ASIC has suspended the Australian financial services (AFS) licence of Probis Financial Services Pty Ltd (Probis) after it was placed into voluntary administration on 17 July 2023. The suspension includes a provision that requires Probis to continue as a member of Australian Financial Complaints Authority, with arrangements for compensating retail clients in place until the…
Construction firms across Australia are crumbling in record numbers and leaving hundreds of millions of dollars in unfinished projects. During the 2022-23 financial year, 2213 building companies went into administration, according to ASIC insolvency statistics which paint a bleak picture of the countrys housing situation. WATCH THE VIDEO ABOVE: Adelaide home buyers blindsided by construction…
Getty Images The firm of one of Wales’ most famous fashion designers who has dressed stars like Beyonc and Jennifer Lopez, has gone into liquidation. Julien MacDonald’s company hit trouble during the pandemic and officially went into liquidation on 26 July. It means employees have been sacked and liquidators have had to sell all stock.…
Aug 4, 2023 4.02pm The corporate regulator is suing a former director of collapsed wealth firm Dixon Advisory for allegedly failing to properly consider the interests of creditors, including thousands of clients. The Australian Securities and Investments Commission alleges that Paul Ryan breached his duties as a director when he made decisions the regulator claims…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
A residential home builder based in Ballarat has recently entered voluntary administration after nearly three decades in the industry. The company, Bond Homes, had a team of 20 full-time staff who have been paid their full entitlements. However, fixed contracts combined with rising materials costs and labor shortages have led to the companys downfall. Bond…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
The parent company of embattled health food brand Bounce known for its range of protein balls will have a new home, after it was bought out by another health company. Last month, documents revealed that Natural High Co Pty Ltd which operates Bounce Foods entered administration due to a heavy debt burden. But on August…
Summary CAIRE, the parent group of Air Antilles, has been placed into liquidation by the Mixed Commercial Court of Pointe–Pitre amidst strikes. The ruling means a court-appointed representative will oversee the company until a buyer is found, with a two-month continuation period granted to Air Antilles and Air Guyane. The decision has been largely welcomed…