Australian Small Business and Family Enterprise Ombudsman Bruce Billson interview with Stephen Cenatiempo. Radio 2CC Canberra Subjects: Insolvency and small business; help for small businesses needing support Stephen Cenatiempo When it comes to businesses, some of the statistics are quite sobering. There’s been a 20% increase in queries from small businesses struggling to manage their…
Popular jewellery and bag companies Colette and The Daily Edited have fallen into voluntary administration, as their umbrella company Marquee Retail Group tries to salvage their business during cost of living pressures. MRG, which owns the popular accessory brands Colette by Colette Hayman and The Daily Edited, stated the business had suffered from the unplanned…
Marquee Retail Group, the owner of accessory brands Colette by Colette Hayman and The Daily Edited, has appointed a voluntary administrator after failing to save both brands from collapse. The company said in a statement it plans to keep all 60 stores open while in voluntary administration and has no intention to reduce its 400…
Synopsis For countries that have adopted, and implemented in local legislation, the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency (Model Law), there is a streamlined process which enables a liquidator, or other insolvency administrator, of a company in a foreign jurisdiction to apply to the court in the Model…
1 Further comprehensive and independent review The Committee recommends that the government commission a comprehensive and independent review of Australia’s insolvency law, encompassing both corporate and personal insolvency, as soon as practicable, and progress several other near-term actions as identified in the executive summary. 2 Further consideration of appropriate principles and objectives of insolvency law…
Ahmedabad: The National Company Law Tribunal (NCLT) on Monday admitted a corporate insolvency resolution process (CIRP) against a Bus Rapid Transport Service (BRTS) contractor, Khurana Engineering Limited, while acting on a petition filed by Power and Instrumentation (Gujarat) limited under the Insolvency and Bankruptcy Code, 2016.Power and Instrumentation (Gujarat), a company located near Iskcon crossroads…
A popular music festival has collapsed after being unable to pay its debts. Last Wednesday, the NSW Supreme Court ordered ITP Music Pty Ltd to go into liquidation, The business traded under the name NYE In The Park and was behind a popular end of year celebration that operated in Sydneys CBD. At its peak,…
An Australian tech company backed by one of the largest banks is on the brink of collapse after appointing administrators at the end of last month. Plutora Pty Ltd went into voluntary administration in March over a dispute with the tax office and has more than $37 million in liabilities. The business continues to trade…
ASIC has detailed three company liquidation notices in New South Wales today. There have been 335 in total this month. Sydney Exotic Aquariums Casula Pty Ltd (In Liquidation), ABN: 15649148014, Main Business Location: NSW 2000, Notice Date: March 28, 2024, Liquidator: Peter Paul Krejci Knickknack Percolate Pty Ltd (In Liquidation), ABN: 98603900107, Main Business Location:…
ASIC has detailed three company liquidation notices in New South Wales today. There have been 335 in total this month. Sydney Exotic Aquariums Casula Pty Ltd (In Liquidation), ABN: 15649148014, Main Business Location: NSW 2000, Notice Date: March 28, 2024, Liquidator: Peter Paul Krejci Knickknack Percolate Pty Ltd (In Liquidation), ABN: 98603900107, Main Business Location:…