The administrator of the collapsed auction house Mossgreen is refusing to return consigned goods to more than 1,000 collectors unless it is paid maintenance fees totalling more than $3.5 million. It comes after Mossgreen, renowned for selling artwork and rare collectables, went into voluntary administration in December. The latest development more than triples the…
By Press Association Published: 00:23 AEDT, 17 February 2018 | Updated: 00:23 AEDT, 17 February 2018 e-mail A judge has ordered the winding up of 10 Carillion companies at the High Court. Mr Justice Nugee, sitting in London on Friday, heard directors of the crisis-hit construction firm concluded there was no alternative but to place…
CITY of Stirling is investigating the impact the collapse of builder Cooper & Oxley will have on the Scarborough Beach Pool. The Perth construction firm entered voluntary administration on February 8, with Hall Chadwick appointed as external administrators. It was responsible for building the $26 million pool facility, which opened on January 22. Infrastructure director…
Tomcar Australia, subject of a round of 2017 articles that labeled it as “Australia’s last automotive manufacturer”, has gone into voluntary administration. Citing hostile investors and increasing costs of business, admistrators confirmed the turnover for Tomcar in the 2016-17 financial year was $4.65 million, despite previous reports that the companys turnover was just under $10 million.…
Technology is the king in modern times. Things which were considered unimaginable are happening in split of seconds. Disruptive technologies are challenging the way we think, visualize and implement the things. Digital printing, blockchain technology, artificial intelligence, APIs are the things that will rule in the years to come and legal system cannot afford to…
Can retail billionaire Solly Lew save Myer? Myers survival in its current form must overtake all other concerns and become the main focus for all who have a stake in the outcome. Whether its largest shareholder and second-largest supplier, Lew’s Premier Investments, wins the battle to control its board is of secondary importance. Retail king…
But they should be looking whether this makes financial sense. The New Myer strategy is in tatters, and the company is rudderless. Its chief executive Richard Umbers has left the building, following closely on the heels of finance chief Grant Davenport, and the recently installed chairman Garry Hounsell has torched his credentials by having backed…
DAVID WALKER/STUFF Southern Boundary Wines director Rebecca Cope. A North Canterbury wine company facing charges alleging fraud concerning wine production, has been placed in liquidation. The Waipara-based company, Southern Boundary Wines Ltd, and its directors have filed not guilty pleas to all charges and elected trial by jury in a case that will be considered…
ROCKHAMPTON civil and minesite construction company Busby Contracting Pty Ltd has gone into voluntary liquidation owing more than $2 million to creditors, employees and the tax office. The decision to wind the company up came at a general meeting held in Brisbane on February 5. Busby Contracting Pty Ltd had been involved in mines including…
In its offer, AMIPL set out a detailed industrial plan for the debt-laden steel maker to address its operational issues and to improve its performance and profitability. ArcelorMittal on Monday said that its subsidiary ArcelorMittal India Pvt Ltd (AMIPL) has submitted an offer for Essar Steel India Limited in line with the corporate insolvency resolution…