A new document filed with the corporate watchdog reveals fallen construction and development giant Grocon has more than $90 million of loans outstanding to executive chairman Daniel Grollo and his wife Katherina and entities he ultimately controls. The revelation comes ahead of the crunch second creditor meeting later this month that will decide the fate…
Former Sargon Capital founder and CEO Phillip Kingston has broken his silence on a cascade of extraordinary events that put into receivership the high-profile superannuation fintech a year ago following actions by one of its creditors a Chinese state-owned insurance company China Taiping (~A$100 million). Phillip Kingston. Source: Facebook Sargon Capital had reportedly been attempting…
The Greensills have snapped up more than $40m of land in the Bundaberg region over the last five years as they expanded their agricultural operations into one of the biggest in the state. The acquisitions have allowed the Greensills to expand their broadacre production of sweet potatoes, peanuts and cane to gain lucrative supply contracts…
Half-priced airfares have been quite the topic of conversation over the past 24 hours, with the Australian Government announcing a scheme that’ll see the country’s airlines sell 800,000 flights at the discount rate. That starts in April but if you’re keen on getting away before then, Virgin is doing a flash sale that’ll also slash…
The federal government has announced six part-time appointments to its insolvency and disciplinary committees. The federal government on Thursday announced six new appointments to its insolvency practitioner registration and disciplinary committees, each for a three-year period. Both committees are regularly convened by ASIC on matters related to liquidator registration applications and disciplinary matters. Among the…
THE management of Greensill Farming says the collapse of Greensill Capital will have no impact on the Bundaberg-based farming operation. In a statement issued to Queensland Country Life, Greensill Farming says it is independent of Greensill Capital. “The Greensill Farming business operates entirely independently of Greensill Capital,” the statement reads. “The current negotiations regarding the…
THE management of Greensill Farming says the collapse of Greensill Capital will have no impact on the Bundaberg-based farming operation. In a statement issued to Queensland Country Life, Greensill Farming says it is independent of Greensill Capital. “The Greensill Farming business operates entirely independently of Greensill Capital,” the statement reads. “The current negotiations regarding the…
Australian Treasury The Morrison Government has appointed Ms Julie-Anne Berry, Ms Natalie Bhardwaj, Ms Virginia Christie, Mr Sergio Freire, Mr Damian Mitsch and Mr Stephen Parbery as part-time members of the Insolvency Practitioner Registration and Disciplinary committees, each for a three-year period. The Australian Securities and Investments Commission convenes these committees to make decisions on…
Jetstar will bring more of its jets back home from Japan to boost its domestic fleet as it faces a delay of up to two years in the delivery of its new Airbus A321neo aircraft. The budget Qantas subsidiary was set to receive the first of the new single-aisle, long-range variant A321neo jets in August…
AN emergency meeting has been held with Greensill Farming staff on Wednesday morning, following parent company Greensill Capital being placed in voluntary administration earlier in the week. Despite the seemingly extremely bleak outlook for Greensill Capital, farm staff from the company’s Bundaberg and Wallaville operations are understood to have been told it’s farming as usual,…