Category Archives: Bankruptcy

SmileStyler, backed by Melbourne-based businessman Paul Docherty of BRC Capital, may have operated insolvent for 18 months: McGrathNicol

Administrators of troubled dental supplier SmileStyler have found the company backed by Melbourne-based businessman Paul Docherty may have been trading while insolvent for at least the last 18 months, subject to further investigations. The findings are contained in a preliminary report to creditors filed with the Australian Securities and Investments Commission (ASIC) on January 12.…

UK synth company Modal Electronics declared insolvent and goes into administration

UK Government records indicate that UK synth manufacturer Modal Electronics has gone into administration.  Records on Companies House show that the last time Modal filed accounts was in 2021, and that it was declared insolvent and went into administration on 8 September 2023.  From its budget Craft and Skulpt synths through to the high end…

Former Man City star once worth millions ‘has just £2 in bank account’ after being declared bankrupt

A former Manchester City player is now living off benefits with just £2 left in his bank account, according to reports. Pep Guardiola’s side are currently at the height of their powers. Following a historic treble winning season in 2022/23, City are now in prime position to secure another Premier League trophy this season. As…

Project Coordination (Australia) Creditor Update

About a quarter of projects that were at various stages of construction at the time 50-year-old building company Project Coordination (Australia) Pty Ltd went into voluntary administration have taken steps to restart operations.  The status of the company’s current building projects was among a range of updates Company Administrator RSM Australia Partner Jonathon Colbran shared…

ASX Wolf fine: Australian Influencer Tyson Scholz bankrupt | The Northern Daily Leader

“The individuals who paid Mr Scholz for his tips, to attend seminars or access private online forums, as well as those individuals who purchased shares based on his recommendations or statements of opinion, did not have the benefit of these protections.” Read the original article here

Builder Mahercorp stops paying debts amid unauthorised side deals

Home builder Mahercorp, which entered administration in April last year owing $75 million and emerged from it in June, has halted agreed repayments to some creditors in a move that blows the lid on unauthorised side deals that may be used to get support for the restructure of an insolvent company. Melbourne-based Mahercorp, which sells…

These Airlines Have Gone Bankrupt This Year- But Why?

Which passenger airlines have gone bankrupt this year so far? We look at what went wrong, the remaining fleet and years in operation. Aeromar ATR 42 Aeromar: ( Mexico, 1987-2023) When Aeromar declared bankruptcy they stated it had not been able to recover from financial difficulties stemming from the global downturn in travel caused by the…

ASX Wolf fine: Australian Influencer Tyson Scholz bankrupt | Mandurah Mail

“The individuals who paid Mr Scholz for his tips, to attend seminars or access private online forums, as well as those individuals who purchased shares based on his recommendations or statements of opinion, did not have the benefit of these protections.” Read the original article here