Construction giant St Hilliers has called in administrators, halting work on more than 20 projects across Australia. The group appointed Glenn Livingstone and Alan Walker of WLP Restructuring to take charge of its construction division yesterday after racking up $12 million in losses over the past two years. In a statement, the administrators said they…
DetailsBuilding giant St Hilliers has gone into voluntary administration in yet another blow to Australia’s beleaguered construction industry. Glenn Livingstone and Alan Walker of WLP Restructuring were yesterday appointed as administrators for seven entities within the group’s construction division St Hilliers Contracting. Property development and investment arm St Hilliers Property is not affected. Building giant…
DetailsMumbai: Vadraj Cement, which was stuck in liquidation for more than five years under the Bombay High Court, has been shifted to the National Company Law Tribunal (NCLT) for debt resolution, giving lenders a glimmer of hope to recover more than half of their dues.Budget 2024 Budget at a glance: Your 2-minute guide to become…
DetailsThe insolvency watchdog has amended regulations to allow the same insolvency professional to steer the resolution of a stressed firm as well as the bankruptcy proceedings of its personal guarantors.Budget 2024 Budget at a glance: Your 2-minute guide to become a Budget Pro The removal of the restriction on such a dual role by the…
DetailsThe company behind the project, known as Mariahilfer Strae 1018 Immobilien GmbH, was responsible for the development and construction of this ambitious undertaking by the Signa Group, as reported by ORF. Signa Prime holds a 50% stake in the company through Prime Capital Invest GmbH, while the remaining half is owned by Thai partners of…
DetailsUKs Small Robot Company (SRC) proceeds into liquidation. The technology of the company delivered value at a profit, with customers waiting, but could not secure the required investment to scale. According to SRC on LinkedIn they had a signed Term Sheet, but the investment did not land before the runway ended. Looking back SRC mentioned…
DetailsShare this article Halo Foods Tonik brand of protein shakes. Credit: Facebook Halo Food, the New Zealand-headquartered business that appointed administrators in August, has gone into liquidation. Given the companys listing in Australia, the registered operations in that country Halo Manufacturing, Halo Food Co. and Omni Brands are included in the liquidation process, which was…
DetailsPersonal loan funds can be used for a number of purposes, including debt consolidation and medical expenses. It can be a good solution if you need funds fast some lenders can deposit funds into your account as fast as the next business day. Plus, average rates are typically lower than other forms of debt, like…
DetailsIllustration: Binay Sinha The Insolvency and Bankruptcy Board of India (IBBI) has lifted the restriction to allow the same insolvency professional for the resolution process of a company as well as its personal guarantor for a better harmonisation and effective coordination of both processes. The changes made to IBBI – Bankruptcy Process for Personal Guarantors…
DetailsMumbai: The Mumbai bench of the insolvency tribunal has ordered the initiation of a corporate insolvency proceedings against Vadraj Cement, a group company of the insolvent ABG Shipyard, after the cement manufacturer defaulted on dues of over 87 crore to Punjab National Bank. Considering the facts and law, this bench is of the view that…
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