Its official the Lifestyle Store has been placed into voluntary administration with debts believed to be in the millions. At 15.05pm yesterday, the liquidator of Theatre At Home, and ROQO Pty Ltd moved to place the Lifestyle Store into liquidation. A few minutes later the CEO of both the Lifestyle store and Theatre At Home…
DetailsIn a bid to expedite the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC), the government is mulling to reduce compliance burden on insolvency professionals (IPs). In a discussion paper floated on Monday, the Insolvency and Bankruptcy Board of India (IBBI) has proposed to streamline and reduce the number of CIRP…
DetailsA number of Northlanders, particularly elderly people, are now out of money after paying Flaming Fires for a fireplace and not having anything installed, liquidators say. Photo / Alex Cairns Fireplace customers are feeling left out in the cold and out of pocket after Whangarei retailer and installer Flaming Fires went into liquidation. One customer…
DetailsThere are effective ways to reduce your debt without hurting your credit score in the process. Getty Images/iStockphoto With inflation and interest rates high, many consumers are struggling financially. The burden can be particularly heavy for those carrying credit card debt. The average interest rate on credit cards now sits at over 21%, up from…
DetailsA growing number of councils in England have declared bankruptcy since 2018, most recently Nottingham, Woking, Thurrock and Birmingham. With the situation in the devolved nations of the UK looking similarly precarious, the question of quite what has happened to local government finances in the UK is an urgent one. A council cannot, technically, go…
DetailsThe proposed amendments are expected to make the process less stringent for the insolvency professionals and resolve the complexities 3 min read Last Updated : Jun 11 2024 | 6:01 PM IST The Insolvency and Bankruptcy Board of India (IBBI) has proposed to simplify the forms submitted for the corporate insolvency resolution process (CIRP) by…
Details3 min read Last Updated : Jun 11 2024 | 5:30 PM IST Following the suggestion of the Financial Stability and Development Council (FSDC) to ease the compliance burden, the Insolvency and Bankruptcy Board of India (IBBI) has proposed simplifying the forms submitted for the corporate insolvency resolution process (CIRP) by resolution professionals in a…
DetailsIn a move that could help streamline and quicken insolvency proceedings against firms, the government is looking to reduce the compliance burden on insolvency professionals. In this regard, the Insolvency and Bankruptcy Board of India (IBBI) has issued a discussion paper on reducing compliance by review of forms for corporate insolvency resolution process (CIRP) that…
DetailsInsolvency appellate tribunal NCLAT has issued a notice to ICICI Bank over the plea of Jaiprakash Associates Ltd and said the private sector lender may consider the one-time settlement proposal submitted by the debt-ridden company by June 24, the next date of hearing.During the proceedings of NCLAT, JAL through its counsel submitted that it is…
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