Small and medium businesses (SMBs) that are facing insolvency shouldnt be subject to the same rules as other businesses, the Law Council of Australia said. The peak body of Australias legal profession said that Australia should move away from a one-size-fits-all approach under the Corporations Act of 2001. The Law Council said it was supporting…
Listen to this story The Law Council of Australia is encouraging the Governments move away from theone-size-fits-all approach when dealing with small businesses facing insolvency to be fast-tracked. The reforms to the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 aim to establish a new formal debt restructuring process for eligible small businesses, to enable financially…
By Jamie Freed 4 Min Read SYDNEY (Reuters) – Virgin Australia looks set to cut basic fares and start charging fees for items like checked baggage and food under new chief executive Jayne Hrdlicka, prompting a wider industry shake-up as the countrys airlines reawaken from the coronavirus crisis. FILE PHOTO: A Virgin Australia Airlines plane…
There is no doubt that markets have remained remarkably resilient in the face of uncertainty in large part because of the massive policy support for both the real economy and for financial markets themselves. Yet, it is important for investors to nonetheless ensure investment portfolios are prepared for a range of possible outcomes. Markets are…
The Nullagine site in the Pilbara region of Western Australia. Image: Novo Resources Latest News GR Engineering Services has secured a contract with Millennium Minerals which will lead to the restart of the processing plant at the Nullagine gold project in Western Australia next year. The $8.3 million contract includes the refurbishment and upgrade of…
The board of directors of Riviera Resources has approved the dissolution, winding up, and liquidation of the company and adopted a plan of liquidation and dissolution, under which the Houston-based independent will cease to exist by the end of this year. The dissolution will mark the end of a 2-year existence for Riviera, which was…
Its been a turbulent year in travel. One big change of many has been Virgin Australias descent into voluntary administration. As Virgin Australia transitions into a more middle market offering, in order to struggle back to its feet, Velocity points holders are losing some of the perks they used to take for granted. As DMARGE…
Corporate Insolvency and Governance Law 2020: COVID-19 Changes to Insolvency Law Come into Force Many businesses are relentlessly fighting the financial crunch resulted from Covid-19 crisis to survive the economic scare. The current COVID-19 pandemic has placed a lot of businesses registered in England and Wales into a position where they are now either balance…
A month-on-month rise in the number of corporate insolvencies in England and Wales may indicate that businesses which were healthy and profitable pre-COVID-19 are now starting to struggle. This is according to the Midlands branch of insolvency and restructuring trade body R3 and comes on the back of figures published by the Governments Insolvency Service…
For tens of thousands of airline workers that have either lost their jobs or have been stood down because of international travel bans imposed due to the COVID-19 pandemic, finding new work has not been easy. Key points: Thousands of Qantas and Virgin workers have lost their jobs, and many are still looking for work…