Australian businesses are teetering towards an insolvency cliff, as rocketing interest rates cause companies to miss payments at a record rate. Business to business trade payment defaults jumped to a high of 1586 in June – a 52 per cent increase on the previous year – according to the latest CreditorWatch business risk index. The…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
Among the insolvencies handled by Begbies were Paperchase, Worcester Rugby Club and the operator of the Park Lane Casino. (David Davies/ PA) (PA Wire) Insolvency specialists Begbies Traynor said the amount of companies going bust could keep rising all the way into 2024, but the growth will be steady rather than a sudden jump. Profit…
Building companies are dropping like flies and two more have collapsed just days apart, leaving homeowners and tradesmen reeling. On June 26, NSW-based luxury builder Millbrook Homes collapsed into liquidation owing more than $4 million to roughly 80 creditors. Then just four days later, on June 30, Victorian residential construction firm Bentley Homes also appointed…
New Delhi: The government is unlikely to tweak the Insolvency and Bankruptcy Code (IBC) to lift the moratorium on idle spectrum in insolvency resolution cases involving telecom companies, people familiar with details said. The government last month tweaked the IBC rules to exempt production and revenue-sharing contracts, exploration licences and mining leases of insolvent petroleum…
Normal text sizeLarger text sizeVery large text size Victorians building homes will be slugged with even higher costs after builders were hit with a 43 per cent increase in insurance premiums to protect their customers from insolvency, adding hundreds of dollars to construction costs that the housing sector expects will be passed on. The Victorian…
The Insolvency Service has today launched a new online information hub to support company directors. The hub hosts guidance and information on a rangeof business themes commonly faced by companies and aims to help company directors to push their business forward by being more aware of potential pitfalls. It is specifically designed for directors of…
Victorians building homes will be slugged with even higher costs after builders were hit with a 43 per cent increase in insurance premiums to protect their customers from insolvency, adding hundreds of dollars to construction costs that the housing sector expects will be passed on. The Victorian Managed Insurance Authority on Monday announced domestic building…
Assets related to Hanmi Pharm’s platform technology Orascovery, an oral drug discovery platform technology, will be transferred to C-Mer Eye Care Holdings, a Hong Kong-based healthcare company. Hanmi’s U.S. partner, Athenex, which declared bankruptcy, transferred its assets, including Orascovery, to C-Mer Eye Care Holdings. Athenex, Hanmi’s U.S. partner, which declared bankruptcy in May, recently signed…
BENGALURU, July 10 (Reuters) – India’s Go Airlines (India) Ltd has invited investor interest in the company through a court-appointed administrator as part of the carrier’s ongoing insolvency process, a newspaper advertisement showed on Monday. The process of inviting an Expression of Interest (EoI) signifies the formal commencement of seeking buyers or investors for a…