The number of Australian construction companies hitting the wall continues to soar, with almost 1,400 businesses collapsing in the second half of 2023. The latest numbers released this week by the corporate regulator, Australian Securities and Investments Commission (ASIC), revealed that 29 per cent more companies folded than in the same period in 2022. Overall…
DetailsKPT Restructuring, a new national restructuring and business advisory has entered the market, established in Sydney by Ozem Kassem, Jonathon Parker and Jason Tang. A trio of Cor Cordis partners Ozem Kassem, Jonathon Parker, and Jason Tang have broken away to launch their own consultancy KPT Restructuring, which will provide distressed businesses with restructuring, advisory…
DetailsAustralian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency. Simon Cathro, Managing Partner at Cathro & Partners, said that the launch of the new offering comes in response to growing demand for personal insolvency work, at a time when the number of companies and…
DetailsFiling under the Companies’ Creditors Arrangement Act (“CCAA”) will enable the Company to restructure its financial affairs and emerge as a stronger entity Contemplated sale and capital injection will enable Black Press to continue serving readers, advertisers and other valued stakeholders SURREY, BC, Jan. 15, 2024 /PRNewswire/ – Black Press Ltd. and certain of its…
DetailsProperty developer Michael OFlynn has failed in a bid seeking to have the legal costs of his High Court battle over the personal insolvency agreement of his former business partner John ODriscoll paid by the personal insolvency practitioner (PIP) in the case. But the legal battle between the Cork developer against the personal insolvency arrangement…
DetailsEnergy and natural resources company Ascent Resources updated the market on recent developments related to its joint venture partner Geoenergo on Monday. The AIM-traded firm said that, after petitions from Ascent Slovenia, the relevant court declined to approve Geoenergo’s application for self-declared insolvency. In response to Geoenergo’s initial application for insolvency, Ascent said it quickly…
DetailsFish and shrimp processing equipment manufacturer Norbech has been sold after the company declared bankruptcy in December 2023. Norbech was founded in 1986 as Uni-Food Technic by Bjarne Normann Jensen. The companys products include bleeding tanks, de-heading machines, de-slimers, de-scalers, and more essential equipment for the fish and shrimp processing industry. The company transitioned from…
DetailsHanmi Science, the holding company of Hanmi Pharm, announced a significant restructuring, welcoming OCI Group as its major shareholder and establishing a joint management system. OCI Holdings became the largest shareholder of Hanmi Science, the holding company of Hanmi Pharm, and seeks joint management and synergies in pharma and renewable energy sectors, The move, made…
DetailsThe World Banks Women, Business, and the Law Index has documented a persistent gender pension gap in rich and poor countries alike. This is partly because of gender-based legal disparities, such as a lower mandatory retirement age for women and the lack of pension credit for periods of childcare. Because women have shorter working lives, earn less, and have…
DetailsRapplers Life and Style section runs an advice column by couple Jeremy Baer and clinical psychologist Dr. Margarita Holmes. Jeremy has a masters degree in law from Oxford University. A banker of 37 years who worked in three continents, he has been training with Dr. Holmes for the last 10 years as co-lecturer and, occasionally,…
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