for Jaypee Infratech Ltd. v Axis Bank Limited Etc.[i] the Supreme Court of India (SC) has laid down detailed principles for the identification of a preferential transaction which could be voided under the Insolvency and Bankruptcy Code, 2016 (Code). The judgment is…
Matthew Davey. PHOTO: ODT FILES The company behind Ticket Rocket that is now in liquidation has debts of more than $8 million, according to the first receivers report into the business. BDO receiver and manager Diana Matchett reported Fortress Information Systems Limited which has three subsidiaries known as Dash Group, Dash Tickets and Dash Tickets…