The future of one of the airlines servicing Newcastle Airport has been thrown into doubt. The budget carrier Bonza has now entered voluntary administration after cancelling all of its flights on the east coast of Australia on Tuesday morning. Passengers, including those travelling between Newcastle, the Sunshine Coast and Whitsundays, were left stranded when the…
: RusAviaInsider Russias State Transport Leasing Company (GTLK) in its 2023 IFRS report has admitted the loss of 2.49 billion roubles as a result of liquidation of its two Irish subsidiaries last year. In compliance with IFRS 10, as a result of the May 31, 2023 decision taken by the High Court of Ireland ordering…
More and more home builders are collapsing across Australia as soaring materials and labour costs cripple the companies working desperately to meet the countrys surging demand for houses. Data from the Australian Securities and Investments Commission shows a gathering pace of construction insolvencies in the past three years, with 2196 builders going bust in the…
Apr 25, 2024 12.34pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? WA builder Collier Homes went into liquidation this week for the second time in eight years after the company previously owned by former Family First senator Bob Days Home…
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.…