More than 50 creditors are owed some $1.2 million, and a job at an elite school was left unfinished after a gold coast construction company was liquidated. W3D Constructions Pty Ltd, owned by Ross Wolbers, the son-in-law of prominent Gold Coast developer Norm Rix, went into liquidation on December 7. The company was building multimillion-dollar…
With a debt management plan, a credit counselling agency creates a plan to get you out of debt. However, while these plans can be a lifesaver if you’re struggling, they’re not for all those who do. Image Credit: Shutterstock Dubai: If you’re in debt and struggling to find your way out, you’ve probably spent a…
Axis Bank (Photo: Bloomberg) Private lender Axis Bank has filed a plea before the National Company Law Tribunal (NCLT) seeking insolvency proceedings against Zee Learn, the education services provider said on Wednesday. Zee Learn disclosed in an exchange circular that it had received a notice from the Mumbai bench of NCLT. “A petition under Section…
Education company Zee Learn Ltd on Tuesday (December 26) said private lender Axis Bank Ltd has filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition aims to initiate the corporate insolvency resolution process (CIRP) for Zee Learn before the National Company Law Tribunal (NCLT) in Mumbai. The company is…
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As soon as Josu Henriquez turned 18, he applied for a credit card. He wanted to start building his credit so he could one day finance the purchase of a car or home. “I was told it was the only way I could start my credit in this country,” he says, having relocated to the…
The anticipated completion of Yandex’s restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed Russia’s Google, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV. The restructuring, initially set for December, is…
Normal text sizeLarger text sizeVery large text size Inflation, high interest rates, dwindling consumer confidence, a tight labour market and an aggressive tax office will push more businesses into bankruptcy by the second half of next year. That is the view of insolvency and company restructuring specialists, who are bracing for a correction to the…