NextGen Financial Group has formally entered into liquidation after losing a Federal Court case regarding an unpaid Australian Financial Complaints Authority (AFCA) determination. Following a hearing, a notice from ASIC stated that Joseph Loebenstein of Victoria-based Loebenstein Insolvency Services has been appointed as liquidator by order of the court. The firm is now in liquidation,…
The Ghana Association of Restructuring and Insolvency Advisors (GARIA) has unveiled the maiden edition of the Corporate Insolvency and Restructuring Journal, marking a significant step forward in enhancing thought leadership in the business framework space in Ghana. Ghana’s journey towards an improved business environment has been punctuated by key legislative milestones, including the enactment of…
Competition Authority is the enforcement authority for India. Read their profile For the first time in its history, the Competition Commission of India (CCI) has a woman chairperson in Ms Ravneet Kaur, who was appointed in May 2023. She will also be the first chairperson to have a full five-year term which is a welcome…
Canadian Association of University Teachers OTTAWA, Nov. 22, 2023 (GLOBE NEWSWIRE) — The Canadian Association of University Teachers (CAUT) welcomes yesterdays announcement in the Fall Economic Statement that the federal government will amend the Companies Creditors Arrangement Act and the Bankruptcy and Insolvency Act to exclude public universities and colleges. The Liberal government has made…
By Wayne Robinson | 24 November 2023 Peter Wagener has had to put all his display print companies in liquidation, but has vowed he will be back next month, after paying all his suppliers in full. Returning in December: Peter Wagener To cap a drama-filled week, which Wagener described as “ridiculous” the liquidation itself is…
Small businesses made almost 4,000 complaints to AFCA in the last financial year, up 9 per cent, and won more than $23 million in compensation and refunds, the authority says. Disputes over business loans the leading cause of friction actually fell slightly but there were marked increases in complaints over commercial property (up 36 per…
A Geelong-based company owned by Geelong businessman David Collard has been wound up over allegations it owes more than $100,000 in debt. A court has ordered Sanitex Global Pty Ltd be placed in liquidation and denied a request by the companys solicitor to postpone the case, to allow Sanitex to repay money alegedly owed. Judicial…
It is with great regret and sadness that we report on the appointment of a liquidatior to Peter Wagener’s group of companies. We have been aware of the voluntary administration since September – and the herculean effort by Wagener and his team to restructure and exit VA. However, the cancellation of a commercial lease has…
The National Company Law Tribunal has extended the Corporate Insolvency Resolution Process (CIRP) of the cash-strapped airline Go First by 90 days till February 4, 2024. The Committee of Creditors (CoC) said the six-month moratorium period ended on November 6. On October 17, it passed a resolution to extend the resolution process by 90 days.…
New Delhi: The National Company Law Tribunal (NCLT) on Thursday granted Go First airline a 90-day extension for its Corporate Insolvency Resolution Process (CIRP), now effective from 6 November to 4 February, as the bankrupt carrier seeks to revive its operations. The tribunal has asked the resolution professional (RP) overseeing Go First’s insolvency to submit…