Personal insolvencies ease slightly in December

The latest personal insolvency statistics indicated a total of 828 personal insolvencies for December last year, according to provisional monthly statistics by the Australian Financial Security Authority. You’re out of free articles for this month Log in Sign up To continue reading the rest of this article, please log in. Create free account to get…

National Company Law Tribunal overturns insolvency order against Logix Infrastructure

The National Company Law Tribunal (NCLT) has overturned its own July 2023 decision to initiate insolvency proceedings against Logix Infrastructure. The tribunal found that the insolvency application was filed with “fraudulent and mala fide intentions” by the financial creditor, Experts Realty Professionals. This rare move highlights ongoing concerns about the misuse of insolvency laws in…

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Qld building company goes into liquidation

Up to 300 property owners have been left in the lurch by the insolvency of the Queensland-based residential construction company.  Oracle Building Corporation, which traded as both Oracle Platinum Homes and Oracle Hunter Homes, has called in administrators and entered liquidation. The company, which immediately ceased business and terminated all staff on Wednesday (24 August),…