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Queensland’s government has put a politically-connected cybersecurity business into insolvency within six months of it winning a state contract to run a $15 million safety program. Cryptoloc Holdings’ liquidation was executed this month in the Supreme Court after failing to repay $1.51 million demanded by the state for money already advanced, the ABC can reveal.…
He explained that due to the “steady erosion of people’s financial resilience” due to the cost of living crisis and Covid-19, increasingly people coming to StepChange are in a “negative budget”, which is where their income isn’t enough to meet their essential needs. “At the moment, roughly one in three people who come to us…
Worst postcodes in Victoria for bad debt revealed Herald Sun Read the original article here
The unprecedented policy support deployed during the COVID-19 pandemic allowed nonfinancial corporations in many jurisdictions to navigate the pandemic shock relatively well. At the same time, the synchronised global monetary policy tightening cycle that started in early-2022 (recently reversed by several central banks) does not seem to have significantly affected corporates’ financial performance. Nevertheless, the…
The resolution process for debt-laden Jaiprakash Associates Limited (JAL) has moved forward with the Resolution Professional (RP) publishing the final list of 25 eligible Prospective Resolution Applicants (PRAs). This follows the initial submission of Expression of Interests (EoIs) by 26 entities. Notably, the final list, prepared in accordance with the Insolvency and Bankruptcy Board of…
Brisbane-based creative agency Khemistry has re-entered the market as an independent entity following the liquidation of its former parent company, GrowthOps. The agency, known for its impactful behaviour change campaigns, had been part of GrowthOps for seven years before the parent company’s insolvency led to its closure earlier this month. An agreement in principle has…
Restructuring and Turnaround Strategy Consulting EY Read the original article here
The stock, which is under Rs 20, is Alok Industries . As its promoter, Reliance Industries owns 40.01 per cent stake in the company. Reliance and JM Financial ARC acquired Alok Industries back in 2019 under the corporate insolvency resolution process. JM Financial Asset Reconstruction Company Limited has 34.99 per cent shareholding in Alok Industries.…
Biotech Execs Seek Ch. 15 Pause Pending Trustee Removal Law360 Read the original article here