From family operations to national firms, COVID-19 has made things tough for Australian businesses. Thousands have been forced to reduce their business hours, cut down on staff or shut down completely. As the global pandemic causes revenues to fall despite the unstoppable march of bills and expenses, one word becomes more prominent for businesses that…
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Contents1 How to tell if your business is insolvent2 One or two indicators3 Two or more indicators4 Acting after identifying indicators of insolvency As coronavirus continues to sweep across Australia, lockdowns and restrictions have brought intense financial strain upon thousands of businesses, with many facing company liquidation. Because continued restrictions like social distancing have made…
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Contents1 Company and personal details2 Company asset summary2.1 Companies entered external administration across Australia 2019-202.2 New South Wales2.3 Victoria2.4 Queensland2.5 Western Australia2.6 South Australia2.7 ACT2.8 Northern Territory2.9 Tasmania3 Liabilities4 Books and records5 Insolvency checklist – A snapshot6 Company details7 Company asset summary8 Liabilities9 Books & records10 Things to remember when preparing for company liquidation11 Winding…
DetailsLe Chteau seeks creditor protection pursuant to the CCAA to ensure a responsible, controlled and orderly liquidation of its assets MONTRAL, Oct. 23, 2020 /CNW Telbec/ – Le Chteau Inc. (TSX VENTURE: CTU) (“Le Chteau” or the “Company“) filed today an application (the”CCAA Application“) pursuant to the Companies’ Creditors Arrangement Act (“CCAA“) seeking protection of…
DetailsCould a regional turboprop operator once said to never, ever be able to turn a profit become Malaysias next national carrier? Thats the question confronting senior management at Malaysia Airlines, with the carriers fate again thrust into the spotlight after acknowledging the deep impact the coronavirus outbreak has wrought on its fortunes. Malaysia Airlines had…
DetailsOctober 22, 2020 10:00 ET | Source: BW Offshore The Board of Directors of BW Umuroa Pte. Ltd. (BWU), awholly ownedsubsidiary of BW Offshore, has today resolved to place BWU into voluntary liquidation. BWU is the owner and operator of the FPSO Umuroa which is presently located on the Tui oil field offshore New Zealand.…
DetailsOctober 23, 2020 02:00 ET | Source: Chrysalis VCT plc Chrysalis VCT plcLEI: 2138009FVDWULSIOX40423 October 2020Update on preparation of proposals for Company to commence a VCT winding up period On 21 August 2020, the Company announced that the Board was preparing formal proposals to be put to Shareholders for approval for the Company to commence…
DetailsKPMG is looking at reshaping its business (pic: KPMG) Big Four accountant KPMG is considering a sale of its restructuring arm as the major players seek ways to reshape their businesses in the face of regulatory and economic pressure. A sale is seen as part of a wave of deals that could be imminent as…
DetailsLisa Browning, a business professor at the University of Saint Mary in Leavenworth, offers advice on how to select and use credit cards to achieve your financial goals, while avoiding going into credit card debt. PHOTO COURTESY OF LISA BROWNING Credit is easy maybe too easy. With just the swipe of a card, you are…
DetailsLondon Mayor Sadiq Khan London Mayor Sadiq Khan has called the UK governments demand thatTransport for London (TfL) increase fares and expand the congestion charge zone ill-advised and draconian. The Mayor also accused Boris Johnson of lying to parliament over the UK Prime Ministers claim that TfL was effectively bankrupt even before the start of…
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