Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and financial services committee released on Wednesday. “Australia’s corporate insolvency system is overly complex, difficult to access, and creates unnecessary cost…
Calia’s Melbourne CBD location. Source: Facebook Upmarket Melbourne CBD eatery Calia has collapsed into voluntary administration, owing an estimated $2 million to Australian diner loyalty platform Liven and raising questions for diners with unredeemed restaurant credits. Documents listed by the Australian Securities and Investments Commission (ASIC) show Calia Australia, which operates the flagship restaurant and…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…