Category Archives: Liquidation

PA Insurance Commissioner Announces Court Approval of Liquidation of Penn Treaty and American Network … – PR Newswire (press release)

Commissioner Miller said the two companies have approximately 76,000 policyholders nationwide, with 9,000 residing in Pennsylvania.  More than 98 percent of Penn Treaty and American Network’s policies are long term care insurance. Over the past several years, long term care insurance has posed significant challenges to insurers on a national level. The pricing of these…

Getting the right debt structure – North Queensland Register

Mark Bennett, head of agribusiness at ANZ, says the Australian farm debt equation is constantly evolving. AUSTRALIAN family farm debt is skewed heavily towards expanding farm businesses, with the majority of new debt growth going to businesses with loans in excess of $2 million said ANZs manager of agribusiness Mark Bennett. At the other end…

Corporate insolvency framework: Maintaining a competitive edge – Accountancy Age

Andrew Tate, president of insolvency and restructuring trade body R3, and a partner and head of restructuring at Kreston Reeves, examines the governments proposed changes to the UKs insolvency and restructuring framework, and highlights the professions concerns.  The UKs framework for insolvency and restructuring is one of the most effective in the world. Our insolvency…

Victorian building company Watersun Homes goes into voluntary administration – ABC Online

Related Story: Workers owed $1.6M after Bendigo Hospital contractor’s collapse Property owners say they feel betrayed and have lost thousands of dollars after Victorian building company Watersun Homes was placed into voluntary administration. Rodgers Reidy in Melbourne was appointed as administrator for Watersun Homes on Tuesday and said the company did…

Watersun Homes goes into administration – The Sydney Morning Herald

A home building company that at one stage sponsored the St Kilda Football team, Watersun Homes, has gone into administration with the loss of 90 jobs. The residential builder was working on about 300 homes in metro Melbourne and regional Victoria when it was voluntarily placed in administration on Tuesday. Watersun Homes was working on about…

Watersun Homes enters administration – Ballarat Courier

Watersun Homes enters administration exit UPDATE, 4pm: Insufficient funds have been cited as the reason for Watersun Homes entering into voluntary administration. Ninety full time jobs will be lost as a result of the administration process. All staff were informed today, according to a statement. Administrators are expected to contact property owners who have contracted the…

Local homebuilder goes into administration – Riverine Herald

WATERSUN Homes, which has a display site in Moama, has gone into voluntary administration today. Its Moama phone number was not answering and the companys website appears to have been taken down. Neil Mclean and Mathew Gollant of Rodgers Reidy Melbourne have been appointed as joint administrators of Watersun Homes (WSH Group P/L).  The company…

Union backs liquidation of Pumpkin Patch – New Zealand Herald

Administrators report recommends vote for liquidation. Pumpkin Patch’s history is broadly explained by the administrators as having two phases. Photo / Nick Reed A union lobbying for hundreds of Pumpkin Patch workers owed millions by the collapsed childrens’ retailer said it would vote in favour of liquidation for the company. Pumpkin Patch entered voluntary…

SME owner opens up after personal training business enters liquidation: For the first time ever I raised the white … – SmartCompany.com.au

A small business owner has opened up about the difficulties of managing cashflow in a growing business, after his personal training company Rapid Personal Training entered liquidation yesterday. Insolvency firm Hogan and Sprowles has been appointed to manage the liquidation of Rapid PT, which employs three full-time staff and 17 contractors, and has seven locations spread across Sydney and…

Rein in Serial Phoenix Company Directors: Report – Sourceable

Releasing the final report of a three-part research project aimed at determining the best methods of addressing phoenix activity, researchers at the Melbourne Law School and the Monash Business Law School have called for action across 25 areas to detect, disrupt and punish harmful and illegal activity. Under one recommendation, anyone who has been an…