The Australian Financial Security Authority (AFSA) will sharpen its regulatory posture to maximise its impact as personal insolvencies head back towards pre-pandemic levels, chief executive Tim Beresford says. He said a modernisation program was underway that would make it simpler for most bankrupts typically consumers involving small amounts to go through administration so AFSA could…
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…
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.…
Joint liquidators Daniel Lopresti and Simon Miller are urgently seeking parties who may be interested in making offers to purchase the business or assets of Hindmarsh-based knitwear maker Silver Fleece. The company best known for making the Australian cricket teams woollen tops went into liquidation on Wednesday after more than 70 years of creating custom…
Sale event being managed by Hilco Merchant Resources and Gordon Brothers. NORTHBROOK, Ill., July 1, 2024 /PRNewswire/ — Bob’s Stores (“Bob’s”), a subsidiary of GoDigital Media Group, announced that the company will close all of it’s Bob’s locations and liquidate all inventory, as part of the Chapter 11 restructuring petition filed on June 18, 2024.…
Australias largest online book retailer Booktopia has entered voluntary administration. This has left customers in the dark on unfulfilled orders. After 20 years of operation, the company is assessing whether to sell or recapitalise after trading at a loss for more than 12 months. Sky News Australia was joined by Australian Retailers Association Industry Affairs…
Just days after the Australian online bookseller asked to extend an suspension on the trading of its stock, Booktopia has taken the more drastic step of appointing a firm to oversee its voluntary administration. The move indicates the high unlikelihood that the company will continue to operate in its current form. In an announcement made…
Video: Booktopia collapses into voluntary administration Booktopia collapses into voluntary administration Were sorry, this feature is currently unavailable. Were working to restore it. Please try again later. Dismiss Skip to sections navigationSkip to contentSkip to footer Our network Open NavigationMenu Advertisement Booktopia has entered voluntary administration after failing to secure emergency funding. July 3, 2024…
By Jessica Yun Updated July 3, 2024 5.34pmfirst published at 10.40am Normal text sizeLarger text sizeVery large text size Booktopia has gone into voluntary administration weeks after suspending its shares on the ASX as rival Dymocks considers snapping up some of its assets. The embattled online book retailer, which has been scrambling to secure emergency…
A15LE E battery-electric bus (Photo: Van Hool) Belgian bus OEM Van Hool has been declared bankrupt by the Commercial Court of Mechelen, a court in Belgium which deals with commercial litigation. According to media reports the company had accumulated a debt of 400 million. This was further compounded by a family inheritance dispute over shares…