Chinese property developer, Shimao Group is facing a legal challenge as China Construction Bank (Asia) filed a liquidation petition against it in Hong Kong over a financial obligation amounting to HK$1,579.5 million, equivalent to $201.75 million. This move marks a departure from the norm, as it is unusual for a state-owned bank to initiate legal…
Black Hops Brewing is the latest in a series of breweries to enter voluntary administration, advising that the Black Hops Board had no alternative but to place the business into voluntary administration due to its current circumstances. Deloitte Turnaround & Restructuring partners David Mansfield and Tim Heenan have been appointed voluntary administrators of the operations…
James Anderson, Turnaround & Restructuring Partner at Deloitte Ireland. 214 corporate insolvencies have been recorded in Ireland in Q1 2024, an increase of 47% compared with Q1 2023, when 146 insolvencies were recorded. The increase, according to the latest Insolvency & Restructuring Statistics compiled and published by Deloitte Ireland, has been primarily driven by Creditors…
One of Victorias longest-running and most respected multi-arts festivals, the biennial Castlemaine State Festival, has entered into voluntary administration. The news was announced in an email from the Festival Board, sent just before 5pm last Thursday 28 March, at a time when many people were already switching off their computers and leaving work in preparation…
The Amaravti bench of National Company Law Tribunal (NCLT) admitted insolvency petition filed against BGR Energy Systems Ltd. The petition was filed by the companys operational creditor RDC Concrete India Private Ltd. In a stock exchange announcement, the BGR said RDC Concrete India Private Ltd claimed a default of around 7.20 crore and the NCLT…
By Cameron Carpenter For Daily Mail Australia Published: 14:31 AEDT, 4 April 2024 | Updated: 14:54 AEDT, 4 April 2024 High-end steakhouse Botswana Butchery has entered voluntary administration In Australia. The restaurant chain found success in New Zealand first before expanding… Read the full article at: https://www.dailymail.co.uk/news/article-13270417/Botswana-Butchery-enters-voluntary-administration.html
LONDON As Matches grinds its way through a bankruptcy process under administrators Teneo, brands and suppliers have been tapping lawyers to help them recoup outstanding payments and warehouse stock although they may come away disappointed. Were trying to find a constructive, commercial solution, but its hard to get a dialogue going because the people we…
The National Company Law Appellate Tribunal has directed the interim resolution professional of Sporta Technologies, which operates the fantasy sports platform Dream 11, not to take any steps towards insolvency and keep the company as a going concern. The appellate tribunal said it has already stayed the Corporate Insolvency Resolution Process (CIRP) of the company.Elevate…
Most of the restaurants have entered voluntary administration. Photo credit: Botswana Butchery Sydney / Facebook It’s getting tough for the hospitality industry, with Botswana Butchery restaurants across Australia having entered voluntary administration. The hospitality group operating the New Zealand-founded restaurants, Good Group Australia, will also be closing White + Wong’s Australian eateries. It comes as…
Since launching their first beers way back in 1989, Grand Ridge have seen off many challenges to have hit the local beer industry. Indeed, the regional Victorian brewery helmed by Eric Walters one of the original co-founders who took sole ownership of the business in 1997 is the state’s oldest independent operation by some distance.…