Foodora announced it would close operations in Australia on August 2, but 15 days later was placed in voluntary administration. Its believed that concerns over outstanding tax liabilities to both the NSW and federal governments led the German parent company, Delivery Hero, to pull its support for the business, hastening its demise. Delivery Hero, worth…
Prominent Albany construction business Tectonic Construction Group entered liquidation last week with immediate effect. At a company general meeting on August 22, it was agreed the business, which started in 1987, would be wound up. The decision came only months after the business finished the Albany Tourism and Information Hub earlier this year, after comfortably…
The High Court has granted a temporary injunction preventing an Irish registered aviation company linked to a controversial Russian businessman from going into voluntary liquidation. Mr Justice Michael Quinn made an interim injunction preventing the members of City Leasing DAC, which has registered address in Limerick from holding a meeting of its members, who were…
The National Company Law Tribunal, Hyderabad, has admitted an application for corporate insolvency resolution against Lanco Babandh Power Limited. NCLT Judicial Member Bikki Ravindra Babu admitted the petition by ICICI Bank for insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 and directed issue of notices to various parties, including the financial…
The High Court has granted a temporary injunction preventing an Irish registered aviation company linked to a controversial Russian businessman from going into voluntary liquidation. Mr Justice Michael Quinn made an interim injunction preventing the members of City Leasing DAC, which has registered address in Limerick from holding a meeting of its members, who were…
Paul Barber, North West chair of the R3, the trade body for insolvency and restructuring professionals Government plans to clamp down on directors who dissolve companies to avoid paying workers or pensions have been welcomed by insolvency practitioners in the North West. The proposals, which were announced on Sunday and represent the biggest changes to…
NEW DELHI, Aug 28: Bankruptcy-bound Ruchi Soyas promoters have sold 1.06 crore shares, worth 3.18 per cent stake, through open market transactions, the debt-ridden edible oil firm said in a regulatory filing.Ruchi Soyas promoter entity Disha Foundation Trust sold these shares on August 24.After sale of these shares, the promoters stake in the company has…
The disciplinary committee of the Insolvency and Bankruptcy Board of India (IBBI) has imposed a penalty of one lakh rupees on an Insolvency Professional, Dinkar T. Venkatasubramanian of Ersnt & Young LLP, Gurugram, as he authorized payment of his professional fee to Ernst & Young LLP. The Payment was released to EY LLP based on…
A real estate agency that stole $220,000 in client funds before collapsing has been fined just $7,500 after being convicted on 12 charges, but the prosecuting agency insists the matter is far from resolved. Austpride, which formerly traded as Real Estate Masters in the Perth suburb of Cannington, was convicted last week of 12 counts…
Popular Moseley pubs the Prince of Wales and the Dark Horse were run by the company, in addition to the British Oak, in Stirchley. The operation of these pubs has not been affected by the liquidation. A wine bar Cheval Blanc traded for just 16 months, a short-lived operation that caused financial problems for the…