In 2023, we saw an increase in both voluntary administration and receivership appointments in Australia. In the context of Australia’s economic climate this was unsurprising debtor companies were grappling with volatile markets, supply chain disruptions and uncertain economic conditions, and secured lenders were invoking either or both of these regimes as a means of protecting…
East Imperial, the New Zealand producer of ultra-premium mixers, has been forced into rescue discussions that will probably see it fall into liquidation or administration. The company, which is listed on the London Stock market, has been unable to meet the recall of a 2m+ convertible note. At the end of last week East Imperial…
By Lisa Edser For Daily Mail Australia Published: 14:21 AEST, 15 April 2024 | Updated: 14:51 AEST, 15 April 2024 A building company that completed projects at Taronga Zoo and Hayman Island has gone into voluntary administration. NSW-based company Viridi Group has found itself i… Read the full article at: https://www.dailymail.co.uk/news/article-13308317/Viridi-Group-goes-voluntary-administration-NSW-based-construction-company-multi-million-dollar-contract-suspended.html
An Off Ya Tree location in Melbourne CBD’s Collins Street. Source: Google Maps The business behind alternative clothing, body piercing, and former bong retailer Off Ya Tree has fallen into liquidation, as the retail chain assures customers a dozen stores will remain operational. Con Kokkinos of insolvency firm Worrells was appointed as liquidator for Thendro…
A major NSW construction company has been forced into administration as a result of the temporary suspension of a government contact worth millions, putting 115 jobs at risk. Viridi Group has operated since 2020 and worked on a number of high profile projects including InterContinental Hayman Island Luxury Cabins, Cranbrook School redevelopment, Lismore emergency flood…
A company involved in the construction industry has gone bust leaving it $2.5 million in debt. Melbourne-based company MadeCo, which was responsible for kitchen manufacturing, went into voluntary administration with 30 employees impacted. Its failure has left 70 creditors left with unpaid debts including $620,000 owed to employees for annual leave, long service leave and…
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Captain GR Gopinath‘s Deccan Charters till April 26, 2024, its next date of hearing. Earlier, the Bengaluru bench of the National Company Law Tribunal (NCLT) had directed initiation of Corporate Insolvency Resolution Process (CIRP), admitting a plea of financial creditor Krone…
Your Questions Answered At our webinar on 2 July 2020 we examined the impact of the CIGA for corporates engaged with third parties who might enter into an insolvency process. We have put together this question and answer sheet responding to the questions raised which, together with our quick guides, will help corporates understand the…
The future of popular alternative retailer Off Ya Tree is uncertain following the collapse of its parent company and the recent closure of multiple stores. Thendro Pty Ltd went into liquidation on April 11 according to documents filed with the Australian Securities and Investments Commission. Con Kokkinos from insolvency company Worrells has been appointed as…