Corporate insolvencies fell slightly in July compared to June. But July was also the third consecutive month in which year-on-year corporate insolvency levels have risen, according to insolvency and restructuring trade body R3 in Wales. R3 said that the month on-month fall in corporate insolvencies was a result of a drop in Compulsory Liquidations, Creditors’…
DetailsTwo years after its launch on Ch. 75, shopping channel has entered voluntary administration. Home-shopping channel OpenShop went into voluntary administration earlier this month just two years after launch, reportedly owing about $120,000 to its employees. The Sydney Morning Herald reports OpenShop operated by The Australian Shopping Network, launched in August 201 on Sevens Ch…
DetailsThe National Company Law Tribunal (NCLT), was formulated under the Insolvency and Bankruptcy Code, 2016 (IBC) to deal with insolvency and liquidation matters of corporate entities. Experience has shown that litigants tend to approach the NCLT for redressal of all grievances against companies undergoing insolvency resolution or liquidation. However, does the NCLT really have such…
DetailsAurobindo Pharma, Cadila Healthcare, UPL and two other companies are in the fray to acquire bankrupt Sterling Biotech Ltd. through the liquidation process. The other two companies in the race are ACG Associated Capsules and Gland Celsus Bio Chemicals. Last month, the liquidator had invited bids for the liquidation process of Sterling Biotech to sell…
DetailsAurobindo Pharma, and are among five companies in the race to acquire bankrupt Sterling Biotech through the liquidation process. The other two are integrated pharmaceutical manufacturing solutions company ACG Associated Capsules and Gland Celsus Bio Chemicals. The liquidator had invited bids on July 21 for the worlds sixth-largest manufacturer of pharmaceutical gelatin to sell the…
DetailsThey historically have actually delivered great product, said Jason Kururangi, a senior research analyst at Milford Asset Management. I do think they need to deliver more consistently. That might mean they need to restructure how the business thinks about development. Earnings improvement Net profit after tax of $377 million was in line with the companys…
DetailsThere are restaurants, and then there are restaurant institutions. Golden Century, late-night Cantonese restaurant to the stars, is the latter. And now, as NSW gears up for another month of lockdown, the Chinatown landmark has entered into voluntary administration. The 20-year lease on the Sussex Street location is up at the end of August and…
DetailsLloyd Parker replaced the takings from the Cathedral Retail Park store with bits of cut-up newspaper after using the stolen cash to attempt to win back what he had lost, Leeds Crown Court was told. The 30-year-old even spent his family’s Christmas savings money to claw back the deficit, but lost it all. Prosecutor Emily…
DetailsThe following op-ed is written byAshley Spalding, Research Director at the Kentucky Center for Economic Policy. As another college year begins amidst a resurging pandemic, new Census data shows those struggling the most with student debt are also among the hardest hit by COVID-19s economic impacts. Scholars and advocates continue to call for student debt…
DetailsMILWAUKEE (CBS 58) — The University of Wisconsin-Milwaukee (UWM) on Friday, Aug. 20, announced a $5.1 million student debt relief program aimed at helping students impacted by the COVID-19 pandemic. The university will forgive outstanding balances incurred by students during the 2020-21 school year. The $5.1 million program will wipe away the debt of more…
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