Kolkata, October 24: A public announcement inviting claims against Nicco Corporation Ltd, whose liquidation has been ordered by the National Company Law Tribunal (NCLT), has been released. According to Vinod Kothari, the liquidator appointed for Nicco, this will help determine the amount payable by the company. Defaults on loans Nicco, a specialised cable-maker, defaulted on…
The owner of an electrical contractor that has ceased trading after more than three decades admits it is a sad day. Steve Marshalls Netherfield-based company SJ Marshall Electrical Limited has entered voluntary liquidation, with all 34 staff made redundant yesterday (Monday, October 23). The firm had worked with national retailers and pub companies, as well…
Billionaire Sears Holdings (SHLD.O) Chairman Eddie Lampert is wading into the blame game over Sears Canadas demise. In a lengthy blog post, Lampert, who owned a large stake of the firm through ESL Holdings, said company management sowed the seeds of the retailers slide into insolvency by undertaking an ill-fated strategy when former Executive Chairman…
Bumps in the road I know of two male executives who have been looking for roles. These are highly qualified and experienced men with excellent track records in large listed companies one at CEO level. Both have hit what you might call bumps in the road recently. One experienced a downturn which led to the…
Canberra cloud provider 4Data has gone bust for the second time in as many years after its director was ordered to pay $3.5 million to the Australian Taxation Office. The previous incarnation of Digital Digest Data Design (4Data) traded for 21 years before entering administration in May 2015, and was subsequently liquidated. The company pinned…
The bankruptcy code for individual debtors, expected to be notified soon, would hopefully synchronize well with IBC and provide for a way to deal with personal guarantees in a time-bound manner. Photo: iStock Banks in India have traditionally placed tremendous faith on promoters and personal guarantees provided by them, on par with if not higher…
A Derbyshire textile company has gone into liquidation. Future Textiles Ltd on Eldon Street, Clay Cross, was founded in 2008. Now, an official notice placed in the London Gazette states that Claire Elizabeth Dowson and Ashleigh William Fletcher, of Begbies Traynor, have been appointed joint liquidators of the firm. Liquidation is the process where a…
ROCKFORD, Ill., Oct.19, 2017 /PRNewswire/ — Harvard Illinois Bancorp, Inc. (the “Company”) announced today its unaudited statement of net assets in liquidation, as of September 30, 2017, and its unaudited statement of changes in net assets in liquidation for the nine months then ended. Unaudited Statements of Net Assets in Liquidation and Changes in Net…
Powerhouse Ventures is pitching itself as a turn-around story following a disastrous year. Chief executive Paul Viney says the Kiwi venture capital firm is tightening up its business model and looking to expand its investments into Australia. Powerhouse will start putting pressure on its investments to turn exciting intellectual property into products, says Chairman Russell…
An Expression of Interest from investors to revive Nagarjuna Oil Corporation (NOC) has been invited by the Insolvency Resolution Professional appointed by the National Company Law Tribunal (NCLT). Financial investors mutual funds, private equity and venture capital funds, domestic or foreign investment institutions and others may also apply. A Corporate Insolvency Resolution Process…