Data from the Australian Financial Security Authority (AFSA) has found a significant rise in personal insolvencies for the March 2024 quarter. According to the report, there has been a 19.5% increase compared to the same period last year. Unsurprisingly, economic challenges have been contributing to this rise, including cost of living pressures. However, a large…
A building company that straddled two different states and territories has collapsed, leading to a domino effect impacting 130 projects and 80 staff members. On Friday, creditors voted to place Cubitts Granny Flats and Home Extensions into liquidation. The builder worked in both NSW and the ACT and been in business for 30 years. News.com.au…
Seven childcare centres in Adelaide are in danger of shutting down after the company behind them went into voluntary administration. Precious Cargo Education called in administrators this morning, with founder and director Cheryl Shigrov saying difficulties facing the entire industry were behind the company’s struggles. “In recent years there have been some challenges that the…
May 23, 2024 6.02pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Luxury Australian fashion brand and favourite to the stars, Dion Lee, entered voluntary administration on Thursday. Antony Resnick of insolvency firm dVT Group has been appointed administrator to the…
In short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…
Last week the National Company Law Tribunal (NCLT) granted a 60-day extension to the grounded airline Go First to complete its insolvency process. It was the fourth time it was doing so. In this issue of DH Deciphers, Abhilash Reddy, unpacks why the matter is dragging and how it got here. How long has the…
A building company that straddled two different states and territories has collapsed, leading to a domino effect impacting 130 projects and 80 staff members. On Friday, creditors voted to place Cubitts Granny Flats and Home Extensions into liquidation. The builder worked in both NSW and the ACT and been in business for 30 years. News.com.au…
Aaron Salvestrin was once touted as a rising star of the industry. Photo: Sans Pareil. Griffith winemaker Aaron Salvestrin declared himself bankrupt just seven days after the Supreme Court ordered him to pay back several million dollars to creditors, an exclusive Region investigation has revealed. The 29-year-olds winery Sans Pareil Estate went into liquidation in…
Key Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy wont release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
Sir Bradley Wiggins, the first Briton to win the Tour de France, has been declared bankrupt amid financial difficulties with his businesses. The cyclist, who also won eight Olympic medals, including five golds, has had a troubled relationship with his business ventures since retiring in 2016. Wiggins Rights Limited, which owns the trademarks to Bradley…