FTX CEO says Bahamas’ company liquidation process lacks transparency, alleges pushback from government and regulators – EyeWitness News

Liquidation

NASSAU, BAHAMAS FTX CEO John Ray III in a congressional hearing into the companys collapse yesterday slammed The Bahamas company liquidation process as lacking transparency, claiming that the pushback being received from the Bahamian government and regulators was extraordinary and irregular. Ray was addressing a House Financial Services Committee hearing into the collapse of the…

Online furniture retailer Brosa collapses into voluntary administration – SmartCompany

Liquidation

Members of Brosa’s executive team. From left to right: David Wei, co-founder and chief product officer; Rushabh Sanghavi, chief commercial officer, Anna Stockley Davidson, chief operating officer; and Ivan Lim, co-founder and CEO. Source: supplied. Online furniture retailer Brosa has fallen into voluntary administration, after its rapid pandemic-fuelled growth slowed when COVID-19 restrictions lifted across…

Bermuda: Provisional liquidation as a restructuring tool – Kennedys – Kennedys Law

Liquidation

This article first appeared in the Chambers and Partners Insolvency 2022 Guide. The guide provides the latest legal information on the various types of voluntary and involuntary restructurings, reorganisations, insolvencies and receiverships; out-of-court restructurings and consensual workouts; secured and unsecured creditor rights; international/cross-border issues and processes; and the duties and personal liability of directors and…

Huge blow as major Aussie builder collapses – news.com.au

Liquidation

Another major building company has announced it has gone into administration. NSW-based Elderton Homes informed customers on Monday afternoon the business had faced ongoing struggles, citing natural disasters and the nations economic conditions following the pandemic. Today Elderton Homes has made the difficult decision to appoint Administrators to manage its ongoing affairs, the designer home…

Sydney builder collapses amid labour shortage and rising cost of materials – 9News

Liquidation

A New South Wales builder has plunged into administration after catastrophic weather events, the pandemic and the rising costs of materials made business too costly to continue. Elderton Homes announced it had appointed Liam Bailey and Chris Palmer of O’Brien Palmer as administrators today, citing the impact of several different events. “This has been a…

Building company liquidations: 283 in 11 months this year – New Zealand Herald

Liquidation

A PWC spokesman says the sector was under more stress now because of cost escalations, delivery and labour issues. Photo / Fiona Goodall New Zealand had 283 building company liquidations in 11 months this year, Commerce and Consumer Affairs Minister David Clark said. Andrew Bayly, Nationals construction spokesman, said he was concerned about high failure…

Dixon Advisory clients may vote to liquidate the company to pursue the directors who they feel are not shouldering responsibility for their financial losses – The Australian Financial Review

Liquidation

The administrators signalled in their report that the total claims of 4606 URF investors were sitting at more than $367.9 million. Shine Lawyers, which headed the class action against the company, and four other investors make up the COI. The committee said it weighed the marginal financial benefit of accepting the proposed deed of company…

Resolution professional was trying to liquidate hospital, NCLAT orders probe – The Sunday Guardian

Liquidation

While setting aside the NCLT order, the NCLAT bench directed an inquiry against the Resolution Professional. NEW DELHI: Setting aside a liquidation order of the National Company Law Tribunal (NCLT), which was based on the information provided by the Resolution Professional (RP), the principal bench of National Company Law Appellate Tribunal (NCLAT) has asked an…