The liquidation of a company linked to New Zealand’s only forestry-related manslaughter prosecution has stalled due to a lack of funds and non-cooperation by the company’s director, liquidators say. Paul Burr Contracting Ltd has been in liquidation since August 2015, after its sole shareholder, Paul Burr, called in liquidators. The liquidation started five days before Burr stood…
Three recruitment companies that count both small and large companies among their clients have been placed in voluntary administration amid a corporate restructure by their parent company. The companies are all subsidiaries of Rubicor Group, one of Australias largest recruitment companies, which is listed on the Australian Securities Exchange. Rubicor was founded in 2005 and…
Some observers believe the future of Australian music streaming company Guvera is in considerable doubt, following not only the recent decision by the ASX to block its plans for a stock exchange float that sought to raise as much as $300 million, but also decisions late last week to place two subsidiaries, Guv Services and…
Related Story: Massive solar-powered glasshouse in NSW set to employ refugees An ambitious project to build Australia’s largest glasshouse is now in doubt, with the business put into voluntary administration. Maria’s Farm Veggies at Williamtown, north of Newcastle, was to include a glasshouse covering 16 hectares, producing 15,000 tonnes of vegetables…
LAST WEEK, we examined the circumstances in which directors (and sometimes shareholders) can be personally liable for the debts of their company (“When are directors personally liable for corporate debt?” BT, July 4). This week, we look at a company that is insolvent (or nearly so), and how that may also give rise to a…
Civilised people dont buy gold. They invest in productive businesses, Charlie Munger, Warren Buffetts partner, said in 2012. Farmland trumps gold nuggets any day, the Sage of Omaha opined. Tell that to the markets. The gold price keeps hitting new highs following the vote on Brexit. Last week, it rose above $1,375 an ounce, up…