Business failures are on the rise in Britain, with several high-profile names lost already this year. But since the 1980s, the UK has made it a priority to throw a lifeline to struggling companies. It appears, however, that these efforts to enhance the law are being hampered by sloppy language in the media, increasing the…
The Federal Court’s recent decision in Stone (Liquidator), in the matter of RIC Admin Pty Ltd (in liq) v Mandalinic (No 2) [2024] FCA 164 demonstrates the analysis the courts will undertake in determining a director’s personal liability for insolvent trading, even when the director does not appear for the hearing. The case reiterates how…
Personal insolvencies are spiking as the cost-of-living crisis continues to bite and business failures trigger a ripple effect and theres more to come, says insolvency and business turnaround specialist Jirsch Sutherland. The comments come off the back of the March quarter 2024 new personal insolvencies statistics from AFSA, which reveals an increase of almost 20%…
The debts of a collapsed group of NSW businesses have blown out to almost $23 million, while other subsidiaries have quietly gone under in recent weeks. News.com.au reported in April that a western Sydney factory had closed down and all workers had been terminated on the spot. It comes after two companies linked to the…
By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 17:56 AEST, 24 June 2024 | Updated: 13:02 AEST, 25 June 2024 A major home building company has collapsed just 18 months after it was fined more than $40,000 for underpaying a worker… Read the full article at: https://www.dailymail.co.uk/news/money/article-13561889/Designer-Projects-Victoria-Pty-Melbourne-home-building-company-liquidated-fined-underpaying-worker.html
HOUSTON (AP) A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones personal assets but dismissed his companys separate bankruptcy case, leaving the immediate future of his Infowars media platform uncertain as he owes $1.5 billion for his false claims that the Sandy Hook Elementary School shooting was a hoax. Judge Christopher…
Australian agribusiness HS Fresh Food, known for its fresh salads, ready-made meals, and pre-prepared vegetable products, has entered into voluntary administration, impacting around 500 jobs. The company, which operates under brands such as Houston’s Farm, Sunfresh, and Gourmet Selections, and supplies to major retailers like Coles and Woolworths, appointed FTI Consulting administrators Vaughan Strawbridge, Joanne…
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…
Darlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the Darlo has been a mainstay of Australian theatre for three…
Above: Sule Arnautovic from Salea Advisory Access Print Solutions, Graphic Print Group (GPG) and Graphic Web in Sydney and Adelaide are now for sale after entering voluntary administration with 50 employees affected. Sule Arnautovic from Salea Advisory has been appointed voluntary administrator for the three businesses by the directors of the business. Arnautovic is a…