A full liquidation plan at Canada’s oldest company could begin as soon as Tuesday and last for up to 12 weeks, but Hudson’s Bay is still holding out hope that it will find a lifeline. Lawyers for the beleaguered retailer said in an Ontario court Monday morning that if approved by the judge, the liquidation…
Prof Jason Harris, Sydney Law School One of the problems is that our insolvency laws adopt a ‘one-size-fits-all’ approach that makes little distinction between winding up a national transport company and dealing with a failed corner store business. This work must be paid for and while the former may well justify the attention of what…
melbourne sign company Aussie Signs has gone into liquidation three years after a freak accident where the collapse of a wall carrying its signage killed three people. The industrial accident resulted in a lengthy court case, and the company was fined $250,000 earlier this year for pleading guilty to an occupational health and safety act…
sydney developer Merhis Corp and a clutch of related entities have gone into liquidation owing the Australian Taxation Office at least $6 million and its director Mark Merhi has left Australia. Helm Advisory managing director Stephen Hathway said he triggered the liquidation of the 23 Merhis companies last week after they defaulted on a settlement…
In a worrying trend for the Australian business landscape, thousands of companies have vanished over the past year, and experts warn that the situation is poised to deteriorate even further. Among the casualties is E-Mersion Media, a melbourne-based tech start-up that recently went into liquidation with debts exceeding $12 million. The liquidator’s report reveals that…
A small business has been left with no other choice but to go into liquidation, partially blaming its financial troubles on society’s waning interest in building ‘authentic’ connections with each other. The Source Bulk Foods, Australia’s largest specialised bulk food retailer, has more than 60 stores all over the country. But it lost one of…
A luxury transport company has collapsed, owing millions of dollars to creditors and the tax department with workers also claiming they have been left unpaid. Brunel Chauffeur Drive and Limousines Pty Ltd went into liquidation on July 13. The company offered premium passenger transport in every state capital as well as the gold coast, the…
Several distributors are fighting to get their hands on the database of sydney-based accessories retailer and manufacturer Company Syntricate Asia Pty Ltd that was placed into liquidation last week, after a split between husband and wife shareholders. ChannelNews understands the business that turned over around $1.4 to $1.5M a month in smartphone accessories had been…
More than $600,000 is owed to suppliers and tradies caught up in the liquidation of rich-list renovator Sasha de Bretton’s Million Dollar Makeovers. Early numbers from liquidators Hall Chadwick filed with the corporate regulator list more than 70 unsecured creditors believed to be owed a total of $619,700. It includes $61,555 owed to the Australian…
Unsecured creditors of construction company York Civil are unlikely to see any returns from the business. Creditors voted unanimously to liquidate the company at its second creditors’ meeting on Monday afternoon. In a report provided to creditors, the company’s administrators, Martin Lewis and Timothy Mableson from accounting firm Ferrier Hodgson blamed York Civil’s failure on…