Creditors of the collapsed Australian tech company Metigy have appointed Cathro & Partners as its liquidator, continuing their relationship with the boutique restructuring consultancy. In July, Metigy left its 75 staff and the technology scene “shell-shocked” when it collapsed owing $32 million to creditors (including around $2.5 million to employees). The sydney-based company, which offered…
If your company has fallen on hard times, whether it be due to the financial strain of Coronavirus or an unrelated situation, it is vital to take immediate action. The best first step is to review our insolvency indicators and then become familiar with the Insolvency Advisory Accountants insolvency checklist. Taking immediate action when insolvent is vital, as…
Failed developer Caydon, which was likely trading while insolvent for the past two years, owes financier OCP Asia more than $200 million and Mercedes-Benz $285,000 for a luxury G63 wagon among its other debts, liquidator Malcolm Howell said. Creditors will likely vote next week to put the company into liquidation, following the receivership triggered last…
Parts of prominent Asian-backed developer Caydon, a developer of hundreds of apartments across the melbourne suburbs of Alphington and Preston, have gone into liquidation, blaming prolonged Covid-19 lockdowns, interest rate hikes, lack of labour and skyrocketing building costs. Caydon is also developing a $1bn commercial precinct at the site of the old Nylex silos in…
He left a trail of custom install businesses with millions in debt, but that has not stopped brisbane based executive Regan Webb from living it up at the Hilton, on a luxury Island in the Pacific in recent days. Linked with Winning Appliances, Regan Webb has a chequered past having left a trail of debt…
Australian construction firm, Condev will go into liquidation after failing to secure a reported bid for $25 million from developers. The gold coast-based builder announced Tuesday a liquidator was being sought to take over its affairs. Last month, another local construction giant, Probuild was placed into administration citing similar issues with rising business costs. Condev…
NCLT on Tuesday directed to list the pleas related to the Suraksha group’s bid to acquire debt-ridden realty firm Jaypee Infratech on October 26 for hearing TopicsJaypee Infratech bid|NCLT The National Company Law Tribunal (NCLT) on Tuesday directed to list the pleas related to the Suraksha group’s bid to acquire debt-ridden realty firm Jaypee Infratech…
Shares of consumer electronics company BPL were locked at the upper circuit limit for the 22nd straight trading session, up 5 per cent at Rs 108.75 on Tuesday, having rallied 203% in one month. TopicsBuzzing stocks|BPL|Market trends SI Reporter | Mumbai Last Updated at September 28, 2021 14:55 IST Shares of BPL, Gopala Polyplast, Continental…
PUNE Investors in the DS Kulkarni group of companies have demanded that the Enforcement Directorate (ED) investigate alleged payments made by DSK firms to various money lenders and brokers. A consortium comprising Ashdan Properties, Classic Promoters and Builders and Atul Builders will take over the debt-ridden group through the insolvency process. DS Kulkarni Developers Limited…
Member Article The easing of Covid-19 restrictions over the summer has failed to stop a sharp increase in the number of business insolvencies across England and Wales. According to the latest official figures, corporate insolvencies increased by 22.9% to 1,348 in August 2021 compared to Julys figure of 1,097. The year-on-year level of corporate insolvency…