The National Company Law Appellate Tribunal has directed the interim resolution professional of Sporta Technologies, which operates the fantasy sports platform Dream 11, not to take any steps towards insolvency and keep the company as a going concern. The appellate tribunal said it has already stayed the Corporate Insolvency Resolution Process (CIRP) of the company.Elevate…
Most of the restaurants have entered voluntary administration. Photo credit: Botswana Butchery Sydney / Facebook It’s getting tough for the hospitality industry, with Botswana Butchery restaurants across Australia having entered voluntary administration. The hospitality group operating the New Zealand-founded restaurants, Good Group Australia, will also be closing White + Wong’s Australian eateries. It comes as…
Since launching their first beers way back in 1989, Grand Ridge have seen off many challenges to have hit the local beer industry. Indeed, the regional Victorian brewery helmed by Eric Walters one of the original co-founders who took sole ownership of the business in 1997 is the state’s oldest independent operation by some distance.…
The head of the Australian Financial Security Authority has shared sobering details behind rising insolvency numbers, which could hit 15,000 by next year. Picture: NCA NewsWire/ Nicholas Eagar The countrys bankruptcy regulator has warned of the rising number of personal insolvencies affecting vulnerable Australians, as small business owners struggle to make ends meet due to…
The future of a company that owns high-end steakhouse Botswana Butchery and Asian restaurant chain White & Wong is uncertain, after an external administrator was appointed. New Zealand company Good Group announced its restaurants in Sydney, Melbourne and Canberra were in voluntary administration. BDO Australia, appointed as administrators, said Botswana Butchery restaurants were tradings as…
A 35-year-old Moreton Bay based mechanical services company has crumbled under financial strain, entered into liquidation while owing $2 million to employees, the ATO and suppliers. Lawnton-based Venmist Air Pty Ltd and Venmist Pty Ltd recently announced it would go into voluntary liquidation, following a history of projects with an array of large and medium-sized…
Baseball superstar Shohei Ohtanis debut for the Los Angeles Dodgers on Wednesday was spoiled by one of the highest-profile gambling scandals in recent history: the revelation of $4.5 million he allegedly paid to an illegal California bookie to cover his translators sports-betting debts. While investigating an illegal gambling ring out of Orange County, federal prosecutors…
MGM Resorts has denied claims that Bruno Mars owes the hospitality empire millions of dollars in gambling debt. The company’s response comes after NewsNation reported last week that Mars, 38, landed himself in gambling debt of over $50 million at MGM a large portion of which is being paid off from the money made from…
The news surrounding Shohei Ohtanis interpreter was bizarre enough until more details emerged about how some of the particulars had changed over the past 24 hours. News broke Wednesday afternoon when the Los Angeles Times published a shocking report that Ohtanis interpreter, Ippei Mizuhara, had perpetrated a massive theft of millions of dollars of the…
A 35-year-old Moreton Bay based mechanical services company has crumbled under financial strain, entered into liquidation while owing $2 million to employees, the ATO and suppliers. Lawnton-based Venmist Air Pty Ltd and Venmist Pty Ltd recently announced it would go into voluntary liquidation, following a history of projects with an array of large and medium-sized…