This article is a crosspost from SME Law. The Liquidation Preference term is frequently used in fundraising rounds. It is a major economic term to be negotiated in the term sheet between the founders and the investors, and is arguably the preference of the preferred shares. Definition of liquidation A liquidation is the procedure according…
One of Australia’s largest private training colleges has collapsed, leaving 15,000 students in limbo and plunging 1000 staff into unemployment. The embattled Careers Australia was placed into voluntary administration late on Thursday – six weeks after it was stripped of federal funding due to dismal completion rates and aggressive recruitment practices. Classes have been suspended at the…
Thu, Oct 26, 2017 – 7:58 AM JAYA Holdings on Thursday said it is seeking voluntarily liquidation, with the remaining cash to be distributed to shareholders. The company has submitted a proposal on the proposed voluntary liquidation to the Singapore Exchange (SGX). It will be convening an extraordinary general meeting to approve the proposal, and…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees’ pensions when a company goes bankrupt. While there’s no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private member’s bills on the subject, put forward a New Democrat MP and…
OTTAWA Innovation Minister Navdeep Bains says the federal government will consider legislation to protect employees’ pensions when a company goes bankrupt. While there’s no plan for the government to introduce legislation at the moment, he says it will carefully examine two different private member’s bills on the subject, put forward a New Democrat MP and a Bloc Quebecois MP.…
NEW DELHI: Providing clarity, the government today said resolution plans under the Insolvency and Bankruptcy Code does not require approval of the shareholders. The clarification comes against the backdrop of concerns in certain quarters about the possibility of promoters of a company blocking insolvency resolution process under the existing provisions of the Code. Provisions of…
Private banker Nathalie Dauriac has told the high court she became scared of her former mentor and business partner John Caudwell, accusing the Phones4U billionaire of bullying her during an investigation into her expenses. Speaking in court on Wednesday, Dauriac said Caudwell sought to intimidate her by making claims about wrongdoing as a pretext to…
(CN) In a ruling Wednesday that makes it easier for EU businesses to relocate their registered offices to different member states, the European Court of Justice called out a law in Poland that mandates liquidation as part of such moves. Liquidation is a useful way, the Luxembourg-based court found, at ensuring that a number of…
A printing company in the Scottish Borders has gone into liquidation with the loss of 15 jobs. The family-owned Meigle Colour Printers was founded more than 40 years ago. The company claims that in recent years the business has faced challenges, including the shift from printed to digital media. It says the rising costs of…
THERES been a bit of good news around Boolaroo lately. In August, $2.2 million in federal funding was announced for a 700-metre extension of Munibung Road to link the suburb with Cardiff. Just a few days ago, the NSW Court of Appeal found in favour of Bunderra Holdings, the developer of a residential estate on…