The quarterly company insolvency statistics have been released, covering Q4 2023 (October to December). Since this dates the final quarter of the year, an annual summary can be noted: 2023 saw the highest annual number of company insolvencies since 1993. The total of 25,158 registered company insolvencies is broken down into: 20,577 Creditors Voluntary Liquidations…
DetailsThose who have entered the NPL status will be helped to repay their debts within five years, and the banks will reduce their interest rate to 15% per annum. Meanwhile, penalties for repaying early will also be waived for those who have entered the debt restructuring programme, Phayong added. He said customers can call their…
DetailsFormer Wallaby Phil Waugh is the Rugby Australia CEO. (Photo by Daniel Pockett/Getty Images for Rugby Australia) Rugby Australia will assist the cash-strapped Melbourne Rebels in the 2024 season. The Rebels recently went into administration. Rugby Australia CEO Phil Waugh says they are “committed to ensuring” the Rebels play Super Rugby in 2024. For more…
DetailsWA Department of Mines, Industry Regulation and Safety Building and Energy is advising property owners affected by the liquidation of FTD Construction Pty Ltd to contact their home indemnity insurance (HII) provider, QBE Insurance, if they have not already done so. The Perth building company appointed liquidators yesterday (29 January 2024). In September 2023, the…
DetailsThe Melbourne Rebels have entered voluntary administration, but will get the opportunity to play in the 2024 Super Rugby Pacific season thanks to Rugby Australias backing. ADVERTISEMENT Rumours and reports around the clubs financial status had been evolving over the offseason and ultimately, the club made the decision on Monday night to enter voluntary administration.…
DetailsThe Australian Taxation Office (ATO) has taken a haircut on $2.11 million owed by the companies behind four of Surfers Paradises biggest nightclub and dining venues after accepting an offer of about 22.5c in the dollar for the debt. The venues, owned by the Gold Coast-based Artesian Hospitality Corp, have been struggling for the past…
DetailsSydney (AFP) Rugby Australia said Tuesday it would help the Melbourne Rebels to take their place in the 2024 Super Rugby competition after the debt-laden club went into voluntary administration. Issued on: 30/01/2024 – 04:25Modified: 30/01/2024 – 04:23 1 min Advertising Read more The governing body said it would work with the appointed administrator to…
DetailsAn iconic Australian retailer known for its vacuum cleaners has collapsed into administration, with nearly 200 expected to be out of a job. Godfreys Group on Tuesday appointed voluntary administrators, citing cost-of-living pressures and inflation as the causes of its downfall. Craig Crosbie, Robert Ditrich and Daniel Walley from PwC Australia have been appointed as…
DetailsVacuum cleaner retail chain Godfreys has collapsed, with cost of living pressures blamed for fewer sales and contributing to a “challenging economic and operating environment” for the business to remain viable. Key points: Godfreys has entered voluntary administration while looking for a potential buyer for the vacuum cleaner retailer The business has struggled with maintaining…
DetailsRugby Australia chief executive Phil Waugh says the governing body will support the cash-strapped Melbourne Rebels (Saeed KHAN) Rugby Australia said Tuesday it would help the Melbourne Rebels to take their place in the 2024 Super Rugby competition after the debt-laden club went into voluntary administration. The governing body said it would work with the…
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