Australia will see a raft of reforms to the national bankruptcy system introduced so that debtors involved in personal insolvency matters receive fairer outcomes. On Monday, Attorney-General (A-G) Mark Dreyfus said key changes would lift the stigma associated with filing for bankruptcy. The changes include increasing the timeframe in which a debtor may respond to…
It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate. At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow…
The involuntary bankruptcy threshold will lift from $10,000 to $20,000, Attorney-General Mark Dreyfus says, giving debtors more breathing room before their creditors can launch court action. On Monday, Attorney-General Dreyfus said the federal government will introduce a suite of reforms to the bankruptcy system, bringing it up to speed with the contemporary economic landscape. In…
Jul 7, 2024 10.30pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? The threshold for involuntary bankruptcy will rise to $20,000 and bankrupts will have their official records cleared after seven years, under an overhaul of personal insolvency laws being unveiled…
The e-bike business at the centre of allegations made against independent MP Darleen Tana and her husband has gone into liquidation this afternoon. The findings of a Green Party-commissioned investigation into Tana were publically released earlier today after she resigned from the party last week. Her husband Christian Hoff-Nielsen owns the business which has become…
By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 18:38 AEST, 15 July 2024 | Updated: 19:54 AEST, 15 July 2024 A construction company has plunged into liquidation after building an apartment complex for socialite entrepreneur John Singleton … Read the full article at: https://www.dailymail.co.uk/news/money/article-13634213/Stevens-Construction-NSW-Central-Coast-company-built-apartments-John-Singleton-supermarkets-Woolworths-Coles-goes-liquidation.html
Darleen Tana resigned as a Green MP last week. Photo: Green Party NZ Former Green MP Darleen Tana’s husband’s e-bike business is in liquidation, on the same day the executive summary of the report into what she knew about allegations of migrant exploitation at the business was publicly released. The New Zealand Companies Register shows…
The firm had a portfolio worth more than $400 million, ranging from luxury apartments and affordable housing to retail projects, but on Friday formally went into liquidation, according to documents filed with ASIC. Creditors have been told to submit their debts or claims by August 5. Stevens Construction has collapsed two months after going into…
Aussie online retailer Booktopia insists it was at all times trading in line with insolvency laws, as administrators continue to pore over its books. Administrators said the company could be as much as $60m in debt on Monday, the first day creditors have met since the bookseller collapsed less than two weeks ago. The ABC…
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”…