Aaron Salvestrin was once touted as a rising star of the industry. Photo: Sans Pareil. Griffith winemaker Aaron Salvestrin declared himself bankrupt just seven days after the Supreme Court ordered him to pay back several million dollars to creditors, an exclusive Region investigation has revealed. The 29-year-olds winery Sans Pareil Estate went into liquidation in…
During the pandemic, many jurisdictions amended their insolvency laws to lessen the impact of the pandemic. In some cases, these amendments operated on a temporary basis until the impact of the pandemic abated. In other cases, more permanent reforms were introduced to improve insolvency legislation generally. In Australia, as noted in the recent report of…
On the ropes due to a lack of consumer spending in its international markets, UK-based party goods manufacturer and retailer Wonder Group (formerly Amscan International) is on the verge of entering into administration. According to reporting from Sky News from yesterday, Wonder is preparing to appoint an insolvency advisor to see it through the UKs…
Fisker was once seen as a potential challenger to Tesla, however, the company by Danish car designer Henrik Fisker never reached a comparative size and fell far short of (its own) expectations in terms of unit sales. And it had been struggling for a long time: the companys great hope, the Ocean electric SUV, was…
In May 2024, the number of registered company insolvencies in England and Wales was 2,006, 6.4% lower than in April 2024. The worst hit sector was construction, accounting for 18% of company collapses, with 4,401 insolvencies in the 12 months to April 2024, reaching a total of 4,401. There is also a stark reminder that…
Data from the Australian Financial Security Authority (AFSA) has found a significant rise in personal insolvencies for the March 2024 quarter. According to the report, there has been a 19.5% increase compared to the same period last year. Unsurprisingly, economic challenges have been contributing to this rise, including cost of living pressures. However, a large…
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…
Fisker was once seen as a potential challenger to Tesla, however, the company by Danish car designer Henrik Fisker never reached a comparative size and fell far short of (its own) expectations in terms of unit sales. And it had been struggling for a long time: the companys great hope, the Ocean electric SUV, was…
In May 2024, the number of registered company insolvencies in England and Wales was 2,006, 6.4% lower than in April 2024. The worst hit sector was construction, accounting for 18% of company collapses, with 4,401 insolvencies in the 12 months to April 2024, reaching a total of 4,401. There is also a stark reminder that…
On the ropes due to a lack of consumer spending in its international markets, UK-based party goods manufacturer and retailer Wonder Group (formerly Amscan International) is on the verge of entering into administration. According to reporting from Sky News from yesterday, Wonder is preparing to appoint an insolvency advisor to see it through the UKs…