Bon-Ton Stores, parent company of Herbergers, announced Tuesday that a winning bid of $775.5 million was made by liquidators Great American Group and Tiger Capital Group and a group of Bon-Tons debt holders. While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going…
DetailsDisgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
DetailsTWO DROITWICH companies have gone into liquidation leaving 34 staff members redundant, writes Anu Shukla. Flood Angel and UK Flood Barriers operated together as a company under the umbrella business Global Flood Defence Holdings. Many of the employees, some who had worked for the company over the last seven years, said they expected their wages…
DetailsDisgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
DetailsEssar Steel owes around Rs 49,000 crore to banks, is the biggest asset on the block right now. New Delhi: ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday…
DetailsBy Joanna Crawley For Mailonline Published: 19:52 AEST, 20 April 2018 | Updated: 20:14 AEST, 20 April 2018 e-mail 125 View comments She’s worked hard on an incredible health overhaul this year. And Kerry Katona showed off the results of her two stone weight loss during a sunny day at the park in Tonbridge Wells on…
DetailsControversial property developer Salim Mehajer has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. The former deputy mayor of the now-defunct Auburn Council is expected to ask Justice Michael Lee to annul the bankruptcy declaration at an urgent hearing…
DetailsThe report presented by the Insolvency Law Committee has brought some hope to the homebuyers. Under the Insolvency and Bankruptcy (I&B) Code, the one affected the most are the genuine homebuyers of those real estate companies against whom Corporate Insolvency Resolution Process (CIRP) has been initiated. These homebuyers have given their earnings, taken the loan…
DetailsMUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code. These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used…
DetailsDisgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
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