A major Australian property group has gone into voluntary administration, in another blow to the construction industry. Bensons Property Group announced on Friday that its team made the “difficult decision” to appoint Craig Shepard and Sebastian Ham of Korda Mentha as voluntary administrators of the business. BPG was founded in 1994 by Elias Jreissati and…
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A popular NSW music festival, hosted over New Year’s Eve, is on the chopping block after it fell into liquidation. NYE In The Park, held in sydney’s CBD, has entered a court-ordered liquidation, according to a recent ASIC listing. The long-running festival held at Victoria Park has previously hosted popular acts including Flight Facilities, San…
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Brisbane tow truck company owner Dominic Holland has told his staff they are out of work because he is placing the impoundment arm of the business into liquidation. Mr Holland and his firm tow.com.au have been locked in a court battle with the Queensland Government and the liquidation announcement comes less than a fortnight after…
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A perth-based wireless earbud company, voted one of the best inventions of 2020, has appointed a voluntary administrator. Nuheara announced to the ASX it had been expecting a $2.5 million investment known as a convertible note from audio company Realtek Semiconducter Corporation that did not eventuate. It was also expecting a commercial and royalty agreement…
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Australian luxury fashion retailer Harrolds, renowned for attracting celebrities and showcasing some of the world’s most prestigious designers, has entered liquidation leaving behind debts of $16 million. The company, which operated for nearly 40 years, was placed into liquidation in early October. Founded in 1985, the company opened its first store in melbourne and became…
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Mr Speziali said news of the liquidation of Areva Solar KCP in November had forced him to lay off seven workers and the litigation had reduced his business overall by about a third. In good times, the company employed about 60. He said his experience should be a wake-up call for Australian businesses contracting with…
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Club Rose Bay in sydney’s eastern suburb has entered into voluntary administration. According to Australian Securities and Investments Commission documents, the long-standing RSL club appointed Hugh Armenis and Jason Lloyd Porter of SV Partners as administrators on 15 August, before a first meeting with creditors was held on 27 August. Despite this, the club went…
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Sydney-based liquor wholesaler Gateway Liquor has gone into liquidation following a meeting of company members this month. Clifford Sanderson and John Gibbons from Dissolve were appointed as Joint and Several Liquidators, but a timeline for the process has yet to be established. Gateway Liquor operates exclusively in Sydney, Southern Highlands, and the Central Coast, delivering…
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A building company has collapsed into both liquidation and receivership just days out from Christmas owing $3.7 million to hundreds of creditors. Queensland-based Casa Building Group Pty Ltd, which is headquartered in Brisbane and also has an office in Townsville, appointed voluntary liquidators this Tuesday. On Friday, Andrew Quinn and Domenico Calabretta of insolvency firm…
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Two popular venues in melbourne have gone into voluntary administration as teams work to find a way to keep the “much-loved, iconic” venues afloat. Tracey Lester, the owner of the companies behind the Carlton Club and the Windsor Castle Hotel, has hired Cor Cordis administrators Rachel Burdett and Shaun Matthews to restructure the financial affairs…
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