A company linked to the builder of sydney’s troubled Opal Tower will be liquidated, with creditors seeking as much as $36 million for a series of buildings in the city plagued by faults. The company, formerly named Icon Construction Australia (NSW) Pty Ltd, was placed in voluntary administration in November after slugging it out with…
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Low-cost airline Bonza has entered voluntary administration after passengers were met with signs saying their flights had been abruptly cancelled on Tuesday. People were left stranded as planes were repossessed, with vision showing them being towed from the tarmac. CEO Tim Jordan apologised as he advised all services were “temporarily suspended” while he determined the…
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A branch of a melbourne hospitality chain that has ties to several popular food and drink venues has collapsed. Legacy Hospitality Group Pty Ltd went into liquidation on October 6, according to documents filed with the Australian Securities and Investments Commission (ASIC). Andrew Knight and Sebastian Hams from insolvency group KordaMentha have been appointed as…
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Bonza has appointed a voluntary administrator to run the discount regional airline after the company behind its aircraft provider repossessed its planes in Australia leaving thousands of passengers stranded on Tuesday. Planes registered to Bonza remain grounded at the Sunshine Coast, melbourne and the gold coast after a former investment partner of the discount airline’s…
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A homeowner left financially ruined from millions of dollars worth of building defects in her apartment block is disappointed that the government has rejected her plea for early access to her superannuation. Tamara Railton-Stewart, 48, believes she has now exhausted most of her options to scrape her way out of a lifetime of debt. The…
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Fresh doubt has been cast over the future of a half-a-billion-dollar Northern Territory government project after the collapse of one of the major companies involved. Key points: A major contractor on the $515 million ship lift facility has entered administration The project has already faced delays and a $115 million cost blowout Critics of the project are…
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A popular Australian designer whose empire has been pushed into liquidation after owing more than $1 million to the Tax Office has been slammed by furious brides who fear they may lose their wedding gowns. Supreme Court Justice Paul Brereton gave sydney-based designer Johanna Johnson time to convince the court she has a plan in…
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Booktopia has entered voluntary administration after struggling with the expense of transitioning to a $12 million robot-enabled warehouse facility and to raise further funds. The Australian e-tailer began building a new highly automated customer fulfilment centre (CFC) in sydney last year in a bid to support future expansion. However, due to the CFC’s operational disruption and…
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A builder and kitchen renovations company servicing melbourne’s leafy inner-eastern suburbs have added to the growing list of construction insolvencies hitting boutique companies servicing wealthy clients. Builder Warwick Constructions went into administration in late October, followed four days later by fellow Hawthorn East-based renovations business Ultimate Kitchens & Bathrooms, when director Jeff Richards appointed a…
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Redback electrical engineer Fasil Worku (left) shows network technology delivery manager Peter Judge how to use the Redback Solar Inverter System brisbane-based battery business Redback Technologies has entered voluntary administration, with administrator McGrathNicol Restructuring seeking new investors. Related article: Redback Technologies receives $9m investment McGrathNicol has confirmed it is calling for expressions of interest for the…
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