Mackay Goodwin announces second FY24 acquisition

Mackay Goodwin and RRI Advisory have announced they will merge to meet the growing demand for quality insolvency advice as Australian businesses continue to struggle. Business advisory and insolvency expertise company Mackay Goodwin will merge with Melbourne-based company RRI Advisory. RRI Advisory is a boutique insolvency company specialising in providing insolvency, turnaround and business restructuring…

Tennis champion sentenced over bankruptcy

PA Media Boris Becker arrived at court with his partner Lilian de Carvalho Monteiro Former Wimbledon champion Boris Becker has been jailed for two and a half years for hiding £2.5m worth of assets and loans to avoid paying debts. The case centred on Becker’s bankruptcy in June 2017 resulting from an unpaid loan of…

ASIC ‘confirmed’ solvency of insolvent company paid to build Wagga public housing, Homes NSW says

NSW Housing Minister Rose Jackson says the NSW Building Commissioner is investigating Homes NSW paying an insolvent builder to construct public housing in Wagga. Photo: Facebook. The Federal Government business regulator “confirmed” a company chosen to build public housing in Wagga “was solvent” at a time it was actually insolvent, according to the NSW Government…

Infarm’s Dutch branch declared bankrupt

“Bolstering the business for the future, we’ll be sharing exciting updates soon” Recently, the Dutch branch of Infarm, which had already scaled down its activities in the Netherlands, was declared bankrupt. The vertical farming company had already been granted a deferment of payment. That suspension status has now been converted into bankruptcy. The company was…

Owner distress as companies plunge into administration

A record number of businesses have been placed into administration in the past year, an inquiry has been told, with advocates saying inflationary pressures are affecting multiple industries. Officials from Australia’s corporate watchdog told a parliamentary inquiry into the cost-of-living crisis that 11,053 businesses entered external administration in the 2023/24 financial year. ASIC commissioner Kate…