Thai Airways will resort to the country’sBankruptcy Act to enter a sweeping “rehabilitation” plan following the government’s refusal to extend a bailout package to the trouble’s flag-carrier. In a statement issued to media, the Star Alliance member – whose domestic and international flights remaingrounded by the coronavirus pandemic said theThai Cabinet had approved a reform…
Hertz declared bankruptcy on May 22, carrying $US19 billion in debt. The iconic car rental company told its landlords days before that it would not pay them rent for the next six months, according to a letter reviewed by Business Insider. Its the latest example of a big-name corporation asking building owners, many of whom…
In a claim describing Salim Mehajer as one of Australia’s most disliked people, a high-profile defence lawyer says a Sydney gossip column made out she sleeps with clients and unfairly exposed her to ridicule for her manner of dress and weight. The May 2019 article featuring a picture of Mr Mehajer and lawyer Zali Burrows…
Hertz declared bankruptcy on May 22, carrying $US19 billion in debt. The iconic car rental company told its landlords days before that it would not pay them rent for the next six months, according to a letter reviewed by Business Insider. Its the latest example of a big-name corporation asking building owners, many of whom…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
In a claim describing Salim Mehajer as one of Australia’s most disliked people, a high-profile defence lawyer says a Sydney gossip column made out she sleeps with clients and unfairly exposed her to ridicule for her manner of dress and weight. The May 2019 article featuring a picture of Mr Mehajer and lawyer Zali Burrows…
Preventative composition is available to companies that do not meet the bankruptcy test under the Bankruptcy Law, but which wish to obtain the court’s assistance in settling debts and trade out of their indebtedness. If the courts accept an application for preventative composition, the company’s debt obligations will be suspended and the court will appoint…
QUEENSLAND’S mining services capital of Mackay and its resources resurgence have taken a hit with a longstanding local company going into voluntary administration. Ricbuilt Heavy Industries, a leading engineering company with a strong reputation in the mining services sector, owes creditors more than $2 million. Administrator Frank O’Neill from insolvency firm SV Partners said Ricbuilt’s…
National restructuring and insolvency firm Jirsch Sutherland has strengthened its Brisbane office with two new senior hires. Melissa Lau has joined Jirsch Sutherland as a partner, having previously worked as a director at Rodgers Reidy, a firm similarly dedicated to turnaround and recovery management. Before that, Lau was a senior manager in at Baker Tilly…
Tuesday, May 26, 2020 On 20 March 2020, the UK Government published itsCorporate Insolvency and Governance Bill(the CIGB). When enacted, the new legislation will see the most extensive reforms to the UKs restructuring and insolvency regime in more than 15 years. The CIGB introduces both (a) permanent reforms and (b) temporary reforms specifically designed to…