Corporate insolvency levels dropped by 16.6% in March 2024, while personal insolvencies also fell by 17.2% during the same period, according to new statistics from the Insolvency Service. Corporate insolvencies decreased to a total of 1,815 compared to February’s total of 2,177, and decreased by 17.2% compared to March 2023’s figure of 2,193. Personal insolvencies…
Rugby Australia have issued a statement after the administrator for the financially stricken Melbourne Rebels recommended creditors accept a proposed deal to save the club, adding it may have been trading while insolvent for the last five years. ADVERTISEMENT The Rebels went into voluntary administration in January with Rugby Australia taking over their competition licence…
Another builder in Western Australia has gone bust, it was announced today. Collier Homes has collapsed into liquidation after more than 60 years of operation. The news also means several families have been left in the lurch, with unfinished homes. Collier Homes has collapsed into liquidation after more than 60 years of operation, leaving several…
There were 1,168 corporate insolvencies in 2023/2024 – up 3% from 2022/2023s figure of 1,132 – and a rise of 23% when compared to pre-pandemic levels in 2019/2020. There were 8,085 personal insolvencies in the last financial year, up 1% on 2022/2023s figure of 8,001, but down 40% compared to pre-pandemic levels, according to the…
David Alexander Scottish corporate insolvencies have decreased from 346 in Q4 2022-23 to 301 in Q4 2023-24, according to the latest insolvency data statistics from Accountant in Bankruptcy (AiB). This is a decrease of 13.0%. Over the same period, there were MVLs (members voluntary liquidations) were down to 94 from 200 a decrease of 52.0%. Creditors…
In short: Perth builders Collier Homes was placed into liquidation earlier this week, after more than 60 years in operation. It is the latest in a series of building company collapses that have plagued the industry nationwide since the COVID pandemic. The WA government said it stood by its post-COVID stimulus packages that ‘turbo-charged’ the market.…
A huge national company, which is a major supplier to the building industry, has fallen into voluntary administration after it racked up debts of $20 million. Lutum is one of three manufacturers of roofing tiles in Australia and employs approximately 150 people. It supplies roofing tiles and masonry products across Australia with manufacturing sites in…
Advertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…
One of Western Australias biggest residential building companies has collapsed, with Collier Homes falling into liquidation after more than 60 years. The Australian Securities and Investment Commission confirmed the company would shut down, with Robert Conry Brauer and Linda Methven Smith, from McGrath Nicol, appointed as liquidators. Collier Homes was created in 1959 by Raymond…
One of Western Australias biggest residential building companies has collapsed, with Collier Homes falling into liquidation after more than 60 years. The Australian Securities and Investment Commission confirmed the company would shut down, with Robert Conry Brauer and Linda Methven Smith, from McGrath Nicol, appointed as liquidators. Collier Homes was created in 1959 by Raymond…