By Wayne Robinson | 4 September 2020 Wide format print business Craftech is in voluntary administration, pulling the pin on a scheduled auction of its equipment which was to have taken place through Liquid Asset Management. Auction pulled: Craftech now in voluntary administration Craftech was bought three years ago by current owner Peter Friend-Ngui formerly…
DetailsThroughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 41 bankruptcies in week 35. This is 12 up on the previous week. In addition, 8 sole proprietorships were declared…
DetailsElectric vehicle start-up e.GO Mobile has taken advice from White & Case on a successful restructurin… Electric vehicle start-up e.GO Mobile has taken advice from White & Case on a successful restructuring of its business. With Aprils onset, Aachen, Germany-headquartered e.GO filed an application for personal insolvency procedures under self-administration. e.GO then filed for insolvency…
DetailsSaving and paying down debt have become national pastimes as Australia enters its first recession in nearly three decades. Amid revelations of a record economic contraction, household spending fell by $35.2 billion in the three months to June 30 while household savings rose by a whopping $42 billion. Fitzpatricks Private Wealth certified financial planner Randall…
DetailsThe observations from a two-member NCLAT bench came as it upheld an order of the National Company Law Tribunal (NCLT) The National Company Law Appellate Tribunal (NCLAT) has said insolvency proceedings cannot be triggered on the basis of debt that has been converted into capital such as equity of a company. The appellate tribunal also…
DetailsThe case KVV Liepjas metalurgs owner Yevgenij Kazmin had against the state of Latvia has been put on hold, according to information from the State Chancellery. The case itself was commenced following Kazmins request. It is related to the sale of assets of the insolvent Liepjas metalurgs to Ukrainian company KVV Group in 2014. The…
DetailsTennis legend Boris Becker is accused of hiding an international property portfolio from his bankruptcy proceedings, as well as millions of dollars and shares in an artificial intelligence company. The 52-year-old Grand Slam champion was declared bankrupt in June 2017 and last year faced civil claims that he had failed to fully declare his estate…
DetailsBy RNZ New Zealand Steel is to restructure its business with the likely loss of up to 200 jobs, but maintain steelmaking at its Glenbrook mill. The Australian owner of the mill, Bluescope, signalled in May it was reviewing the future of the loss-making business because it was not paying its way. Chief executive Gretta…
DetailsThe company said its board approved to explore various structures for streamlining the businesses currently being carried out by different group entities TopicsBuzzing stocks|Gateway Distriparks|Markets SI Reporter | Mumbai Last Updated at September 3, 2020 13:02 IST Shares of Gateway Distriparks (GDL) moved higher by 15 per cent to Rs 108.20 on the BSE on…
DetailsThe National Company Law Appellate Tribunal (NCLAT) on Wednesday said that insolvency proceedings cannot be triggered on the basis of debt which has been converted into capital such as equity of a company. The appellate tribunal also said that any investment cannot be ‘financial debt’ and the provisions of Section 7 of the Insolvency &…
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