Cascap Advisory’s Brian Silvia. When you profess expertise in cost control, cashflow management and the sundry other indicia of insolvency, acquired during a career spanning decades, receiving a winding up notice must come as a surprise. When that notice is filed in a court by lawyers acting on behalf of the Australian Taxation Office (ATO),…
The retail group which owns the iconic Berlin department store KaDeWe and two other large luxury German shopping malls has declared bankruptcy, the corporation announced in Berlin on Monday. KaDeWe Group, part of the troubled Signa real estate empire, is 49.9% owned by Signa Retail, an Austrian-based property empire which itself filed for insolvency last…
Katie Price has arrived at the Royal Courts of Justice in London for a hearing related to her bankruptcies following her arrest at Heathrow Airport. The former glamour model arrived on foot through the main entrance wearing a beige outfit and black head covering on Friday, surrounded by photographers, ahead of a hearing due to…
The rapid surge that put construction industry insolvencies up more than one-third on their total last year is set to ease, Commonwealth Bank of Australia’s business banking head says. Australia’s largest bank watched the Australian Securities and Investments Commission’s insolvency statistics “very closely”, Mike Vacy-Lyle said. These showed property businesses were suffering from rising labour…
MILAN — La Perla’s financial troubles have reached a tipping point. According to media reports, a Bologna, Italy, court declared the state of insolvency Thursday, with judge Michele Atzori naming a trifecta of court commissioners tasked with leading the Italian subsidiary La Perla Manufacturing Srl out of the quagmire. This marks the exit of the brand’s…
How One of the World’s Oldest Hedge Funds Went Bankrupt Bloomberg Read the original article here
RetireAustralia says it is committed to completing the 42 independent living apartments at Tarragal Glen Retirement Village at Erina despite the building company entering into voluntary administration. Stevens Construction (NSW) Pty Ltd, a major Central Coast company, announced on May 27 it had entered voluntary administration after almost two decades in the construction industry. Described…
When ex-US President Donald Trump woke up on Saturday (Feb 17), his total legal debt obligations had soared to over half a billion dollars. A day before, a New York Judge ruled that he must cough up more than $350 million plus pre-judgment interest for intentional financial fraud stretching more than a decade. According to…
Aaron Salvestrin was once touted as a rising star of the industry. Photo: Sans Pareil. Griffith winemaker Aaron Salvestrin declared himself bankrupt just seven days after the Supreme Court ordered him to pay back several million dollars to creditors, an exclusive Region investigation has revealed. The 29-year-old’s winery Sans Pareil Estate went into liquidation in…
Crippling interest rates and sky-high prices of everyday items, from a bag of concrete to a cup of coffee, are behind record business insolvencies in Australia, research shows. The collapsing outlook for business, especially small companies, has been highlighted in CreditorWatch’s business risk index. In the year to May, insolvencies reached a record high of…