Trade credit debt is almost as high as bank debt among people entering business related personal insolvency, the Australian Financial Security Authority reports. AFSA found that in September, people in business who entered into a personal insolvency owed 35 per cent of their debts to banks and 32 per cent to businesses, sole traders or…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 43 bankruptcies in week 41, 6 more than in week 40. In addition, 6 sole proprietorships were declared bankrupt, 4…
A bankrupt Sydney gym and construction entrepreneur previously involved in several collapsed companies is being chased by Brisbane tradespeople who claim they are owed thousands of dollars for work on an inner-city ‘fitness village’. Texture Creative and Wilson Emergency Lighting were this week owed a combined $31,000 for work completed for Fit Village at Paddington,…
A bankrupt Sydney gym and construction entrepreneur previously involved in several collapsed companies is being chased by Brisbane tradespeople who claim they are owed thousands of dollars for work on an inner-city ‘fitness village’. Texture Creative and Wilson Emergency Lighting were this week owed a combined $31,000 for work completed for Fit Village at Paddington,…
A bankrupt Sydney gym and construction entrepreneur previously involved in several collapsed companies is being chased by Brisbane tradespeople who claim they are owed thousands of dollars for work on an inner-city ‘fitness village’. Texture Creative and Wilson Emergency Lighting were this week owed a combined $31,000 for work completed for Fit Village at Paddington,…
Accounting firms are increasingly at risk of being owed bad debts by business clients who go under, the Australian personal insolvency regulator has found. The Australian Financial Security Authority (AFSA) has marked accountants as one of six common businesses that are highly exposed to trade credit debt, with new statistics revealing that such debts are…
Download CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days 2016 October 303 2016 November 417 2016 December 332 2017 January 336 2017 February 292 2017 March 304 2017 April 263 2017 May…
A farmer has secured a court deal restructuring his farming and property debts through a personal insolvency solution while securing a write-off of 708,000 on his home mortgage and holding onto his farm. The High Court approved a personal insolvency arrangement (PIA) for Charles Kavanagh, a 58-year-old farmer from Co Wexford, enabling him to hold…
Photograph: Shutterstock Last week, California Pizza Kitchen canceled its auction after no worthy bidders came forward to buy the casual-dining chain. The result: The company will likely end up in the hands of its lenders. That came the same week that Ruby Tuesday started its bankruptcy process with a plan that hands the keys to…
The interim moratorium under Section 96 Insolvency & Bankruptcy Code (IBC) shall continue to be in effect in all cases where an application under Sections 94, 95 has been filed, Delhi High Court said today as it listed the challenge to personal insolvency proceedings for arguments on November 10. (Anil Ambani vs SBI & Ors)…