UPDATE, 8.30am: THE CFMEU is calling for a government inquiry into Roads and Maritime Services (RMS) tendering procedures after the collapse of the second sub-contractor on the Pacific Highway upgrade. Initial investigations by the CFMEU into the most recent collapse this week suggest a sub-contractor may have fraudulently provided statutory declarations claiming to have paid…
The family behind the failed Diploma Group and its provisional liquidators are seeking to have the company excluded from a potential wind-up order to attempt a rescue plan. A Federal Court judge is set to rule tomorrow on whether the builder-developer which collapsed last year and 19 other Diploma entities will be placed into liquidation.…
Turn to any pink newspaper, or for that matter even a general one, it is very likely that the front page will have something on the goods and services tax (GST) or the bankruptcy law. Not surprising, since these are the biggest and most impactful reforms of recent years. The common thread between the two…
NEW DELHI: The Supreme Court on Monday stayed the insolvency proceedings against real estate firm Jaypee infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream…
Image copyright Hope & Glory Festival Image caption Hope & Glory Festival Ltd owes creditors almost £890,000 The company behind a “chaotic” music festival that was pulled on the second day has gone into liquidation while owing almost £890,000 to creditors. Hope & Glory Festival in Liverpool was called off on 6 August amid reports…
September 4, 2017: As already informed to you, Corporate Insolvency Resolution Process (CIRP) has commenced in respect of Ennore Coke Limited (the Company) under the Insolvency and Bankruptcy Code, 2016 (IBC) by an order of the National Company Law Tribunal with effect from 20th June 2017. As per Section 17 of the IBC, upon appointment…
The Supreme Court stayed on Monday the insolvency proceedings against real estate firm Jaypee Infratech at National Company Law Tribunal (NCLT), Allahabad at the instance of its financier IDBI. It also issued notice to embattled firm and others on a plea filed by homebuyers who have not yet received possession of their dream flats booked…
Murdoch-controlled 21st Century Fox faces getting close to nothing in the payout of Network Ten creditors if it does not come to a new content supply agreement with the free-to-air broadcaster’s likely new owner CBS. Ten administrators KordaMentha assessed the debt claim for the US studio, of which Lachlan Murdoch is executive chairman, to be…
Homebuyers in Jaypee Infratech projects are required to fill up forms to register their claims for the corporate insolvency resolution process against the company by 31 August. Photo: Ramesh Pathania/Mint New Delhi: The Supreme Court on Monday stayed an August order passed by the Allahabad bench of the National Company Law Tribunal (NCLT), which initiated…
Queensland-based Soma Information Technology, which traded as Soma IT, has entered liquidation owing over $1 million to creditors. The company was registered with the Australian Securities and Investments Commission (ASIC) in May 2014, and offered IT business support. In July, a resolution to wind up the company was passed followed by the appointment of David…