Sans Drinks goes into voluntary administration and closes all its brick and mortar stores Drink company goes into voluntary administration Owner insisted organisation was ‘restructuring’ By Elena Couper For Nca Newswire Published: 13:21 AEST, 22 July 2023 | Updated: 13:22 AEST, 22 July 2023
DetailsRestructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
DetailsRestructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
DetailsA popular alcohol-free beverage company has entered voluntary administration despite reassurances that it is undergoing a simple restructuring. The Non Alcoholic Drinks Co Pty Ltd, known as Sans Drinks, had administrators appointed on July 17, a report from the Australian Securities and Investments Commission (ASIC) reveals. Despite the Sans Drinks shop in Brookvale NSW closing,…
DetailsThe Luxembourg parliament has adopted an act on business continuity, restructuring and the modernisation of the bankruptcy regime (the Insolvency Modernisation Act or IMA). Before the adoption of the IMA (which should be enacted shortly) the Luxembourg restructuring framework already offered a range of (mainly consensual and solvent) restructuring options. When it comes to legally…
DetailsA study out of Finland has identified an opportunity to identify problem gambling and offer addiction support during the debt consolidation process. Unlike previous studies on the topic, it used direct data from people applying to consolidate their debts, rather than less reliable self-reported data. The study found that over half of those seeking to…
DetailsRestructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
DetailsRestructuring and insolvency partner Orla McCoy has resigned from Australian corporate firm Clayton Utz to join rival Gilbert + Tobin, just two months after another restructuring partner resigned from Clayton Utz to join White & Case. Both McCoy and Timothy Sackar have resigned but remain working at Clayton Utz before starting at their new firms.…
DetailsDisgraced gambling giant Crown used its history of egregious law-breaking to argue down the third-largest corporate fine in Australian history. Key points: Crown used huge fines already paid to try to argue down a penalty for money laundering breaches Crown told the court it would face “significant financial hardship” if the fine had to be paid…
DetailsAfter a 10-month inquiry process, on 12 July 2023 the Parliamentary Joint Committee on Corporations and Financial Services (PJC) delivered its final report on the effectiveness of Australias corporate insolvency laws. In this alert, we distil some of the key findings from the almost 400-page report and consider what future law reforms might look like. …
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