New Delhi: Naveen Jindal-promoted Jindal Power Ltd. has approached the National Company Law Appellate Tribunal (NCLAT) seeking permission to submit a fresh resolution plan for the bankrupt Tuticorin Coal Terminal Pvt. Ltd. This comes after the company’s earlier proposal was refused submission by the Mumbai bench of the National Company Law Tribunal (NCLT) in…
DetailsA second South Australian construction company has collapsed in the space of a month as the industry faces increasing supply chain issues and labour shortages. Builder Wake Concepts, which was involved in the construction of the One Festival Tower in Adelaide’s CBD, went into liquidation today, as confirmed by documents on the Australian Securities Investments…
DetailsReuters The Insolvency and Bankruptcy Code, 2016, is a law bringing together various earlier laws and regimes whereby a company in financial distress or difficulty could be admitted into Corporate Insolvency Resolution Process (CIRP) upon a case filed by an operational (typically unsecured trade creditor) or financial creditor (banks, NBFCs, lenders) or by itself. The…
DetailsThe number of insolvent businesses in England and Wales has risen by over a third (33.6%) to hit a four-year high, with company directors heavily impacted by a mixture of long-term economic issues, director fatigue and creditor pressure. This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics…
DetailsThe collapse of three businesses owned by a longstanding Adelaide construction company has left around 136 staff without jobs. Anthony Phillips from insolvency firm Heard Phillips Lieberenz, with heading up the liquidation of Wake Concepts, Wake Carpentry and Wake Construction Group Pty Ltd, which are all owned by the Wake Construction. In a statement Mr…
DetailsA popular Mexican restaurant company which has several stores across Australia has gone into liquidation. 4 Eyes Pty Ltd, which trades as Beach Burrito Company, went into liquidation on Monday according to documents filed with the Australian Securities and Investments Commission. It was resolved the company be wound up and that David Michael Stimpson &…
DetailsA struggling Mexican food chain is closing three of its New South Wales and ACT stores after going into liquidation. 4 Eyes Pty Ltd, formerly trading as Beach Burrito Company, went into liquidation on Monday, with the decision made to close Burrito Beach Co stores Newtown, Bondi, and Canberra. External liquidators David Stimpson and Hugh…
DetailsRALEIGH, N.C. (AP) Passing North Carolina’s budget will remain the last hurdle for the state to expand Medicaid to potentially cover 600,000 adults who don’t qualify or make enough for health insurance now that an effort to link it to authorizing more casinos is off the table. What You Need To Know The state’s two-year budget…
DetailsConsumer credit card debt is at an all-time high. Add to that trillions of dollars in mortgages, personal lines of credit, home equity lines of credit, and student and personal loans on top of that. People are tapped out and struggling to get your debt under control can feel overwhelming. If youre considering getting help…
DetailsSouth Australian construction company Wake Concepts has appointed a liquidator and terminated about 100 staff members. Wake Concepts specialised in the construction of wall and ceiling linings, with its major project at the time of liquidation being Adelaides Festival Tower in the CBD. Insolvency firm Heard Phillips Lieberenz was appointed on September 19 with Anthony…
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