MARK TAYLOR/Stuff Darren Mills of Waikato Explorer Ltd at the city jetty in Hamilton earlier this year. Hes now working for wages in Wellington. Hamiltons river ferries firm is sunk financially, and had no other choice but voluntary liquidation after it failed to sell, raising questions about recent ratepayer-funded jetty upgrades. Waikato Explorer Ltd has…
Mark Lloyd (Optic Security Group) Credit: Supplied Optic Security, a trans-Tasman cyber security firm created in 2018 by rolling up existing businesses, has been sold out of voluntary administration. Optic Security Group Ltd was the 100 per cent shareholder of Optic Security Finance Group which in turn owned four New Zealand and two Australian subsidiaries.…
The collapse of century-old builder Clough has hit headlines this week, and the news appears to be weighing on the Beach Energy Ltd (ASX: BPT) share price. The oil and gas stock plummeted 4% yesterday and its down another 7.28% today, trading at $1.68 at the time of writing. For comparison, the S&P/ASX 200 Index…
The fall of Perth builder Clough into voluntary administration after more than a century in business marks the latest in a string of local builders to hit troubled waters. Key points: WA building giant Clough has entered voluntary administration The administration is being overseen by Deloitte The delivery of several bigprojects is now in doubt…
A proposed disposal by Murray & Roberts (M&R) of its Clough unit to Webuild was terminated on Monday and Clough and its subsidiaries placed into voluntary administration in Australia with immediate effect, together with the JSE-listed groups Australian holding company, MRPL. The announcement triggered a sharp decline in M&Rs shares, which were trading about 13%…
A proposed disposal by Murray & Roberts (M&R) of its Clough unit to Webuild was terminated on Monday and Clough and its subsidiaries placed into voluntary administration in Australia with immediate effect, together with the JSE-listed groups Australian holding company, MRPL. The announcement triggered a sharp decline in M&Rs shares, which were trading about 13%…
Mitsui E&P Australia and Beach Energy Ltd., joint venture partners of the Waitsia Stage 2 gas plant development program in Western Australia, will work with Deloitte to ensure the project progresses following placement of Clough, the projects engineering, procurement, and construction contractor, into voluntary administration. The move follows a decision by Cloughs owners, Murray &…
06 December 2022 Consulting.ca 2 min. read National accountancy MNP has acquired The Bowra Group, a Vancouver-based restructuring consultancy, and Kerr & Company, a Kelowna-based boutique accountancy. Financial terms of the transactions were not disclosed. MNP merged The Bowra Group into its insolvency subsidiary MNP Ltd., effective December 1, 2022. The deal adds three partners…
Controversial New Zealand money lender Moola has gone into liquidation. Receiver Rodewald Consulting has been appointed to NZ Fintech Group Holdings, Moola’s parent company. Multiple subsidiaries, including Moola, were subsequently placed into liquidation. Insolvency firm Khov Jones was appointed liquidator of the trading entities, Rodewald Consulting director Tom Rodewald told Newshub. Moola’s website is currently…
The recently announced sale purchase agreement between Murray & Roberts and Webuild for the acquisition of Perth-based engineering group Clough, has been terminated by mutual agreement between the parties. In the absence of the sale proceeding, the board of directors of Clough have decided to place Clough and its Australian subsidiaries into voluntary administration (VA)…