Gold Coast-based craft beermaker Black Hops Brewing looks set to be placed into liquidation and its assets sold off after failing to secure a rescue proposal from the brewer’s directors, as the administrators revealed that the company could have been insolvent as far back as December 2022. But the company, which collapsed on 28 March…
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year. While Disney said Tuesday that it foresees its…
In short: Debtors are calling for further HECS relief in next week’s budget in addition to the $3 billion wiped from student loans. Greens deputy leader Senator Mehreen Faruqi is calling for indexation to be scrapped altogether What’s next? The government will need to legislate its HECS changes after the budget but the Greens have suggested they…
In short: The director of a festival company has been accused of trading while insolvent and using income generated from events to pay her personal rent, which she denies. Many artists, musicians and other contractors of The Gathering of the Goddesses festivals in Victoria and Tasmania say they were not paid for their work and…
The Walt Disney Co. swung to a loss in its second quarter because of restructuring and impairment charges, but its adjusted profit topped expectations and its streaming business turned a profit. Theme parks also continued to do well and the company boosted its outlook for the year. While Disney said Tuesday that it foresees its…
Written by Cludio Afonso | [email protected] | LinkedIn | X Fisker GmbH, the Austrian entity of Fisker, announced on Tuesday its voluntary filing for a restructuring proceeding via self-administration under the Austrian Insolvency Code. Its relevant to highlight that the other entities are not involved in the Austrian restructuring proceeding and continue to operate normally. NEVER MISS AN UPDATE The…
The financial downfall of UK greenhouse company UK Salads Limited (UKSL) was triggered by a series of significant challenges, resulting in the company owning its creditors almost 18m when it went into administration. This is revealed by the recently published Statement of administrator’s proposal. In December 2022, the company’s largest client rejected a substantial number…
Chartered accountant Lorcan O’Connor has joined the Insolvency Service Board as non-executive member Mr O’Connor was the founder of the Insolvency Service of Ireland (ISI) and led the organisation for seven years He joined the UK Insolvency Service Board on 2 April and was inducted on 2 May 2024 Lorcan O’Connor, founder and former leader…
Recent reports from tech publication Electrek revealed that electric vehicle manufacturer Tesla has initiated layoffs within its software, service, and engineering departments. This move comes in suit with the company’s announcement last month of a global workforce reduction exceeding 10 per cent, which included the dissolution of its electric vehicle charging division. Sources familiar with…
Bonza will ground its entire fleet until later this week pending discussions on whether the budget airline will be able to operate during its voluntary administration period. ASIC documents show the low-cost carrier, which was founded in late 2021 and only began flying last year, is now in external administration. Administrators Hall Chadwick said the…