How to tell if your business is insolvent

Has Coronavirus made your business insolvent? Here’s how to tell

As coronavirus continues to sweep across Australia, lockdowns and restrictions have brought intense financial strain upon thousands of businesses, with many facing company liquidation. Because continued restrictions like social distancing have made it almost impossible for any business to escape the pandemic’s effects, it is more important than ever to know how to tell if…

BC Iron shuts Pilbara Mine

BC Iron shuts Pilbara Mine Iron ore miner BC iron has announced that it will be shutting its Pilbara mine as a result of poor commodity prices. Hundreds of jobs are at risk after the company confirmed that it will suspend production at its Nullagine operations. The suspension is set to come into effect during…

International IT company enters voluntary administration

International IT company enters voluntary administration Altech computers, a company with offices and warehouse in Hong Kong, Brisbane, Melbourne, Sydney, Adelaide, Perth, and Auckland has collapsed into voluntary administration. The business was established in 1997, was featured in BRW’s Fast 100, and was named Microsoft’s Australian distribution partner of the year in 2008. According to…

Dick Smith falls out of ASX200

Dick Smith falls out of ASX200 S&P Dow Jones made a statement on Friday regarding the Dick Smith’s future in the ASX200.  It was confirmed that the company would be removed from the ASX200 after close of trade on the 18th of December. Dick Smith has taken action after writing down the value of its…

Macquarie Bank cops criticism for ‘get rich quick’ pitches

Macquarie Bank cops criticism for ‘get rich quick’ pitches The bank is the target of customer backlash for allegedly failing to convey the risks and complexity of their financial products to unsophisticated investors. Financial advisor and self-described ‘Dream Maker’ Peter Spann has been accused of aggressively mass-marketing Macquarie structured investment products between 2006 and 2009…