Shaun Barton: Noticing early warning signs to prevent business insolvency – The Business Magazine

It is an unfortunate fact that many companies will find themselves facing financial or operational challenges at some point in their life cycle. Often times this is due to situations that are out of the control of the companys directors and management team. Things such as a changing marketplace, shifting consumer expectations, the loss of…

GDK Group collapses into liquidation owing $45m, 30 staff sacked on the spot | news.com.au Australia's leading … – news.com.au

All employees at a Sydney joinery and manufacturing business heavily involved in corporate and commercial construction have lost their jobs and the firm has ceased to trade. On Friday morning, 30 cabinet makers rocked up to the Wetherill Park factory of GDK Group expecting work as usual. But just 15 minutes earlier news.com.au had revealed…

A Supreme Court ruling has given personal insolvency a fresh start in India | Mint – Mint

The introduction of corporate insolvency under Indias Insolvency and Bankruptcy Code (IBC), 2016, was a watershed moment. It transformed the debtor-creditor relationship in India. Till August 2023, 26,518 applications for the insolvency resolution of companies with defaults on debt worth 9.33 trillion were withdrawn before their admission, according to data from the Insolvency and Bankruptcy…

Reality star Teddy Briggs's luxury car to be sold to pay debts after business goes into liquidation – ABC News

Liquidators will sell reality TV star Teddy Briggs’s prized Mercedes-Benz as part of their efforts to claw back more than $600,000 owed to creditors ranging from government agencies to disgruntled customers of his controversial online business.  The former Love Island and Celebrity Amazing Race contestant placed his business Teddy Briggs Co into liquidation in November.…

Full-steam Ahead for Mainland-Hong Kong Cooperation Mechanism to Recognise and Assist Insolvency Proceedings … – Mayer Brown

The pilot measure for mutual recognition and assistance of insolvency proceedings between the courts of three pilot areas in Mainland China and Hong Kong was agreed in mid-2021, which is known as the Cooperation Mechanism. Since then, liquidators in Hong Kong have had a more certain and structured route to seek, through Hong Kong Court,…