Brett McGrath, President of the Law Society of NSW, has renewed calls for a debt relief scheme to incentivise lawyers to practice in rural, regional, and remote (RRR) areas. During a visit to Lismore, which experienced a significant exodus of lawyers following the devastating floods in 2022, McGrath highlighted the urgent need for legal services…
DetailsThe global economy avoided what could have been a systemic debt crisis during the turbulence of recent years, but vulnerabilities remain amid high debt servicing costs that pose an important challenge for low and middle-income countries. Some may yet confront major tests. When countries do falter on debt, restructuring is critical to containing the damage.…
DetailsSeveral of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
DetailsAdvertorial ARYZAs new head of corporate insolvency, Tom OConnor. Aryza, a leading provider of financial software solutions, announces the appointment of Tom OConnoras its Head of Corporate Insolvency. With an extensive career spanning over a decade in the insolvency sector and a proven track record in product development and client engagement, Tom brings invaluable experience…
DetailsInsolvency professionals warn the Tax Office is using DPNs and legal action to take a “far more aggressive” recovery stance. The ATO is hellbent on chasing down $34 billion worth of debts owed by small businesses using director penalty notices (DPNs) and legal action, insolvency professionals say. Insolvency Australia (IA) members said that recent activity…
Details25 Jun 2024 4 min read The latest insolvency statistics for May 2024 for company and individual insolvencies have been published on 18 June 2024 for England and Wales. This comes just before the announcement on 19 June 2024 by the Office for National Statistics, that UK inflation fell to the Bank of Englands target…
DetailsMay 23, 2024 6.02pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Luxury Australian fashion brand and favourite to the stars, Dion Lee, entered voluntary administration on Thursday. Antony Resnick of insolvency firm dVT Group has been appointed administrator to the…
DetailsIn short: Childcare group Precious Cargo has gone into voluntary administration. Founder and director Cheryl Shigrov says seven operating childcare centres are affected in South Australia. A further four non-trading entities are in liquidation. What’s next? She says the childcare centres will remain operational until a buyer is found. A Montessori childcare chain that has…
DetailsDarlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the Darlo has been a mainstay of Australian theatre for three…
DetailsAbove: Sule Arnautovic from Salea Advisory Access Print Solutions, Graphic Print Group (GPG) and Graphic Web in Sydney and Adelaide are now for sale after entering voluntary administration with 50 employees affected. Sule Arnautovic from Salea Advisory has been appointed voluntary administrator for the three businesses by the directors of the business. Arnautovic is a…
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