NSW company, Flynn Transport, has gone into voluntary liquidation on Monday, with all assets to be sold in efforts to settle debts to creditors. According to Worrells Solvency & Forensic Accountants, which is handling the process, Flynn Transport is made up of three separate entities. The first is Flynn Transport Pty Ltd, which the company…
DetailsANOTHER business has bitten the dust in the Gladstone region. Rodgers Reidy have been appointed as liquidators of Yarwun Quarries. Liquidator James Imray said the company was wound up via an application filed in the Federal Court of Australia by the Deputy Commissioner of Taxation because of its failure to pay its Running Balance Account…
DetailsTNN Mumbai: The clock has started ticking for Jyoti Structures (JSL), the first of the 12 large defaulters against which banks have proceeded under the Insolvency and Bankruptcy Code following directions from the RBI. The National Company Law Tribunal (NCLT) on Tuesday admitted bankruptcy proceedings against the Mumbai-based company, a move which could result in…
DetailsAhmedabad/Mumbai: Essar Steel Ltd has approached Gujarat high court on Tuesday, challenging the insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT). A communique from the company said that the HC will further hear its petition on July 7. While no further official details are available, an executive close to the company…
DetailsTenon, which is preparing to wind up as a company after agreeing to sell its remaining North American and New Zealand businesses, says it expects to have a cash surplus of about US$4.7 million to return to shareholders after liquidation. The company said today it has finalised the net working capital adjustments required under the…
DetailsTennis legend Boris Becker went on a Twitter rant to insist that he is not bankrupt, despite bankruptcy proceedings being brought against him when he failed to pay millions of dollars of debt. The 49-year-old, three-time Wimbledon champion claims to be “surprised and disappointed” and also that he has the “means to repay this debt.”…
DetailsNSW Police have confirmed they are investigating allegations of fraud at Flynn Transport. The company went into voluntary liquidation yesterday with director Tony Flynn partly blaming the company’s demise on the actions of a former employee. Today it was confirmed that detectives from Richmond Local Area Command have been investigating the fraud allegation for some…
DetailsWritten by ENS Economic Bureau | Mumbai | Published:July 5, 2017 3:12 am According to the NCLT order on Tuesday, the board of directors of Jyoti will be suspended and consultancy firm BDO would manage the company. The National Company Law Tribunal (NCLT) has decided to initiate bankruptcy proceedings against debt-laden Jyoti Structures under the…
DetailsLavan has appointed six lawyers to new positions in the firm, with a litigation expert welcomed to the partnership. Cinzia Donald was made the newest partner of the regional firms litigation and dispute resolution team. Acting for public and private companies and high-net-worth individuals, she manages complex commercial litigation in superior jurisdictions, including the Supreme…
DetailsThey may be good for our health, but their finances are anything but healthy. New research reveals numbers of health care professionals struggling with debt have risen 10% over the last two years. Figures from debt help firm Credifix show almost two in five are nurses unable to make ends meet as their income simply…
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