RetireAustralia says it is committed to completing the 42 independent living apartments at Tarragal Glen Retirement Village at Erina despite the building company entering into voluntary administration. Stevens Construction (NSW) Pty Ltd, a major Central Coast company, announced on May 27 it had entered voluntary administration after almost two decades in the construction industry. Described…
DetailsThe debts of a collapsed group of NSW businesses have blown out to almost $23 million, while other subsidiaries have quietly gone under in recent weeks. News.com.au reported in April that a western Sydney factory had closed down and all workers had been terminated on the spot. It comes after two companies linked to the…
DetailsAaron Salvestrin was once touted as a rising star of the industry. Photo: Sans Pareil. Griffith winemaker Aaron Salvestrin declared himself bankrupt just seven days after the Supreme Court ordered him to pay back several million dollars to creditors, an exclusive Region investigation has revealed. The 29-year-olds winery Sans Pareil Estate went into liquidation in…
DetailsA recent court case has demonstrated to trustees the withdrawal and transfer of superannuation benefits prior to declaring bankruptcy will not protect those assets from creditors claims even if they remain within the retirement savings system, according to an SMSF technical specialist. Heffron head of education and content Lyn Formica noted this outcome had occurred…
DetailsThe JetAir website is now dominated by a bankruptcy notice. Credit: jetaircaribbean.com United Caribbean Airlines, which operated under the name JetAir Caribbean, has been declared bankrupt by the courts in Curaao, the island in the Dutch Caribbean where JetAir operated from. The Court of First Instance in Willemstad, Curaaos capital, appointed C.M. van Liere and…
DetailsThe widow of underworld figure Carl Williams has been declared bankrupt by the Federal Court, after it was reportedly revealed there was almost $300,000 owing in unpaid taxes. The court on Tuesday ordered that the estate of Roberta Merieca Williams be sequestrated, following an application by the deputy commissioner of taxation. Carl Williams widow Roberta…
DetailsKey Points Bankruptcy lasts for three years but the consequences can last much longer. Bankruptcy wont release you from all your debts. Always seek the advice of a financial counsellor. Bankruptcy is a legal process that helps you regain financial control by releasing you from most of your debts. It allows you to start fresh.…
DetailsLast week I scored a trifecta, managing to upset people in three ways. First, for my supposed anti-immigration stance, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers…
DetailsThe number of Australians betting on sport has doubled in five years, and a third of spending on bets is placed by people with a gambling problem, according to new research. Roy Morgan polling of 16,000 Australians found 15.5% had bet on sport in the 12 months to March. It also revealed problem gamblers made…
DetailsCity Chic Collective CEO Phil Ryan has confirmed that the recent sale of its Avenue business will drive further restructuring actions ahead, resulting in a focused single brand and simplified operating model. This week, the group signed a definitive agreement to divest its US-based Avenue business to FullBeauty Brands for US$12 million (~A$18 million) as…
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