Related Practices & Jurisdictions Advertisement Tuesday, July 11, 2023 The three year review of CIGA (the Corporate Insolvency and Governance Act) published by the Insolvency Service suggests that we might see changes to the corporate moratorium process will these address concerns about the process and encourage more insolvency practitioners to recommend its use? The moratorium…
The National Company Law Tribunal (NCLT) on Tuesday dismissed a plea to initiate insolvency proceedings against Religare Enterprises Ltd observing that it was a financial service provider and does not come under the ambit of the Insolvency & Bankruptcy Code (IBC).A principal bench headed by NCLT President Justice Ramalingam Sudhakar and Atul Chaturvedi held that…
Unlike government bonds that typically rise while stock prices fathom bear market lows, higher-risk corporate bonds tend to fall with risk appetite and equity prices. That trend has held over the past 15 months as most corporate securities have lost value. As US junk bond prices have tumbled, their yields have risen to around 8.75%…
The National Company Law Tribunal (NCLT) on Tuesday dismissed a plea to initiate insolvency proceedings against Religare Enterprises Ltd observing that it was a financial service provider and does not come under the ambit of the Insolvency & Bankruptcy Code (IBC). A principal bench headed by NCLT President Justice Ramalingam Sudhakar and Atul Chaturvedi held…
Two top restaurants in Melbourne have gone into administration after struggling to make ends meet amid the cost of living crisis and crippling lockdowns. Calia Australia, which serves modern Asian-inspired cuisine, called in insolvency experts on June 28. The business was opened in 2016 and was popular with well-heeled Melburnians who adored its Michelin-starred inspired…
NSW Fair Trading Antony Resnick and Suelen McCallum of DVT Group were appointed voluntary administrators (Administrators) of Toplace Pty Ltd (Toplace) on 7 July 2023. For the duration of the administration, the Administrators have exclusive authority to deal with the property, assets and liabilities of Toplace. NSW Fair Trading understands this event will create uncertainty…
DSK Legal advised and assisted Manoj Kumar Agarwal, Resolution Professional of DSKDL with respect to the corporate insolvency resolution process. The Firm advised the resolution professional right from the commencement of CIRP till the final approval of the resolution plan. Given that the CIRP has been ongoing for nearly 4 years, there have been changes…
The Pialligo Estate property on the day the failed businesss financier took possession. Photo: Ian Bushnell. Another Pialligo Estate company has been placed in liquidation, triggering a report to the corporate regulator that director John Russell has been involved in two failed businesses. Liquidator Frank Lo Pilato from RSM Australia notified the winding up of…
NSW Fair Trading Antony Resnick and Suelen McCallum of DVT Group were appointed voluntary administrators (Administrators) of Toplace Pty Ltd (Toplace) on 7 July 2023. For the duration of the administration, the Administrators have exclusive authority to deal with the property, assets and liabilities of Toplace. NSW Fair Trading understands this event will create uncertainty…
The company owned by Sydney developer Jean Nassif has gone into administration, weeks after a warrant was issued for his arrest over alleged fraud offences. Key points: Police are seeking to speak with Jean Nassif regarding an alleged fraud His company, Toplace, is one of the largest developers in Sydney Defects have been identified at…