An IT distribution company that has operated for almost 20 years has collapsed into voluntary administration. Altech Computers was established in 1997 and has offices and warehouses in Sydney, Melbourne, Brisbane, Adelaide, Perth, Auckland and Hong Kong. The business featured in BRWs Fast 100 for several years between 2004 and 2006, coming in at number…
DetailsOne of the of the nations top insolvency lawyers yesterday urged the Turnbull government to go further in its business law reforms that are aimed at encouraging entrepreneurs to have a go. Arnold Bloch Leibler partner Leon Zwier, backing central planks of the governments insolvency reforms in its innovation statement, said the new protections would…
DetailsMining company Venture Minerals has applied to the Supreme Court to wind up the Tasmanian environmental group Tarkine National Coalition (TNC), on the grounds of insolvency. In the Supreme Court this morning, lawyer Shaun McElwaine said his client, Venture Minerals, had the consent of a liquidator and intended to advertise the matter in local…
DetailsThe new insolvency trading provisions proposed as part of the governments innovation package this week are a win for investors, but also a win for small to medium enterprises. For the government, there is no question the reforms will have the desired effect of encouraging a cultural shift towards sensible risk-taking and a have a…
DetailsBench offers limited and unidimensional explanations to petitioners queries The Supreme Court judgment upholding the new Haryana panchayat law, which limits the voters freedom to choose his own candidate in a participatory democracy, offers limited and unidimensional explanations to questions and issues raised by parties in court. The judgment by a Bench led by Justice…
DetailsKUALA LUMPUR: A total of 6,741 Sarawakians were declared bankrupt between 2010 and Oct 31 this year, the Dewan Negara was told yesterday. Minister in the Prime Minister’s Department Nancy Shukri said from the total, 2,371 of them are between the age of 35 and 44 years old. “1,983 cases or 29.42% involved those aged…
DetailsPublishing tycoon Robert Maxwell died after falling off his yacht in 1991 He left his widow Betty and seven children laden with nothing but debt Family members have lurched between controversy, financial disaster Daughter Isabel is latest victim of curse after declaring herself bankrupt By Sanchez Manning for The Mail on Sunday Published: 11:35 EST,…
DetailsInternational IT company enters voluntary administration Altech computers, a company with offices and warehouse in Hong Kong, Brisbane, Melbourne, Sydney, Adelaide, Perth, and Auckland has collapsed into voluntary administration. The business was established in 1997, was featured in BRW’s Fast 100, and was named Microsoft’s Australian distribution partner of the year in 2008. According to…
DetailsDick Smith falls out of ASX200 S&P Dow Jones made a statement on Friday regarding the Dick Smith’s future in the ASX200. It was confirmed that the company would be removed from the ASX200 after close of trade on the 18th of December. Dick Smith has taken action after writing down the value of its…
DetailsMacquarie Bank cops criticism for ‘get rich quick’ pitches The bank is the target of customer backlash for allegedly failing to convey the risks and complexity of their financial products to unsophisticated investors. Financial advisor and self-described ‘Dream Maker’ Peter Spann has been accused of aggressively mass-marketing Macquarie structured investment products between 2006 and 2009…
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