Organic Dairy Farmers of Australia has gone into voluntary administration following increased pressure from the coronavirus pandemic. The dairy co-operative was taken over by Scott Andersen and Ivan Glavas of Worrells Solvency and Forensic Accountants on May 15. Based in Geelong, Organic Dairy Farmers of Australia is the largest producer of certified organic milk in…
Many businesses are suffering serious financial difficulties as a result of COVID-19, particularly those in the retail, hospitality and tourism sectors. For many of these businesses the one asset that will undoubtedly retain value, despite the pandemic, will be their customer database. This valuable commodity could help attract potential purchasers. But this is a tricky…
Introduction Debt collection through bankruptcy filing before COVID-19 Pre-judgment attachment before COVID-19 Changes due to COVID-19 Comment Introduction Under Dutch law, the creditor of a claim has various measures at its disposal to collect a debt or ensure recourse, including: debt collection through a bankruptcy filing; and pre-judgment attachment. The execution of these measures requires…
An exclusive London casino claims that a Gulf sheikh reneged on a 2 million gambling debt by sending it 17 cheques that bounced during a spree last year. The dispute was revealed in the High Court in London when a judge lifted a freezing order on the assets of Sheikh Salah Hamdan Albluewi, the chairman…
A LAND development company headed by Toowoomba businessman Mark Peart that was to undertake a multimillion-dollar project north of Toowoomba has been tipped into liquidation. Homestead Highfields was placed in voluntary administration by Mr Peart on April 21. At a second meeting of creditors on Tuesday, creditors knocked back a proposal from company directors Mr…
Rugby Australia is expected to start laying off staff as early as this week after finally completing its 2019 financial report. The heartbreaking decision to cut jobs looms as the only way the cash-strapped code can survive in the future even after getting the thumbs up to continue operating from its accountants KPMG. Despite being…
Analysis by credit bureau illion and consultancy AlphaBeta, part of Accenture, shows those using their super spent almost $3000 more than normal in the fortnight after receiving the lump sum. Loading Their analysis, based on the bank transactions of 13,000 people who have withdrawn superannuation since the coronavirus outbreak, showed 40 per cent of them…
Dive Brief: Credit card startup Brex laid off 62 employees as the company restructures over the impact of the coronavirus pandemic, co-founders Pedro Franceschi and Henrique Dubugras announced in a blog postFriday. The layoffs make up about 17% of the Silicon Valley-based fintech’s total workforce, according to a Pitchbook estimate, cited by Business Insider. Brex,…
A leading special situations and restructuring lawyer, Matt has broad experience acting for a wide range of stakeholders, including debtors, banks and alternative capital providers. He has advised on transactions across the credit spectrum, including cross-border and domestic financial restructurings, lending transactions, and distressed and recovery situations. Matt joins one of the world’s leading restructuring…
Analysis by credit bureau illion and consultancy AlphaBeta, part of Accenture, shows those using their super spent almost $3000 more than normal in the fortnight after receiving the lump sum. Loading Their analysis, based on the bank transactions of 13,000 people who have withdrawn superannuation since the coronavirus outbreak, showed 40 per cent of them…