Bondi-based fashion retailer Tuchuzy has gone into voluntary administration. The store, which was founded in 1995 by Daria Sukic, is known for stocking international and Australian designers such as Anine Bing, Alexander Wang, Mara & Mine, Rag & Bone and Saint Laurent. Sukic cites the compounding issues of bushfires, a difficult retail environment and coronavirus…
The Daniel Wellington flagship store on Auckland’s Queen Street which opened in June 2019 and the Newmarket store closed permanently on 28 May. Posted June 12, 2020 | By Arabella Roden Assistant Editor The New Zealand subsidiary of Daniel Wellington was liquidated on 28 May 2020 less than two years after it was incorporated due…
In India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is… In India, the Corporate Insolvency Resolution Process (hereinafter referred to as CIRP) is governed under the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as Code). Insolvency laws in India provides for an expeditious settlement of insolvency cases, protecting the interests of…
STUFF Tourism businesses fear job losses could surpass 100,000. Tourism businesses owed $3m by online travel agency Aoliday NZ Ltd have forced the company into liquidation. Administrator Grant Thornton had recommended 130 creditors accept Aoliday’s offer to pay $284,000 while it chased up a major debtor in China. But representatives from major operators such as…
Virgin Australia says it will double domestic capacity by early July as state border restrictions ease and demand grows, joining rival Qantas in adding a significant number of flights. Virgin, the country’s second-biggest carrier, entered voluntary administration in April, owing nearly $7 billion to creditors, but has been flying a limited government-supported network during the…
THE company who had expressed interest in the proposed Kingaroy coal mine went into voluntary administration yesterday. The Moreton Resources board of directors appointed Deloitte Financial Advisory’s Grant Sparks and David Orr as administrators of the group. An urgent assessment of the group’s business and financial position will be undertaken to determine the business’ future…
THE VIRGIN AUSTRALIA FLEET SITS IDLE AT AIRPORTS. When Virgin Australia Holdings Ltd went into voluntary administration towards the end of April a casualty of the COVID-19 pandemic members of Virgin Australias Velocity Frequent Flyer program may have thought that their points were safe. Velocity Frequent Flyer Pty Ltd (VFF) is a distinct company from…
Peak body Equestrian Australia has been placed in voluntary administration by its board in a bid to avoid insolvency. In what has been described as a “difficult decision, Equestrian Australia says the move follows the withdrawal of funding by Sports Australia – reportedly due to due to poor governance – and the impact of COVID-19…
Carillion announced its first profit warning on 10 July 2017. At the time, I was scheme secretary to a board of 16 trustee directors and a company-appointed trustee of a trust-based defined contribution (DC) plan. Although it would be a further six months before the company was placed in liquidation, it was at this point…
June 10 (Reuters) – Moreton Resources Ltd: * CO & UNITS HAVE ENTERED VOLUNTARY ADMINISTRATION * APPOINTED GRANT SPARKS AND DAVID ORR OF DELOITTE FINANCIAL ADVISORY PTY LTD AS ADMINISTRATORS OF GROUP * ADMINISTRATORS TO UNDERTAKE URGENT ASSESSMENT OF GROUPS BUSINESS & FINANCIAL POSITION TO DETERMINE FUTURE OF BUSINESS & ASSETS Source text for Eikon:…