Sony chief executive Kazuo Hirai on Tuesday hailed a years-long company restructuring as a success, but said struggles in its movie business remain a “pressing issue”. The 56-year-old company veteran was tapped five years ago to lead a major overhaul at the once-iconic company, which was suffering from huge losses largely tied to a hard-hit…
UPDATE: Diploma Group boss Nick Di Latte says the company will continue to push forward with its proposal to revive the company and provide a return to creditors, after provisional liquidators were appointed to 20 Diploma-related entities today. Justice Neil McKerracher of the Federal Court today lifted a stay on the appointment of liquidators from…
Simon Anquetil, one of the accused co-conspirators in the $165 million fraud against the Australian Tax Office, previously engaged in phoenix activity and alleged fraud as part of his role in his former IT company. EStrategy Group, which was wound up by the court in 2013 owing more than $200,000 to the ATO and American…
Wicked Travel promised the trip of a lifetime, but its gone bust leaving backpackers out of pocket. A TRAVEL agency known for its aggressive sales techniques has gone bust, leaving holiday-makers thousands of dollars out of pocket. Wicked Travel has been placed into administration, owing about $1.5 million to suppliers, customers and staff, according to…
A Federal Court judge could place Diploma Group into provisional liquidation as early as Monday following the termination of a property development deal. The administrators from accounting firm Grant Thornton have told creditors of the collapsed builder-developer claiming about $60 million that they may not get a chance to vote on the companys future Justice…
Consider corporate insolvency resolution process (CIRP). If a corporate becomes insolvent, a financial creditor, an operational creditor, or the corporate itself may initiate CIRP. As stated in its preamble, the Insolvency and Bankruptcy Code, 2016 (Code) provides for re-organisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximisation…
A BUILDING supplies company which traded successfully in Townsville for 30 years has collapsed into liquidation with debts of close to $2 million. Robert Humphreys and Moira Carter of BRI Ferrier were appointed liquidators to Nu-Lite Glass & Aluminium on April 27 and convened the first creditors meeting in Townsville this week. Mr Humphreys said…
Company running Bangor University’s ‘Food Dudes’ in liquidation 17 May 2017 From the section North West Wales Image caption The project encouraged healthy eating among schoolchildren A company which ran a healthy eating project for children is in liquidation with estimated debts of £1.2m. Food Dudes, created by Bangor University after 25 years of research,…
Image caption The project encouraged healthy eating among schoolchildren A company which ran a healthy eating project for children is in liquidation with estimated debts of £1.2m. Food Dudes, created by Bangor University after 25 years of research, featured superheroes who gained special powers by eating fruit and veg. It has been credited with helping…
Daly International, an infrastructure contractor that worked on the National Broadband Network, has called in administrators under the weight of millions in debt to unsecured creditors and employees. The infrastructure delivery company, which has offices in Australia and the UK, appointed Peter Dinoris of Artemis Insolvency on 13 April after more than 25 years in…