24th June 2020 The GSD has again voiced concern about the Gibraltar Governments planned joint venture with Chinas Beijing Liujian Construction Group, following reports that a Chinese-owned UK-based company specialising in modular construction has gone into liquidation. The Opposition said the development highlighted weakness in demand for modular construction and undermined Sir Joe Bossanos hopes…
Mayfair 101 has appointed Barry Wight, Darryl Kirk and Rachel Burdett of Cor Cordis as voluntary administrators to protect the IPO Wealth Fund investors from the liquidation of assets. The decision to undergo a voluntary administration process is centred on providing IPO Wealths investors with the opportunity to convene a unitholder meeting and vote on…
Ishka in Warrnambool has reopened its doors after surviving both voluntary administration and the coronavirus crisis. Business owner Toby Darvall said the Kepler Street shop, which employees eight people, would continue to trade after being placed into voluntary administration on February 20. The shop remained open for about a month until an administrator shut all…
A wholly foreign-owned enterprise (WFOE) is a common investment vehicle for foreign investors wishing to operate in Chinas manufacturing, trading, or service sector. This corporate structure offers foreign investors full ownership and the autonomy to own property, form legally binding contracts, recruit local staff, and invoice in RMB. While the challenges to setting up a…
The registration of Ms Amanda Young as a liquidator has been cancelled following a decision by a disciplinary committee that she was not a fit and proper person to be registered as a liquidator. The Committee concluded that Ms Young had improperly used her position, falsified books and misappropriated funds totalling $238,502.23 from four liquidations.…
Mayfair 101 has appointed Barry Wight, Darryl Kirk and Rachel Burdett of Cor Cordis as voluntary administrators to protect the IPO Wealth Fund investors from the liquidation of assets. The decision to undergo a voluntary administration process is centred on providing IPO Wealths investors with the opportunity to convene a unitholder meeting and vote on…
They were once the giants of Australian retail. The only places to shop. Everything you wanted, all under the one roof. Key points: QBE is Australia’s largest provider of trade credit insurance, and it will no longer cover contracts with Myer and David Jones This is because the risk of the big department stores defaulting…
Restructuring advisory firm Cor Cordis has been appointed as the voluntary administrator of Mayfair 101’s IPO Wealth Holdings. The move follows the appointment of receivers to IPO Wealth in May by Vasco Trustees after two repayments were missed. The AFR reported that these missed repayments were worth $3 million and followed the freezing of redemptions…
A Traralgon clothing and homeware retailer is praising locals for their support as it re-opens its doors after the company went into voluntary administration in February. Traralgon Ishka is trading again after the company shut its 58 stores due to the double whammy of being hit by COVID-19 in March and going into voluntary administration…
The registration of Ms Amanda Young as a liquidator has been cancelled following a decision by a disciplinary committee that she was not a fit and proper person to be registered as a liquidator. The Committee concluded that Ms Young had improperly used her position, falsified books and misappropriated funds totalling $238,502.23 from four liquidations.…