After announcing his resignation last month, then changing his mind, Family First Senator Bob Day has handed in his notice to the President of the Senate. The now-former South Australian Senator made it official via a statement, which said the major investor that had been examining his Home Australia business over the past fortnight had decided…
Every creditor of former senator Bob Day’s home building group except National Australia Bank is likely to come away with nothing, liquidators say. Liquidators for the Home Australia group met with creditors in Sydney and Melbourne on Thursday. “The information available to us suggests unsecured creditors will not receive any money,” McGrathNicol’s Matt Caddy said…
Bad news: Unsecured creditors at the Melbourne meeting of Family First Senator Bob Day’s failed home building business Home Australia were told they would receive nothing. Former senator Bob Day might have been targeted for ‘extortion’ as he tried to save his Home Australia business, according to a liquidators’ report. Mr Day first sought to…
After weeks in the wilderness, contractors and suppliers affected by the collapse of Home Australia are hoping for answers. Key points: Creditors’ meetings are being held to discuss financial situation of each Home Australia subsidiary Home Australia’s subsidiaries owe a total $37.7 million Those left out of pocket by the company’s collapse say they…
Post Newspapers Editor in Chief Fred Mmembe has come out of the woods to hit back at the High Court notice for the liquidation of the publication. Mmembe labelled the process corrupt and also said the employees in whose name the court action was taken left the company on their own accord without making any…
Alan Limb from BRI Business Recovery and Insolvency has been in touch following the closure of Ryde Arena. The Southampton Office of BRI Business Recovery and Insolvency have been instructed by the Directors of Ryde Arena Limited to assist them in placing the Company into Creditors VoluntaryLiquidation. Just a couple of weeks ago, hundreds formed…
A legal business consultancy that snapped up a host of law brands in the past two years has itself gone into liquidation, the Gazette can reveal. Assure Law Limited commenced the liquidation process last week and creditors are now being contacted with information about the companys financial status. Assure Law emerged on the legal services…
Arrium says it will create 44 new jobs at its Whyalla plant. (9NEWS) Troubled steelmaker Arrium is hiring dozens of new workers in Whyalla to keep up with rising demand for its products. The company, which went into voluntary administration earlier this year, says increasing demand from NSW and Victoria has led it to add…
Related Story: Underpaid Pumpkin Patch workers to be reimbursed A dispute around entitlements is growing at clothing retailer Pumpkin Patch, which went into receivership last week. The New Zealand-based board admitted the company was ‘over-leveraged’, and in the interest of stakeholders put the company into voluntary administration. The same day, its…
31 October, 2016 Changes to Australias corporate insolvency laws are set to come into effect in 2017 and will result in an increase of powers for creditors in external administrations. IN BRIEF Greater powers afforded to creditors will include the ability to give directions to an external administrator, request the external administrator to convene a…