Category Archives: Bankruptcy

ACCC grants conditional authorisation for managing soft plastics … – Packaging Gateway

The decision will affect national supermarket chains such as Aldi, Woolworths, and Coles. Credit: Olga Miltsova via Shutterstock. The Australian Competition and Consumer Commission (ACCC) has confirmed that it has granted conditional authorisation to supermarket chains to help continue their collaborative efforts to manage soft plastics stockpiles. This authorisation signifies that the countrys main supermarket…

Insolvency Services Crackdown on Delinquent Directors – IBB Solicitors

As the Insolvency services tighten their belt and crack down on delinquent directors, it comes as no surprise that there is a sharp increase in the number of director disqualifications for frauds related to the Covid-19 Bounce Back Loans (BBL). The recent figures published by the Insolvency Service show that out of the total 932…

'Seriously weakened' Codema forgot home markets – hortidaily.com

Prior to the bankruptcy, Codema was ‘seriously weakened’ by ‘poor management.’ This is the conclusion drawn by the trustee after completing its investigation into the causes of the bankruptcy. In a new report. Because of the problems that had arisen, work was necessarily taken on under cost price, resulting in high failure costs and mounting…

Supporting insolvency practitioners through turbulent times – Marsh

As an insolvency practitioner, navigating those tricky, high risk, cases, can often take a toll on your, and your employees, mental health. By definition, your work requires the ability to balance various duties and handle pressure from concerned creditors, anxious or unhelpful directors, and distressed employees. It can be a distressed and distressing environment in…

Embattled pool company owner blames 'keyboard warriors' after collapse – Nine Shows

The owner of an embattled pool company which has left 50 Victorian families drowning in debt claims “keyboard warriors” were partly to blame for the business’ collapse. Douglas Constable sat down with A Current Affair after Dreamtime Pools and Spas was accused of leaving customers high and dry following its insolvency. Constable said before the…

Dozens of families lose out in home-builder's collapse – Yahoo News Australia

Dozens of families are in limbo or out of pocket after a Melbourne-based home-builder collapsed. Bentley Homes slid into liquidation on Friday, catapulting customers and creditors into an anxious wait for news. Crouch Amirbeaggi Insolvency Services liquidator Timothy Holden on Monday revealed the company owed an estimated $1.6 million to trade and related-party creditors. Substantial…

Dozens of families lose out in home-builder's collapse – Yahoo Sport Australia

Dozens of families are in limbo or out of pocket after a Melbourne-based home-builder collapsed. Bentley Homes slid into liquidation on Friday, catapulting customers and creditors into an anxious wait for news. Crouch Amirbeaggi Insolvency Services liquidator Timothy Holden on Monday revealed the company owed an estimated $1.6 million to trade and related-party creditors. Substantial…

Porter Davis compensation scheme expanded – WAtoday

Support will be capped at $50,000 each, meaning some customers of Hallbury Homes will still be out of pocket, having paid deposits valued up to $94,000. Sushant Chakravarty said he and his wife Anamica still faced losing about $25,000 after Hallbury went under and left their lot in Officer empty. Chakravarty was relieved on Saturday…

Tears and relief as Porter Davis scheme expands to more customers of failed builders – The Age

By Rachel Eddie Updated July 1, 2023 6.31pmfirst published at 6.13pm Hundreds of customers of failed builders who faced losing tens of thousands of dollars will be compensated under a $13 million expansion of a government rescue package triggered by the collapse of Porter Davis. Premier Daniel Andrews in April launched a $15 million package…

Tears and relief as Porter Davis scheme expands to more customers of failed builders – Brisbane Times

Support will be capped at $50,000 each, meaning some customers of Hallbury Homes will still be out of pocket, having paid deposits valued up to $94,000. Sushant Chakravarty said he and his wife Anamica still faced losing about $25,000 after Hallbury went under and left their lot in Officer empty. Chakravarty was relieved on Saturday…