Bonza Liquidation Ensures Worker Certainty, Isolates Regional Australia: TWU – Mirage News

Transport Workers’ Union Bonza creditors have today voted to liquidate the company, providing workers access to the government’s Fair Entitlements Guarantee scheme. However, the TWU warns regional Australia won’t reconnect with the rest of the country without a Safe and Secure Skies Commission. Approximately 500 Bonza workers were terminated on 11 June but the government’s…

Debt collection giant Panthera puts large parts of its business into administration – The Guardian Australia

Major private debt collector Panthera Finance has appointed new directors and put parts of the company into administration as it seeks to sell off its scandal-plagued business. Last month, Guardian Australia revealed Panthera, one of the countrys biggest private debt collection firms, had circumvented a blacklisting designed to stop it from operating in Victoria and…

Insolvencies are rising. What precautions should leaders take? – Consultancy.com.au

The number of companies entering external administration has hit a ten-year record high last month, illustrating the mounting pressures on businesses. John Park, senior managing director at FTI Consulting, outlines why and how businesses of all sorts and sizes should be taking sensible precautions. For the nine-month period from 1 July 2023 to 31 March 2024,…

Insolvency and tech burning bright and fast: the cash runway challenge and navigating insolvency – Clayton Utz

There has been an increase in company insolvencies in Australia. Startups and early-stage technology companies have not been shielded from this, with recent high-profile collapses including Tritium and Milkrun. In this article we discuss insolvent trading risks, the state of the startup market, unique risks to startups and the protections offered by the “safe harbour”…

How Safe Harbour provisions work for startups facing insolvency – SmartCompany

The Australian startup ecosystem is facing its next wave of financial challenges. With a 54% decline in capital raised by Australian startups in 2023 and a 14.5% rise in insolvencies, Australian startups are financially strained. For those operating in the capital-intensive tech sector in particular, the time between funding rounds is harder than ever. Tech…