Workspace One Director Accused of Misappropriation Amidst Company Liquidation When Kathryn Arnold, director of Sydney-based Workspace One Pty Ltd, a construction company specialising in office space refurbishments, transferred $861,000 to her personal bank account, she set in motion a chain of events that left the company in liquidation and its creditors in a lurch. The…
UK Braces for Highest Corporate Insolvencies Since 2004: PwC Report According to predictions by PricewaterhouseCoopers (PwC), the United Kingdom is bracing for a sharp increase in business insolvencies, with nearly 30,000 entities anticipated to fail in the next 12 months. This projection marks an alarming 15% surge, taking corporate insolvencies to their highest level since…
Creditors of a collapsed company in the building sector learned just before Christmas that they will not recover a single cent of their lost money. Victorian business MMD Concrete Construction Pty Ltd went into voluntary liquidation in September owing more than $1.2 million to creditors. Of that, $233,000 is owed to the Australian Taxation Office…
Citing a challenging business environment, online retailer Zulily is closing its doors. The company announced its liquidation process on its website Wednesday (Dec. 27), informing customers that it hopes to fill all ending orders in the weeks ahead. This decision was not easy nor was it entered into lightly, the company announcement said. However, given the challenging business environment…
The U.S. ecommerce company Zulily says it is closing down, surprising customers, after efforts to salvage the business failed SEATTLE — The U.S. online retailer Zulily is closing down, surprising customers and laying off hundreds of workers after efforts to salvage the business failed. The Seattle-based company said in a notice on its website that…
SEATTLE (AP) The U.S. online retailer Zulily is closing down, surprising customers and laying off hundreds of workers after efforts to salvage the business failed. The Seattle-based company said in a notice on its website that it had tried to fill all pending orders and expected to manage that within the coming two weeks. Zulily…
Cabinet to consider possibility of liquidation of State Lottery Company AKIPRESS.COM – Chairman of the Cabinet of Ministers Akylbek Japarov heard the annual work reports of the state enterprises and joint-stock companies. The Cabinet Chairman slammed work of the State Lottery Company, which has been lossmaking for 2 years. “Why the state should support the…
Axis Bank has approached the National Company Law Tribunal (NCLT) with a plea seeking insolvency proceeding against Zee Learn, said the education services provider in a regulatory filing to the stock exchanges on December 26. “This is to inform you that a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 has been…
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…
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…