In May there were 118 company insolvencies registered in Scotland, 22% higher than during the same period last year. This was comprised of 71 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations and four administrations. There were no company voluntary arrangements (CVAs) and no receivership appointments recorded in the figures from Accountant in Bankruptcy, Scotland’s insolvency…
My father was a compulsive gambler. I am a gambler, and I have occasionally used a credit card to find an online gambling account in Pennsylvania. State Sen. Wayne Fontana wants to prevent me or anyone else from doing that. He is right. The longtime suburban Pittsburgh lawmaker recently introduced Senate Bill 1159, intended to…
Best Buy, the US equivalent of Australias JB Hi-Fi, has reportedly carried out another round of layoffs and job restructurings last week. The consumer electronics and appliance retailer cut some of its sales staff and reduced the pay for others, reported The Verge citing current and former employees. The layoffs appeared to have mostly targeted…
Thursday, 13 June 2024 Debt relief can HELP regional access to justice A scheme to provide relief from tertiary education debt for lawyers who relocate to practise in rural, regional and remote (RRR) areas has the potential to jump start access to justice for communities in need. President of the Law Society of NSW Brett…
In short: Lawyers say a shortage of workers outside metropolitan areas is straining the court system and leaving people in need without help. They say people are representing themselves in court, which can double the average time it takes to hear a case and lead to people owing large amounts of money. What’s next? There…
On the 24 September 2020, the Australian Government announced changes to Australias insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduced new processes suitable for small businesses, reducing complexity, time and costs for small businesses. Effective from 1 January 2021, these are the most significant reforms to Australias…
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…
Cubitt’s in Emu Plains. Share this story Efforts to save long-time Penrith business Cubitts Granny Flats and Home Extensions have failed. After 30 years, the family owned business has been formally placed into liquidation by creditors. As previously reported by the Weekender, the business was placed into voluntary administration in February. There is some bright…
Thirty-year-old Darlinghurst Theatre Company has been placed into voluntary administration. In a shock announcement on social media, the company’s directors announced their resolution to appoint Jonathon Keenan and Peter Krejci of BRI Ferrier as administrators. DTC had been actively promoting ticket sales and its donor programme as recently as last week in an economic environment challenging…
A farming business with operations across Australia has entered voluntary administration, putting some 500 jobs at risk. HS Fresh Food, which specialises in fresh salads, ready-made meals, snacks, food-to-go and pre-prepared vegetables products, collapsed on June 14, with FTI Consulting administrators Vaughan Strawbridge, Joanne Dunn and Ben Campbell brought in to restructure the troubled company.…