Parts of multi-billion dollar developer Caydon, which is behind hundreds of apartments in melbourne, have gone into liquidation. Joe Russo, managing director of the prominent Asian-backed developer, said the company had been dealt one difficult market situation after another in the last few years, including prolonged Covid lockdowns. The latest “confronting” challenge was pricing factors…
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ASIC has cancelled the Australian financial services licence of sydney advice firm Crown Wealth. The firm was authorised from 28 March 2017 to provide advice to retail and wholesale clients about products including superannuation, securities, deposit and payment products, interests in managed investment schemes and life products, and to deal in those products. ASIC said…
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A succession of market hits over the past few years has combined with the latest inflationary pressure on the construction industry to claim another high-profile victim with liquidators appointed to part of melbourne’s Caydon Group. Hong Kong-based financier OCP Asia called in receivers to subsidiaries of Caydon Group, after liquidators were appointed to the company…
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Independent craft brewery Ballistic Beer Co has called in the administrators, as the award-winning Queensland company attempts to restructure its operations. As first reported by The Crafty Pint, Ballistic Beer Co, based in Salisbury, Queensland, this week appointed administrators from PKF melbourne to handle its affairs. A notice published by the Australian Securities and Investment…
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A melbourne-based building company has collapsed with approximately $1 million in outstanding debt owed to 50 creditors, according to the liquidators. The construction firm called Blint Builders Pty Ltd went into voluntary liquidation after news.com.au revealed a number of homeowners were experiencing a “horrendous” amount of stress as they had poured hundreds of thousands of…
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Popular fashion retailer Colette by Colette Hayman has been placed into voluntary administration. Founded in Australia in 2010, Colette By Colette Hayman operates across 140 stores in Australia and in New Zealand and sells bags, jewellery and accessories. There are 15 stores in WA.Credit: Westfield. There are 15 stores in Western Australia, and the business…
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The Big Picture People Store at South Morang g in Victoria, has been placed into liquidation with debts in excess of $1.2M. Part of the Big Picture Group the business was placed into liquidation back in April 2023, the liquidators are melbourne based Cor Cordis. According to Mitchell Cordis from Cor Cordis the unsecured debts…
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Australians have reacted with shock and confusion to the news that a beloved beer brewing company has collapsed into administration. On Tuesday, brisbane’s popular Ballistic Beer Company went into voluntary administration, according to a filing lodged with ASIC. The firm, which is one of Queensland’s best-known independent brewing companies, has appointed Jason Stone and Paul…
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Asked about his financial difficulties, Doherty told The Sunday Age that postponing the event four times, after restrictions forced him to shut the 2020 event one week after the melbourne grand prix was cancelled, had cost him $1.6 million. Loading “It’s pretty hard to recover from,” he said. “It is correct that the pandemic devastated…
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The administrator for the financially stricken melbourne Rebels has recommended creditors accept a proposed deal to save the club, adding it may have been trading while insolvent for the last five years. The Rebels went into voluntary administration in January with Rugby Australia (RA) taking over their competition licence and covering player and staff payments…
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