A tradie left hundreds of thousands of dollars out of pocket from a building firm going bust is calling for greater protections for subcontractors to spare him more financial pain. For Tasmanian electrician Kyle Skipworth, at any given moment, he is usually owed around $500,000 in unpaid debts from several builders. But as building companies…
Isabel McMillanNCA NewsWire Wildlife lovers have been asked to dig deep and donate to a beloved marine park forced into voluntary administration, in a last-ditch effort to keep the business alive. Dolphin Marine Conservation Park in Coffs Harbour, one of only two facilities that take in and care for injured dolphins in Australia, has called…
Data from the Insolvency and Bankruptcy Board of India (IBBI) shows that as of June 30, 2023, over 65 per cent of the ongoing corporate insolvency resolution cases have extended beyond 270 days. In the previous quarter, the IBBI reported that 64 per cent of the ongoing corporate insolvency resolution cases had extended beyond 270…
All 14 employees at a plumbing company have lost their jobs on the spot just weeks before the firm appointed liquidators. News.com.au can reveal that JL Plumbing & Drainage (VIC) Pty Ltd went under last Friday. Liam Bellamy of insolvency firm RRI Advisory was appointed as the liquidator. The business, based in Victorias Mornington Peninsula,…
Over 65 per cent of the ongoing corporate insolvency resolution cases have been continuing for more than 270 days as on June 30, according to data with the Insolvency and Bankruptcy Board of India. This is a notch higher than 64 per cent of ongoing cases continuing beyond 270 days in the previous quarter. As…
Victorian home builder Harmac Group has today joined the long list of construction companies in financial strife in 2023, with Shaun Matthews and Barry Wight of restructuring advisory firm Cor Cordis appointed as voluntary administrators. The appointment relates to four of the group’s subsidiaries – Harmac Homes, Harmac Constructions, Harmac Urban Living and Ridge Homes. Other entities in the…
Building project management company Exel Infragroup Pty Ltd collapses: Lead contractor on a multimillion dollar Victorian government project goes into liquidation Construction company Exel Infragroup Pty Ltd has collapsed Victorian-based business owes over $4.2million to 83 creditors By Olivia Day For Daily Mail Australia Published: 11:41 AEST, 21 August 2023 | Updated: 16:22 AEST, 21…
A BFT gym in action. Source: Supplied Australian-born gym franchise Body Fit Training (BFT) has announced new expansions into Hong Kong, Malaysia, and Spain, making customer gains as competitors like F45 adjust to trying market conditions. The chain opened its first Hong Kong franchise this month and has recently sold its first two franchises in…
The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was…
A surprise month-on-month fall in the number of corporate insolvencies in England and Wales does not reflect current tough trading conditions, with the number of struggling businesses in the region likely to rise significantly over the next year. This is according to the Midlands branch of the UKs insolvency and restructuring trade body R3 and…