The recent collapse of Supie highlighted the limited options employees have when businesses fail. Fixing the Companies Act would be a good place to start. When independent supermarket startup Supie went bust last month the companys 120 employees were told they wouldnt be paid for their last two weeks of work, or receive any of…
Four lawyers, including two directors, of Singapore law firm Kalco Law have left to launch a disputes-focused boutique in the city called Fortress Law. The new firm, which focuses on civil and commercial disputes, criminal defence litigation, insolvency and family law work, will be led by directors James Ow Young, Trent Ng and Mark Yeo.…
An Australian renovation company has collapsed into liquidation leaving customers and tradespeople millions of dollars in the red. Melbourne-based kitchen and bathroom renovation company, Ultimate Kitchens & Bathrooms was handed over to liquidator Stephen John Michell on October 31. Consumer Affairs Director Nicole Rich on November 1 issued a warning to consumers after receiving customer…
Nov 14, 2023 12.24pm Wealth manager E&P has reached a $16 million settlement deal for class action proceedings over alleged conflicted and misleading advice brought by Shine Lawyers on behalf of former clients of its Dixon Advisory business. There is no admission of fault attached to the settlement. Alan Dixon, then managing director and CEO…
McGill and Partners launches new corporate insolvency solution | Insurance Business UK We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy Professional Risks McGill and Partners launches new corporate insolvency solution It is designed to be incorporated into…
By Olivia Day For Daily Mail Australia Published: 15:30 AEDT, 13 November 2023 | Updated: 16:11 AEDT, 13 November 2023 A construction company specialising in bespoke aluminium doors and windows has collapsed, owing almost $900,000 to creditors. Black Sand Windows Pty Ltd, based … Read the full article at: https://www.dailymail.co.uk/news/article-12740987/Black-Sand-Windows-Pty-Construction-company-suddenly-collapses-liquidation-owing-900k-Customers-complain-unfinished-work.html
Nov 12, 2023 3.39pm Mike Cannon-Brookes Sun Cable venture has begun discussions with the federal governments $15 billion National Reconstruction Fund about support for a cable-manufacturing plant in Tasmania. The venture, owned by the software billionaires Grok Ventures since an ownership shake-up forced by a decline into voluntary administration, is proposing to manufacture the specialist…
Indian banks have traditionally used personal guarantees of company promoters as insurance to offset limited institutional recourse to debt recovery. A personal guarantor stands surety through a legal contract. Based on early experience of the Insolvency and Bankruptcy Code, GOI in 2019 brought personal guarantors into its ambit. It allows financial creditors to invoke personal…
The Insolvency and Bankruptcy Board of India (IBBI) on 18 September notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023. This introduces a set of amendments to the regulations governing the insolvency resolution process for corporate entities in India. To facilitate smooth conduct of corporate insolvency…
Customers of a collapsed building firm have been left fuming after airing out their concerns to the master franchisor months ago but being turned away. Last Friday, news.com.au reported that Western Australia-based RPH Australia Pty Ltd with the trading name GJ Gardner Perth West had gone into liquidation. The exact amount of its liabilities remains…