A prominent Western Australian builder has issued an emotional statement as his company enters voluntary administration. Modco Residential, a construction company founded by glamour couple Cynthia Lu and Yusuf Khan, has appointed perth-based firm GTS Advisory to assist in navigating its unfolding collapse. Director Damien Clancy apologises that the company, which specialises in steel framed…
A building company has collapsed after a long, drawn-out death, placing the fate of at least a dozen projects into jeopardy. On Wednesday, the Victorian Supreme Court ordered Apex Homes Australia Pty Ltd to go into liquidation. Judicial Registrar Gitsham forced the melbourne-based construction company to liquidate on the grounds of “insolvency” and she said…
Bonza’s aircraft have been seized by AIP Capital, an investment house owned by the parent of 777 Partners, ACAP, to recoup money owed to investors, sources close to the matter said. 777 Partners originally bought the aircraft and issued long-term leases to Bonza during COVID-19. AIP confirmed the aircraft had been transferred to a new…
A NATIONAL removals company has been placed into liquidation, as Tasmanian customers remain in limbo about when their personal belongings may finally be delivered. Last month, a winding up application was lodged against Wridgways Australia, which is now in liquidation following an order from the Queensland Supreme Court. The Mercury last week reported the story…
Getty Images The low-cost carrier has only been operating flights in Australia since 2023 Australia’s newest budget airline has gone into voluntary administration, after abruptly cancelling all of its flights on Tuesday. Bonza’s financial woes have left thousands of passengers stranded around the country. Operating since last year, the carrier had been the first to…
A group of apartment owners in sydney‘s north has had to find millions of dollars to rectify defects in their complex which emerged since it was completed 10 years ago. Key points: The owners estimate it has cost them several million dollars to rectify the defects over the past decade Strata chair Andrew Murray said owners…
It was announced earlier today that the melbourne Rebels would sadly not being taking part in the 2025 Super Rugby Pacific season. After the club was placed into voluntary administration in January, their application to rejoin the league next season was always going to be on shaky ground. Rugby Australia concluded that the consortium’s proposed…
National Disability Insurance Scheme software provider GoodHuman has been forced into liquidation amid a court ruling that it has nearly $3 million in debts. The melbourne-based company, which sells software that simplifies administration for NDIS service providers, is believed to owe affected staff members between nine and 18 weeks of unpaid wages and up to…
The New Zealand-owned restaurant group likely traded while insolvent, according to a new report. Save You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime. Got it The group behind
More than a dozen independent breweries have been pushed to the brink of insolvency in the past 12 months. Save You have reached your maximum number of saved items. Remove items from your saved list to add more. Save this article for later Add articles to your saved list and come back to them anytime.…