Atlas Advisors Australia The economic impact of significant falls in migration as a result of COVID-19 could be offset by restructuring the Business Innovation and Investment Program (BIIP), leading wealth manager Atlas Advisors Australia says. Executive Chairman Atlas Advisors Australia, Guy Hedley said an anticipated 85 per cent fall in migration in the 2020-21 financial…
A PRELIMINARY report has found Illawarra Hawks Proprietary Limited was $2.4 million in debt when placed into administration in April, with players and staff owed an estimated $750,000 in entitlements. They are among the revelations in the report prepared by administrator Michael Jones, which shows the club suffered losses of more than $1.6 million in…
Virgin Australia captain George Kailis has been flying planes for almost 20 years, but fears for himself and his co-workers as the company looks likely to enter into voluntary administration. Key points: Virgin Australia is on the edge of insolvency, with about $5 billion in debt Pilots want the Federal Government to step in with…
Maja Garaca Djurdjevic 29 April 2020 2 minute readShare The government should consider extending the six-month moratorium protecting directors whose companies are trading while insolvent in order to safeguard smaller- to medium-sized businesses, a senior commercial disputes lawyer has warned. Last month, the federal government enacted temporary measures to avoid unnecessary insolvencies and bankruptcies in…
New Delhi: Pre-packaged corporate insolvency resolution plan will help expedite resolution process for stressed assets as well as reduce the number of insolvency-related cases before the National Company Law Tribunal (NCLT), according to experts. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution framework. An insolvency resolution has to be approved…
Whats new: CEFC China Energy Co. Ltd., the fallen energy and financial conglomerate controlled by secretive tycoon Ye Jianming, has been declared bankrupt by a Shanghai court, according to a ruling (link in Chinese) dated March 31 and published Friday on an enterprise bankruptcy information disclosure platform set up by Chinas Supreme Peoples Court. In…
Melbourne Rebels Reece Hodge trains in isolation while Super Rugby is shutdown Picture: AAP Raelene Castle said she could not see the advantages for Rugby Australia to go into voluntary administration, although it might depend on nations leaving in place severe international travel restrictions that would prevent a return to the status quo of Super…