Category Archives: Bankruptcy

Great Southern declared insolvent – ABC News

Australia’s largest agricultural funds manager, Great Southern Limited, has been declared insolvent. The collapsed agribusiness into voluntary administration in May with $700 million of debt. In a letter to investors this week, receivers McGrathNicol said there was no money left to meet the company’s day-to-day operating costs or make lease payments to landowners. McGrathNicol said…

ASIC warns boards to declare insolvency before it’s too late

Experts say company boards may place their businesses into voluntary administration earlier than expected, after ASIC declared it will ramp up investigations of businesses that are at risk of trading while insolvent. Experts say company boards may place their businesses into voluntary administration earlier than expected, after ASIC declared it will ramp up investigations of…