QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts. The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk…
THE former director of a major wedding planning company that shocked the Whitsundays when it went into sudden liquidation late last year has spoken publicly for the first time since the business collapsed. In October last year, award-winning wedding planning company, The Wedding Planners Whitsundays, was confirmed to be insolvent and unexpectedly entered into liquidation.…
Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts. The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk…
The authors had previously highlighted the UK Governments intention to introduce: (i) a number of reforms to the UKs insolvency framework; and (ii) a series of temporary changes to the corporate governance requirements for companies and other entities arising as a result of the impact ofCovid-19. In this QuickStudy, we set out the key features…
A co-operative which lays claim to producing Australia’s largest pool of certified organic has gone into voluntary administration. Organic Dairy Farmers of Australia Limited (ODFA) produces the True Organic brand of milk, butter and cream. It also supplies milk to FiveAM yoghurt, Pure Organic milk and Lemnos cheese. Worrells Solvency and Forensic Accountants were appointed…
DUBAI Phoenix Commodities, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than US$400 million (S$567 million) in potential trading losses, according a document prepared by the liquidators seen by Reuters. The business founded 20 years ago grew into a company generating US$3 billion in revenue last…
The business secretary will gain powers to extend deadlines for company filings to enable directors to focus on dealing with the impact of the COVID-19 crisis, under a package of new government measures to be unveiled this week. Sky News has obtained a summary of the eight measures to be included in the Corporate Insolvency…
ONE of the region’s largest builders has gone into administration, citing coronavirus effects, tight lending conditions and a “financially catastrophic” Brisbane project as causes of the collapse. FTI Consulting has been appointed administrator of RGD Group Pty Ltd and RGD Constructions Pty Ltd, both directed by Ron Grabbe. The major Coast builder sent written notices…
ONE of the region’s largest builders has gone into administration, citing coronavirus effects, tight lending conditions and a “financially catastrophic” Brisbane project as causes of the collapse. FTI Consulting has been appointed administrator of RGD Group Pty Ltd and RGD Constructions Pty Ltd, both directed by Ron Grabbe. The major Coast builder sent written notices…