Brisbane fintech Digital Surge is the latest cryptocurrency exchange to be placed in voluntary administration in the wake of the collapse of US exchange. Scott Langdon, John Mouawad and David Johnstone from KordaMentha Restructuring were appointed voluntary administrators on Thursday, after the fintechs directors made the decision to put the business in VA on Wednesday.…
Tens of thousands of Australianinvestors with superannuation and savings tied up in cryptocurrency remain in suspense, as a major Australian broker collapses into voluntary administration. Key points: Brisbane-based cryptocurrency broker Digital Surge has gone into voluntary administration The company is proposing a “rescue plan” but this would need to be approved by its 30,000 creditors…
Stewart Day, left, and Steve Dale, right, have been declared bankrupt (Image: Newsquest) Two former Bury FC chairmen who were involved in the running of the club during its darkest dayshavebeen declared bankrupt within months of each other. In July, a bankruptcy order was made for businessman Steve Dale who bought the club in December…
An embattled energy company in WA’s Kimberley region has gone into liquidation, ending a 10-year decline and leaving significant questions over who will pay their rehabilitation and decommissioning costs. Key points: Liquidators have only been able to recover $17,000 in bank accounts and have not been able to contact the company DMIRS says one of…
Hundreds of jobs have been saved with the purchase of a shoe and podiatry retailer out of administration. Gareth Harris and Lee Lockwood of RSM UK Restructuring Advisory LLP were appointed joint administrators of Shuropody Retail Limited this week and have now secured the purchase of the business and assets of Shuropody in a pre-pack…
Steve, 18, first felt the thrill of gambling at the age of 15. His “first high” came when he won a couple hundred dollars while playing dice, he told ABC News. To speak candidly, he’s asked to be in shadow, to use a different name and alter his voice. Between 60% to 80% of high…
BUSINESS RESTRUCTURING REVIEWVOL. 21, NO. 6 NOVEMBER-DECEMBER 20221IN THIS ISSUE1 Fifth Circuit Rules on the Solvent-Debtor Exception and Make-Whole Premiums2 Lawyer Spotlight: Gary L. Kaplan5 U.S. Bankruptcy Court Can Enforce Foreign Restructuring Plan Providing for Cancellation of U.S. Law-Governed Debt9 Fifth Circuit Embraces Flexible Approach to Countryman Test of Executoriness in Bankruptcies Involving Multiparty Contracts13…
Dive Brief: International Flavors & Fragrances plans to cut jobs as part of a comprehensive restructuring to optimize costs and streamline its business to better serve customers, the company announced at its Investor Day presentation on Wednesday. IFF is targeting annual savings of $100 million from the reduction. By the end of 2023, the company…
B. Bhavani assured her father she would quit online card games – a promise she had made several times. A few hours later, the 29-year-old took her own life. B. Bhavani assured her father she would quit online card games – a promise she had made several times before as her family in southern India…
With inflation at record levels, making ends meet has become increasingly challenging for Americans. As of June 2022, consumer prices are up 9.1% year over year, which is the largest increase in four decades, according to the Bureau of Labor Statistics. Given this reality, its no surprise that debt among Americans is also surging. The…