NEW DELHI : Two power distribution companies of the Delhi government and Reliance Infrastructure Ltd have been asked to pay 1,864 crore of overdue electricity payments or face corporate insolvency proceedings, according to payment notices. Aravali Power Company Pvt Ltd (APCPL), a joint venture of state-owned NPTC, Haryana Power Generation Corp Ltd (HPGCL) and Indraprastha…
Nicola Bentley was the sole director of Stephensons (National Window Cleaning), which was incorporated in January 2017 and provided window cleaning services, predominantly for bookmakers. The company traded for two years but in January 2019 entered into creditors voluntary liquidation. A subsequent investigation by the Insolvency Service found that from February 2018 until the company…
Yue Chang Dai (56), from Dartford, Kent, was the sole director of Good View Da Ltd. The company was incorporated in April 2016 and traded as the Good View takeaway on Watling Street in Dartford. Good View Da, however, was unable to pay its debts and the company was placed into creditors voluntary liquidation in…
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An Italian subsidiary of the Melite retail group has entered into voluntary administration in a bid to restructure debts incurred after the COVID-19 lockdown in Italy hit hard its 26 retail fashion stores. Melite Italia is the sub-lessee of 21 out of 26 stores owned by Melite Properties Srl. Melite Properties is now seeking new…
Troubled businesses looking to access the new simplified debt restructuring process should be wary of a potential cash-flow squeeze, says an insolvency partner. Since 1 January, business with liabilities of less than $1 million and are up to date with their tax lodgements and employee entitlements have been able to access a simplified debt restructuring…
Nicola Bentley (39), from Oxted, Surrey, was the sole director of Stephensons (National Window Cleaning) Ltd and has now been disqualified from being a company director for 7 years. Her ban is effective from 31 December 2020. The company was incorporated in January 2017 and provided window cleaning services, predominantly for bookmakers. The window cleaners…
Huseyin Gozel (41), from Norwich, was appointed director of Mardin & Maras Limited in June 2014. The company had been incorporated two years earlier in May 2012 and traded as Caesars Pizza & Kebab on Dereham Road. In September 2019, however, Mardin & Maras entered liquidation as it could not pay its debts and Huseyin…
A faster than expected economic recovery from last year’s recession means the number of businesses going under will be less severe than predicted. Job ads surged in December to pre-pandemic levels and bank loan repayment holidays fell for a fifth straight month in November as businesses and home borrowers resumed making payments, new data on…
Stationery chain Paperchase is on the brink of administration after most of its stores were forced to close over the Christmas period. The firm has filed a notice to appoint administrators, a move that will give it breathing space from its creditors while it works out a rescue plan. The company has 127 stores and…