In this edition of Gilbert + Tobin’s Corporate Advisory Update, we focus on key legal developments over the last month which are particularly relevant to in-house counsel. The ACCCs recommended merger reforms: a deeper dive The ACCCs recommended reforms have several significant implications for merging parties: Regulatory conditions precedent will be required, on introduction of…
DetailsAll 14 employees at a plumbing company have lost their jobs on the spot just weeks before the firm appointed liquidators. News.com.au can reveal that JL Plumbing & Drainage (VIC) Pty Ltd went under last Friday. Liam Bellamy of insolvency firm RRI Advisory was appointed as the liquidator. The business, based in Victorias Mornington Peninsula,…
DetailsBuilding project management company Exel Infragroup Pty Ltd collapses: Lead contractor on a multimillion dollar Victorian government project goes into liquidation Construction company Exel Infragroup Pty Ltd has collapsed Victorian-based business owes over $4.2million to 83 creditors By Olivia Day For Daily Mail Australia Published: 11:41 AEST, 21 August 2023 | Updated: 16:22 AEST, 21…
DetailsNormal text sizeLarger text sizeVery large text size Parents looking to give their children a helping hand financially are sticking with helping them with a home deposit rather than with their student debt, regardless of predictions the rate of annual indexation could be high for years to come. Student debt, though indexed in line with…
DetailsA BFT gym in action. Source: Supplied Australian-born gym franchise Body Fit Training (BFT) has announced new expansions into Hong Kong, Malaysia, and Spain, making customer gains as competitors like F45 adjust to trying market conditions. The chain opened its first Hong Kong franchise this month and has recently sold its first two franchises in…
DetailsCredit/AdobeStock According to Experian, the average American consumer had more than $100,000 in debt at the end of 2022 and debt balances grew for most, regardless of their credit score. Helping consumers manage this debt from mortgages, auto loans, credit cards and more is increasingly important, especially in our current interest rate environment. What will…
DetailsShare this post: A new TransUnion (NYSE: TRU) study, Debt Consolidation in a Rising Economy found that amidst a period of growth in credit card balances and originations, consumers continue to turn to unsecured personal loans as a way to consolidate high interest credit card debt. The study examined which consumers were turning to unsecured personal loans…
DetailsA greater number of underperforming small businesses are deciding to undertake small business restructuring (SBR) plans with the ATO increasingly willing to accept proposals made as part of restructures, according to accounting firm BDO. BDO North Queensland office managing partner, advisory, Todd Kelly said that a slow uptake in the first two years after the…
DetailsThe sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was…
DetailsNEW YORK, Aug 21 (Reuters) – Goldman Sachs (GS.N) is weighing the sale of a part of its wealth business, it said on Monday, as it shifts its focus back to serving the ultra-rich and away from high-net-worth clients in mass markets. The Wall Street bank is evaluating alternatives for its registered investment adviser (RIA)…
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