Member Article Businesses have been given much needed breathing space during the Covid-19 pandemic with the governments extension of insolvency measures until 2022. Mitchell Charlesworth corporate recovery partner, Jeremy Oddie, and associate, Julie Webster, discuss the announcement. The government announced that it is extending the powers it has under the Corporate Governance and Insolvency Act…
DetailsAccording to an EY letter dated December 29, the scope of work included contingency planning analysis that would estimate a range of what return financial creditors may get from the sale of Arriums assets. It was my understanding it was a tool to be used in negotiations with lenders, Mr Bakewell told the court. To…
DetailsThe Australian operations of Greensill Capital officially ceased at 5pm yesterday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm. It is understood Greensill Australia employed about 40 staff, based mainly in Sydney, who were advised of their retrenchments with immediate affect yesterday. Parent company Greensill Capital filed for…
DetailsIts been a whirlwind year for Australian swimwear brand Jets. In May last year, when its former parent group PAS went into voluntary administration, its future was up in the air. But within three months, rival brand Seafolly acquired it and by the end of year, Jets had relaunched online. Here we chat with Jets…
DetailsThailands Central Bankruptcy Court has granted low-cost carrier Nok Air a one-month extension to file its rehabilitation plan. In a 15 March stock exchange disclosure, Nok chief Wutthiphum Jurangkool says the court allowed the carrier up to 15 April to submit its business restructuring plans. The troubled carrier had asked for a deadline extension, citing…
DetailsHowever, unions argue the reforms will entrench the permanent casual and some crossbenchers have raised some concerns about the reforms. Mr Winter noted the well founded view that many businesses faced a back-pay liability from the rulings if they employed a casual for more than a single shift in the past six years, even if…
DetailsBusiness U.S. Treasury Secretary Janet Yellen will meet on Tuesday with Jubilee USA Network, a non-profit group that advocates for debt relief for developing countries, and senior religious leaders from large U.S. Christian and Jewish faith groups. FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends an economic briefing with U.S. President Joe Biden in the…
Detailsnews, local-news, Canberra, Canberra Airport, Virgin Australia, Travel, Coronavirus Virgin Australia has reopened its lounge at Canberra Airport as the airline expects domestic travel to strengthen. Canberra’s lounge is the last of the airline’s seven to reopen after they all closed on March 24, 2020, right before the airline entered voluntary administration. A Virgin Australia…
DetailsThe opportunity to be included in a local ag tech precinct has led to one of the region’s largest names in agriculture pulling the pin on a proposed three-storey development. Greensill Farming have withdrawn an application lodged with the Bundaberg Regional Council for an office building in Qunaba but say the timing has nothing to…
DetailsAdvertisement: The fifth oldest airline in the world, Czech Airlines, has been declared bankrupt in Prague last week. The airline is in debt to 266 creditors, mostly suppliers, and 230,000 passengers who are awaiting refunds for canceled flights. The total debts equal $82 million. Czech Airlines is now officially bankrupt. Photo: ERIC SALARD via Wikimedia…
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