Troubled trucking and logistics firm McAleese has gone into voluntary administration, saying it is insolvent or likely to become insolvent. The move comes after the firm’s financiers, led by high-risk debt investor SC Lowy, pulled the pin on a deal struck in early June to recapitalise the company because it did not meet the…
Womens clothing retailer Seduce has entered voluntary administration and its Australian bricks-and-mortar stores have closed, just weeks after being hit by a wind-up notice from its landlord. Administrators from Deloitte were appointed to Seduce Pty Ltd on August 16, with Michael Billingsley and Neil Cussen acting as joint administrators. Billingsley and Cussen were subsequently appointed as…
A JUDGE will decide in the coming weeks whether or not a proper environmental order was given to Linc Energy founder Peter Bond earlier this year, directing him to clean up an underground gas project site near Chinchilla. The Queensland Department of Environment issued Mr Bond with the environmental protection order in May, stating it…
Stand-alone clubs Collingwood, Footscray, Geelong and Essendon are set to play a major part in this year’s VFL finals series, in what is expected to be a somewhat changing of the guard. While VFL stand-alone club Williamstown won a breakthrough flag last year and Port Melbourne did so in 2011, the sudden impact of stand-alone…
SURREY-BASED insolvency and business recovery firm Gibson Hewitt has recruited a new manager from one of the UKs top four accountancy practices. Matt Hoy has joined the firm as a manager after leaving accountancy giants Deloitte, where he spent more than 15 years working with some of the UKs largest businesses. He brings with him expertise in corporate…
David Jones chief executive John Dixon and chef Neil Perry at David Jones food hall, Sydney. Source: Supplied/ Damian Shaw A new dimension is about to be added to the Myer and David Jones department store war, as David Jones gets closer to rolling out its high-end grocery store offering. The retailer increased profits 21% for…
Introduction Aims Winding-up process Timescale Missed opportunity? Comment Introduction The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 introduces important changes to the administration of the winding-up process, although it is unclear when the changes will come into force. Following on from “Key changes to winding-up and insolvency law“, this update focuses on the…
A prominent sponsor of the Canberra Raiders, and major sponsor of Hockey ACT, is in liquidation, with hundreds of thousands of dollars owed to the Australian Taxation Office. TTM Security’s name appears on the front of the Raiders jersey, above its major sponsor Huawei. A subsidiary, TTM National Corporate Group, has naming rights on Hockey ACT’s centre at…
Thursday, 25 August 2016, 1:08 pmPress Release: New Zealand Government Hon Paul Goldsmith Minister of Commerce and Consumer Affairs 25 August 2016 Media Statement Consultation on insolvency practitioner standards Commerce and Consumer Affairs Minister Paul Goldsmith has today released part one of the review into insolvency law, which discusses and sets out recommendations on the…
The telephone fundraising agency Pell & Bales has gone into liquidation with the loss of 20 full-time jobs just two months after being sold by the business processing outsourcing firm Parseq. A statement issued today by Gerry Hoare, one of the main investors who acquired Pell & Bales and its sister telephone fundraising company Pure…