A Melbourne family are celebrating the news their builder has gone bust, finally giving them hope of finishing their partially-built home. Last Friday, Melbourne-based bespoke building company Avra Group (Aust) Pty Ltd collapsed into liquidation. Its a relief for David Favretto, 45, and his family, who have been in limbo all year as they waited…
DetailsLast weeks interim report by the Labor governments Universities Accord review was politically packaged, and presented by the media, as a call for greater student participation and equity. But its central thrust is a fundamental restructuring of universities to satisfy the requirements of the corporate elite and preparations for war. Jason Clare, Australian Labor government’s…
DetailsWildlife lovers have been asked to dig deep and donate to a beloved marine park forced into voluntary administration, in a last-ditch effort to keep the business alive. Dolphin Marine Conservation Park in Coffs Harbour, one of only two facilities that take in and care for injured dolphins in Australia, has called for urgent support…
DetailsTrouble-plagued builder Modco Residential has gone into voluntary administration blaming unprecedented industry challenges and intense media scrutiny. Director Damien Clancy said in a statement released on Monday that it was a moment of profound sadness for the fledgling company that was launched to great fanfare less than two years ago. Cynthia Lu and Yusuf Khan…
DetailsMany Australians approach tax time with a cautious optimism, expecting that at the end of all the collating and calculating there will be some kind of refund. But some Aussies are coming to the stark realisation that not only are they not receiving a refund for the 2022/23 financial year they actually owe the Australian Taxation…
DetailsLearn about debt and how to stay out of it with these helpful debt quotes! In simple words, debt is an amount of money an individual or a company borrows from a lender (individual or institution). You might also like these related articles: A debt is borrowed for a particular time, and the borrower is…
DetailsIf youre feeling overwhelmed by debt and having trouble keeping up with payments, its smart to take a breath and consider all of your options. While many people consider debt settlement as an easy way out, this strategy isnt guaranteed and has a major impact on your financial health in the following years. What is…
DetailsPaul OsborneAAP Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly and needs a major overhaul. That is the conclusion of a long-running inquiry into the system by the federal parliament’s corporations and financial services committee released on Wednesday. Premium Subscribers with digital access can view this article. Already a subscriber?…
DetailsThe West Australian exclusive Embattled builder Modco Residential will enter into voluntary administration, issuing an emotive statement blaming industry challenges and the media for the collapse. By appointing GTS Advisory, Modco is likely avoiding a forced administration, with at least two unpaid creditors seeking to wind up the company in a legal matter that was…
DetailsThis year is seeing steady pick-up in companies being placed into liquidation, whilst the number of companies enquiring about SCARP has significantly increased since April 2023, according to Tom Murray, director at Friel Stafford. Murray is an insolvency practitioner with over 25 years of experience and has acted as liquidator, receiver and examiner for over…
Details