Highlights No reasonable prospects of being rehabilitated on its own Company has assets of $257 million, liabilities of $3.5 billion Evidence of years of account manipulation, forged papers, fictitious profits Singapore Singapore oil trader Hin Leong Trading’s restructuring or rehabilitation will only be viable if it is clubbed with other group companies under the Lim…
Details24th June 2020 The GSD has again voiced concern about the Gibraltar Governments planned joint venture with Chinas Beijing Liujian Construction Group, following reports that a Chinese-owned UK-based company specialising in modular construction has gone into liquidation. The Opposition said the development highlighted weakness in demand for modular construction and undermined Sir Joe Bossanos hopes…
DetailsA CONSTRUCTION company that billed itself as Brisbane’s premier home extension and renovation business is being wound up after going into liquidation owing more than $1 million. Total Lifestyle Builders Pty Ltd is insolvent and appointed Jarvis Archer from Revive Financial as liquidator on June 18 to wind up its affairs. Mr Archer said according…
DetailsA CONSTRUCTION company that billed itself as Brisbane’s premier home extension and renovation business is being wound up after going into liquidation owing more than $1 million. Total Lifestyle Builders Pty Ltd is insolvent and appointed Jarvis Archer from Revive Financial as liquidator on June 18 to wind up its affairs. Mr Archer said according…
DetailsPodcast: Two Cents’ Worth When Christchurch bookkeeper and business owner Lisa Cowe was declared bankrupt in 2017, it was over a $6,200 credit card debt owed to the BNZ. Cowe joined 1862 others in bankruptcy that year, many of them voluntarily making the move to clear their debts and attempt to start anew, free of…
DetailsThe UKs National Union of Students has launched a mass action aimed at getting debt relief for students whose education has been disrupted by coronavirus, as experts warn against government proposals to push back A-level exams in 2021 for school-leavers who have been affected. The NUS said it is wanted students who have faced the…
DetailsIshka in Warrnambool has reopened its doors after surviving both voluntary administration and the coronavirus crisis. Business owner Toby Darvall said the Kepler Street shop, which employees eight people, would continue to trade after being placed into voluntary administration on February 20. The shop remained open for about a month until an administrator shut all…
DetailsMayfair 101 has appointed Barry Wight, Darryl Kirk and Rachel Burdett of Cor Cordis as voluntary administrators to protect the IPO Wealth Fund investors from the liquidation of assets. The decision to undergo a voluntary administration process is centred on providing IPO Wealths investors with the opportunity to convene a unitholder meeting and vote on…
DetailsMcLaren is facing insolvency McLaren is set to go to court as part of its attempts to raise additional capital to stave off the prospect of going insolvent. The English marque has been hit hard by the COVID-19 pandemic, announcing it was shedding a quarter of its workforce in May. It is now looking to…
DetailsNORTHERN EXPOSURE NORTH Lakes, north of Brisbane, has emerged as one of Australia’s worst bankruptcy hot spots. According to figures from the Australian Financial Security Authority, the suburb in the heart of Brisbane’s mortgage belt had the highest per capita number of personal insolvencies at the end of March. The percentage was 0.096 per cent,…
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