Elgi Rubber Company LimitedELGIRUBCODeterioratingCriticalmateriality 95 out of 100
Initiation and filing of voluntary application for liquidation proceedings in respect of Rubber Resources…
Distressinsolvency
As filed
Elgi Rubber Company Limited has informed the Exchange about initiation and filing of voluntary application for liquidation/bankruptcy proceedings in respect of Rubber Resources B.V., The Netherlands,
Why it matters
CapitSignal interpretationOnce an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.