Dick Smith, bless it, went into receivership on January 4 and the following day tripped into voluntary administration. Across the ditch, it appeared to enter receivership and administration on the same day. Pumpkin Patch, hitting the skids after a long slide, also went into receivership and administration on the same day. This appears to be…
An official probe into the collapse of BHS has grown so complex that it is consuming one-tenth of the investigative capacity of an agency charged with disciplining rogue directors, a minister has claimed. Investigators at the Insolvency Service began looking into BHS shortly after the company filed for protection from creditors in April. The agency…
Bankrupt businessman Geoffrey Edelsten faces years of litigation in Australia and the United States, with creditors in both countries lining up to get a piece of his Victorian assets. Edelsten is being chased by more than 40 creditors , including the Australian Taxation Office, for millions of dollars. He also owes National Australia Bank, Bendigo…
The number of Scottish businesses becoming insolvent dipped almost 16 per cent quarter on quarter but rose 21 per cent year on year, latest official figures show. The Accountant in Bankruptcy (AiB), which records the number of corporate insolvencies and member voluntary liquidations logged, recorded 218 business failures in the three months to September 30,…
Bankrupt businessman Geoffrey Edelsten faces years of litigation in Australia and the United States, with creditors in both countries lining up to get a piece of his Victorian assets. Edelsten is being chased by more than 40 creditors , including the Australian Taxation Office, for millions of dollars. He also owes National Australia Bank, Bendigo…
Family First senator Bob Day’s political party is signalling he could stay on in Parliament and serve the rest of his three-year term, if a potential investor steps in to save his troubled construction company. Key points Insolvency firm says there is a lot of interest in Home Australia assets Bob Day is unlikely…
Family First senator Bob Day could face a rare High Court injunction preventing him from supporting the Turnbull government’s union-busting and same-sex marriage bills after he delayed his resignation to be present for the votes. If successful, that unprecedented legal course could be enough to stop the legislation dead, forcing the government to its plan B: a special post-double…
The government has shrugged off Labors call to reject the vote of Bob Day, who has now indicated he will stay to vote on key elements of the governments program despite announcing his intention to quit. On Wednesday the prime ministers office and treasurer Scott Morrison said that the South Australian senators vote was a…
The new bankruptcy law could come into effect by the end of the year, amid concerns that the court system may struggle to implement it effectively. The bankruptcy law was published in the countrys official legal gazette on September 29, stating that it will come into effect three months later, according to a senior Abu…
South Australian Senator Bob Day has yet to officially resign from Parliament, meaning he is still being paid and could take his seat on the Senate crossbench next month. Last Monday, Senator Day told his staff I will of course resign from the Senate after he announced that his Home Australia group was being placed…