Page 49 – Insolvency Advisory Accountants

Modco Residential: Glamour couple’s Yusuf Khan and Cynthia Lu’s building and construction company plunges into administration

Voluntary AdministrationBy January 28, 2025

A glamorous couple flaunted their lavish lifestyle before their building firm suddenly collapsed with some contractors claiming they are still owed money. Cynthia Lu and Yusuf Khan’s perth-based company Modco Residential announced it had entered voluntary administration on Monday. The organisation was launched in 2020 with an exclusive VIP party that was attended by Perth‘s…

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Grocon puts subsidiaries into administration over $28m spat

Voluntary AdministrationBy January 28, 2025

A dispute between two of Australia’s best-known property companies has boiled over into public after builder Grocon put two subsidiaries into voluntary administration in the middle of a court battle with Dexus over a $28 million lease claim against it by the country’s largest office landlord. Grocon executive chairman Daniel Grollo on Friday called the…

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Perth restaurateur Scott Taylor’s company owes creditors $3.5 million

Voluntary AdministrationBy January 28, 2025

perth restaurateur Scott Taylor’s company owes at least $3.5 million to creditors. Mr Taylor and his sister Angie Lee Taylor are co-directors of Element WA, the company which ran The Trustee, Beaufort Local and Enrique’s School for Bullfighting. Element WA was placed in voluntary administration on October 30. Just weeks later, the brother and sister…

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Benny Burger chain Shannon Bennett goes into liquidation Melbourne news

LiquidationBy January 28, 2025

The “ethical burger” brainchild of celebrity chef Shannon Bennett has gone into liquidation as the chain’s parent company decides to “shift priorities”. Benny Burger, which operated stores on Swan Street in Richmond and Little Collins Street in melbourne‘s CBD, will now close effective immediately. Vue Group, who owns Benny Burger and a number of Bennett…

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BrisConnections driven into receivership – ABC News

Voluntary AdministrationBy January 28, 2025

The operator of brisbane‘s AirportlinkM7 toll road has gone into receivership, after failing to reach a restructuring agreement with its lenders. BrisConnections today went into voluntary administration, with the company appointing McGrath Nicol as the administrators. The move followed an announcement in November last year that the company’s board felt the enterprise value of BrisConnections…

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The financier, the developer and the stoush that threatens 1000 units

Voluntary AdministrationBy January 27, 2025

Bensons Property Group called in administrators on the day a fund managed by Macquarie Private Bank’s former head Guy Hedley tipped the developer with a near $1.5-billion pipeline into receivership. The melbourne developer – which has total debts of about $812 million according to documents filed to the corporate regulator – went into voluntary administration…

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Fenn Foods saved by local rival after entering liquidation

LiquidationBy January 27, 2025

Fenn Foods, a Sunshine Coast-based alternative meat company with products stocked in major retailers such as Woolworths (ASX: WOW) and Coles (ASX: COL), has been given a second shot at success after being acquired by rival Smart Foods almost two weeks after entering liquidation. Founded in 20http://www.businessnewsaustralia.com/15 by Michelin star chef Alejandro Cancino, Fenn Foods –…

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Ku De Ta enters voluntary administration

Voluntary AdministrationBy January 26, 2025

“Together with power in numbers we have decided the only option is to show the company who have decided to not pay its staff and suppliers are not getting away with taking advantage of us. “I would like to thank all our supporters and suppliers and most of all all the loyal staff… you guys…

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Indian-origin building company collapses; goes into liquidation

LiquidationBy January 26, 2025

A melbourne based building company owned by an Indian-origin builder has gone into voluntary liquidation citing financial crisis. On March 20th a liquidator was appointed for S J Builders, which operates from the northern Melbourne suburb of Bundoora. “Notice is given that at a general meeting of the members of the company held on 20…

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Signex Group and Prologica Digital Print in voluntary administration

Voluntary AdministrationBy January 26, 2025

Victoria-based digital print, signage and display solutions company Signex Group and its wide format print subsidiary Prologica Digital Print have filed for voluntary administration. Signex co-owner Doug Pieper told Sprinter that the company filing for voluntary administration is a result of the sports signage supplier losing more than $1 million in signage work this year…

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