Provisional liquidators of South African regional carrier SA Express are attempting to find a buyer for the airline, claiming that they are engaging with six or seven parties which have expressed interest in the company. Their effort follows court approval on 15 June to extend their powers, in order to explore the possibility of attracting…
Construction disputes expert Lawrence Davies of Pinsent Masons, the law firm behind Out-Law, said the eagerly anticipated decision means that contractors can expect to receive a significant increase in adjudications brought by insolvent sub-contractors, especially in light of the economic difficulties many companies in the construction industry are likely to face as a result of…
The ASC letter, formally announcing both the withdrawal of funding which forced the sport into voluntary administration and the transfer of its high performance program to the AIS, points out EA has received $13 million in grants in the past four years. It is our view, the letter states, it is the fundamental structure of…
Australian designer fashion retailer has fallen into financial hardship, forcing the company to go into voluntary administration. The Sydney-based retailer is working with experts from consulting firmMcGrathNicol to get the company back on track, said Tuchuzy founder Daria Sakic. She founded the retailer in 1995, and under her wings the company grew into one of…
Monday, June 15, 2020 Part One The Corporate Insolvency and Governance Bill (the Bill) is passing through parliament at the moment. Some of the measures included in the Bill are in response to the current pandemic and will provide temporary easements for company directors from an acute economic downturn. Other measures have been under consideration…
Matt Blatt has closed its doors, with customers accusing the copa. This comes as Kogan acquired the companys assets in mid-May for $4.4 million. Matt Blatt has collapsed, leaving some customers out of pocket. This comes after Kogan acquired some of the business assets for $4.4. million in mid-May. Some of these customers are said…
More than 3,000 customers owed money by the failed replica-furniture chain Matt Blatt are set to receive nothing, even though the company reaped more than $4.4m by selling assets in the weeks leading to its collapse. Customers, some of whom are owed more than $1,000, were informed of the collapse by text message a fortnight…
MONEY gathered for charitable community causes may instead be put towards settling with unsecured creditors, following the liquidation of a partner company. The Somerset Regional Council has hosted Mayoral Gala Charity Balls for several years, with the aim of creating a fund that could be used by people and groups in the community. In 2017,…
Equestrian Australia has said it will ensure requirements are met to nominate athletes for the Tokyo 2020 Olympic and Paralympic Games after the national governing body entered voluntary administration. The organisation entered voluntary administration following the withdrawal of funding by Sport Australia, who had slammed Equestrian Australias governance and raised concerns over welfare of participants…
June 12, 2020 13:38 ET | Source: Novelion Therapeutics, Inc. VANCOUVER, British Columbia, June 12, 2020 (GLOBE NEWSWIRE) — Novelion Therapeutics Inc. (Novelion or the Company) by Alvarez & Marsal Canada Inc., Novelions court appointed liquidator (the Liquidator) today provides an update on the Companys voluntary liquidation process (the Liquidation) that started on January 16,…