All Trades Queensland, nation’s largest commercial employer of apprentices and trainees, in administration amid COVID-19 ‘economic downturn’ – 9News

Liquidation

All Trades Queensland (ATQ), the largest commercial employer of apprentices and trainees in Australia, has collapsed into administration. Administrators say business will continue, with the first creditors meeting due August 3. John Park and Joanne Dunn of FTI Consulting were appointed as voluntary administrators of ATQ today. ATQ employs 414 apprentices and has 638 active…

Key Takeaways From the Corporate Insolvency and Governance Act 2020: Restriction on Ipso Facto Clauses – JD Supra

Liquidation

On 26 June 2020 the Corporate Insolvency and Governance Act 2020 (the Act) came into force, introducing a number of permanent reforms to English insolvency and restructuring law. Among these reforms is a restriction on the effectiveness of certain termination clauses in contracts for the supply of goods and services where a counterparty enters an…

ASIC Suspends AFS Licence of USGFX After Voluntary Administration – Finance Magnates

Liquidation

Following the voluntary administration of Union Standard International Group, which operated under the brand USGFX, the Australian Securities and Investments Commission (ASIC) announced this Tuesday that is has suspended the companys Australian Financial Services (AFS) licence. According to the Australian regulator, the AFSL of USGFX has been suspended under section 915B of the Corporations Act…

UK – Recruitment director banned after awarding himself £150k bonus prior to company’s liquidation – Staffing Industry Analysts

Liquidation

Daily News View All News 20 July 2020 A UK recruitment director has been banned for six years for paying himself a 150,000 bonus prior to the recruitment firm entering liquidation. Roy Davies has been banned from acting as a director or directly or indirectly becoming involved, without the permission of the court, in the…

Aussie student travel company collapses, leaving thousands in the lurch – Travel Weekly

Liquidation

A local travel company specialising in educational tours has gone into liquidation, citing COVID-19 and issues with its insurance company as the final nails in the coffin. Antipodeans Abroad has been showing high schoolers, schoolies and university students the world for almost 30 years, but COVID-19s travel restrictions and cancellations have all but wiped the…

Will Australia experience a surge in Voluntary Administration once financial stimuli lapses? – Kalkine Media

Liquidation

Summary The COVID-19 Pandemic has disrupted business activities leading to a significant business loss in many sectors primarily hospitality, tourism, airlines, and retail industry, pushing operators towards insolvency Government stimulus programs such as job-keeper program and a temporary moratorium on director liability for insolvent trading are set to become ineffective from September end to November,…

Equestrian Australia avoids liquidation as creditors agree to reform – Australasian Leisure Management

Liquidation

Troubled national sporting organisation Equestrian Australia has avoided liquidation with creditors having agree to support administrator KordaMenthas proposal to reform the sport. In June, Sport Australia forced the NSO into voluntary administration, deeming its governance unacceptable after the resignation of eight directors and three chairs in just over 16 months. As of Tuesday this week,…