Nordic Shipholding Denmark-based Nordic Shipholding is to be wound down following the disposal of its entire fleet of product tankers earlier this year. Backed by its majority shareholder, Nordic Maritime, the company is calling for a general meeting to initiate a voluntary solvent liquidation. No distribution of funds to the shareholders is anticipated upon completion…
In the recent decision of Banerjee (Liquidator), in the matter of Eastside Formwork Pty Ltd (in liq) v Stojic[2022] FCA 1315, a liquidator succeeded in obtaining orders for a warrant to search for and seize books and records which had been concealed from the liquidator. The warrant was directed at the person deemed the guiding…
BENGALURU, Dec 2 (Reuters) – The highest bid India’s Reliance Capital (RLCP.NS), which is undergoing insolvency proceedings, received was 60% below its aggregate liquidation value, the Anil Ambani-led company’s administrator has let its lenders know, the Economic Times reported on Friday. The Reserve Bank of India superseded the board of Reliance Capital last year, saying…
NEW YORK, Dec. 1, 2022 /PRNewswire/ — Altimeter Growth Corp. 2 (NYSE: AGCB) (the “Company”) announced the following today: The Company anticipates that the Company cannot consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association Accordingly, the Company intends to dissolve and liquidate in…
Anil Ambani, Chairman, Anil Dhirubhai Ambani Group (File photo) Photo : BCCL The highest bid received for the Anil Ambani-owned Reliance Capital, which is undergoing insolvent proceedings, is 60% below aggregate the liquidation value. This means that bidders need to significantly increase the offers, else the company will need to through liquidation or piecemeal sale…
Global law firm Ashurst has appointed Lance Jiang as a partner in the restructuring, insolvency and special situations practice, based in its Hong Kong office, as part of the teams expansion plan to capture the rapidly growing opportunities and client demands in Asia. With two decades of experience in the region, Lance advises on complex…
In an early sign that merger and acquisition activity is about to ramp up in the startup sector in order for companies to survive, Sydney-headquartered courier delivery service Drive Yello has merged with the cafe payments platform Hey You. The merged entity is known as 4You Innovation, and hopes to hit up the market for…
Live One of Australias first meal delivery services has shut down, effective immediately, putting thousands of people out of work and telling customers they could no longer place orders with the service. Deliveroo, which launched in Sydney and Melbourne in 2015, revealed it had been placed into voluntary administration on Wednesday and could no longer…
Australian investors have been left unable to withdraw their funds after the spectacular collapse this week of cryptocurrency exchange FTX. Key points: High-profile cryptocurrency exchange FTX filed for bankruptcy and its chief executive stepped down Australian investorshave been unable to withdraw funds from the platform FTX’s local arm went into voluntary administration on Friday The…
The Committee of Creditors of Reliance Capital, in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday TopicsReliance Captial|finance sector|Companies IANS | Mumbai Last Updated at November 30, 2022 17:55 IST ‘).insertAfter(“.article-content__img”);$(“.article-content__img div”).find(‘div’).remove(); //]]> The Committee of Creditors (COC) of Reliance Capital (RCAP),…