Category Archives: Liquidation

NCLT Ahmedabad Directs Promoters To Deposit Rs. 7.78 Crores With Corporate Debtor Based On Forensic Audit … – Live Law – Indian Legal News

The National Company Law Tribunal (NCLT), Ahmedabad Bench, comprising of Shri Shammi Khan (Judicial Member) and Shri Sameer Kakar (Technical Member), has directed the Promoters/Suspended Management of Sysco Industries Ltd. (Corporate Debtor) to deposit Rs. 7.78 Crores with the Corporate Debtor on the basis of a forensic audit report. The Resolution Plan for the Corporate…

Court places Geelong business in liquidation – Bay 93.9

A Geelong-based company owned by Geelong businessman David Collard has been wound up over allegations it owes more than $100,000 in debt. A court has ordered Sanitex Global Pty Ltd be placed in liquidation and denied a request by the companys solicitor to postpone the case, to allow Sanitex to repay money alegedly owed. Judicial…

Mossman Sugar Mill goes into voluntary administration despite $45 million in taxpayer funding – ABC News

Australia’s northernmost sugar mill has been placed into voluntary administration, despite a $45 million taxpayer-funded handout. Key points: Mossman Sugar Mill is one of the biggest employers in the small town The mill has entered into voluntary administration due to “financial distress” The grower-owned mill has received $45 million in taxpayer funds in recent years…

Dainton Beer Enter Voluntary Administration – The Crafty Pint

Dainton Beer have today become the latest brewing company to file for voluntary administration, citing the need to restructure debts in order to continue operating as a profitable business. In a media release, the owners said they had “taken this step to deal with financial losses the business has accrued from ill-timed expansion in the face…

Dainton Beer enters Voluntary Administration Brews News Australia – Brews News

Dainton Beer enters voluntary administration to facilitate a financial restructuring of the business Daicom Australia Pty Ltd trading as Dainton Beer (Dainton), has announced their decision to appoint an administrator to help facilitate a financial restructuring of the business.  Dainton operates a craft brewery and taphouse in Carrum Downs and a second taphouse in Croydon.…

Sara Lee enters voluntary administration – Foodprocessing

On 19 October, it was announced that Australia frozen baked foods and desserts brand Sara Lee has called in administrators, hiring FTI Consulting to sell or restructure the Australian side of the business. Sara Lees Australian business was established in Lisarow, NSW, in 1971 and has a long history of producing home-grown desserts, including frozen…

Maiden journal to enhance corporate insolvency landscape launched – Graphic Online

THE Ghana Association of Restructuring and Insolvency Advisors (GARIA) has launched a journal to enhance the future of Ghanas corporate insolvency and restructuring landscape. Dubbed: Corporate Insolvency and Restructuring Journal, it is designed to be the mouthpiece of Ghana’s relatively young, but fast evolving insolvency and restructuring industry. It seeks to shape a new culture…

Sara Lee defrosts into voluntary administration – Food & Drink Business

Sara Lee, bastion of frozen desserts loved by generations, has gone into voluntary administration. FTI Consulting has been appointed administrator. Originally owned by US based Hillshire Brands, McCain Foods acquired the business for $82 million in an all-cash deal in 2012. McCain announced it was looking for a buyer in 2020, saying it wanted to…

What happens to unfair dismissal claims if the employer is in … – HRD Australia

Perera was employed as an assistant quality controller. Her employment began on 24 October 2012. On the other hand, Rose was employed as a process worker and started her employment on 16 November 2011. On 18 July 2023, the workers received a letter from the employers head of human resources terminating their employment on five…

RBI approves IIHL's Rs 9650 crore bid for Reliance Capital By … – Investing.com Australia

Reuters. MUMBAI – The Reserve Bank of India (RBI) has given its nod to the resolution plan for the troubled financial services firm Reliance Capital, paving the way for the acquisition by Indian conglomerate IIHL. The central bank’s endorsement comes with a “No objection” to IIHL’s offer of Rs 9,650 crore, confirming the successful bid…