John Winter, CEO of the Australian Restructuring Insolvency and Turnaround Association: Firms “well aware there are busy times ahead”. The temporary insolvency relief measures have cut work in the area to the extent that “55 per cent of insolvency firms remain on JobKeeper themselves“, said John Winter, the CEO of the Australian Restructuring Insolvency and…
Hundreds of thousands of dollars in compensation will be paid to a group of grey nomads and retirees after a Queensland motorhome dealer was found responsible for causing them financial loss. Key points: The Queensland Office of Fair Trading is awarding nine motorhome owners a total of $700,000 Beth Stephensen says it was “like Christmas”…
Luxury fashion brand alice McCALL has now gone into voluntary administration, sadly following a long line of retailers that have had to shut up shop due to COVID-19. Fashion designer behind the brand Alice McCall herself gave a statement to 9News discussing her need to edit down the business and rework into a more sustainable…
During the worst recession Australia has seen in almost 100 years, you would think financial counsellors would be bombarded with calls. You’d be wrong. Despite the sharp economic downturn from the coronavirus pandemic, the phones are quiet. Financial counselling services are trying to encourage people across the country, especially in Victoria, to get ahead of…
Washington With President Trump refusing to acknowledge President-elect Joe Biden’s victory and continuing to falsely declare himself as the winner of the White House, the president and his campaign are soliciting donations from supporters for an “election defense fund” designed to “defend the integrity” of the election. But the fine print shows that the full…
When the owners of a luxury resort-style estate on the NSW Hawkesbury River decided to sell, they asked agent Deb Cullen for her opinion of when would be the right time. Right now, the co-principal of agency Cullen Royle said immediately. At the moment, were seeing a huge upswing in demand for lifestyle properties since…
10 November 2020: Proposed legislation which places certain conditions on connected person sales in administration is very much under the spotlight. Will the proposed regulations solve the perception problem? A framework in which companies can be rescued or dissolved but endeavours to preserve jobs and look out for creditors is intrinsic to doing business. COVID…
RIGA – The Restaurant Association has submitted a number of proposals to the government that is currently working on support mechanisms for the hospitality industry during the Covid-19 pandemic, which suggest partial compensation for a fall in catering companies’ turnover and reducing the value added tax for the industry for at least eighteen months after…
November 09, 2020 07:30 ET | Source: Credit Counselling Canada TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) — With the country teetering alarmingly on the edge of a financial crisis, Canadas leading accrediting body for non-profit credit counsellors has released a Bill of Rights for Canadians in Debt. Credit Counselling Canada has identified major structural gaps…
In this note, we consider whether contracts provide any remedies, focussing on standard forms typically used in the region, and what happens when only the parent company of a contractor enters into insolvency. We also explain what an employer needs to know about insolvency of a contractor under UAE law and touch on the impact…