Stuart McKinnon – The West Australian on July 5, 2016, 9:42 am Video Morning finance report – July 5 WA company insolvencies were up 21 per cent in the past year, well above the national rise of 15 per cent. Analysis and commentary by FTI Consulting revealed 1014 companies entered insolvency in the 12 months…
July 4, 2016 6:38 p.m. ET MILANBritains vote to leave the EU has produced dire predictions for the U.K. economy. The damage to the rest of Europe could be more immediate and potentially more serious. Nowhere is the risk concentrated more heavily than in the Italian banking sector. In Italy, 17% of banks loans are…
Bethany Hiatt Education Editor – The West Australian on July 5, 2016, 12:50 am Video Billionaires tough love plan for kids who wag Almost half of parents of public secondary school students failed to pay a $235 voluntary fee last year. Only two high schools and 17 primary schools out of nearly 800 public schools…
The parent company of retail brands Rodney Clark and Gordon Smith has collapsed into voluntary administration, however, the brands are reportedly continuing to operate under a license agreement. Gordon Smith Marketing was founded in 1992 and its womens clothing brands include Gordon Smith, Amoire, Hammock & Vine, Nouvelle Woman, Kiki & Lulu and Basic. The…
Individual insolvency cases will fall under Finance Ministrys purview New Delhi, July 3: The proposed Insolvency and Bankruptcy Board of India is likely to fall under the purview of Corporate Affairs Ministry. This would end the potential turf war between two Central Ministries Corporate Affairs and Finance. A senior official in Corporate Affairs Ministry told…
The move, which is subject to Parliamentary scrutiny, is in response to a review of the services funding arrangements which sought to develop a more resilient, transparent fee structure. From 21 July 2016 under the new structure the deposit and administration fee will remain. A new official receivers general fee will be introduced. This will…
A creditors meeting for Guvera’s subsidiaries has been set for Thursday July 7. Wayne Taylor Up to 150 angry creditors, who are owed about $15 million, will descend on Deloitte’s Parramatta office next Thursday for the first creditors meeting of Guvera’s subsidiaries that have been placed in administration. The July 7 rendezvous will be the first of two meetings…
While the seismic changes caused by the EU Referendum vote are quite rightly uppermost in retailers minds, the UK Insolvency Service has issued a consultation document reviewing the UK corporate insolvency framework. It is a response to consistent messages from the World Bank which recently put the UK at number 13 in a league table…
Guvera co-founders Claes Loberg (left) and Darren Herft (right); the company has placed some of its subsidiaries into voluntary administration. Wayne Taylor When beleaguered streaming music provider Guvera placed two of its subsidiaries into administration and wielded the axe to staff numbers this week, few observers were surprised. After all, the Gold Coast-based company, which…
Sean Smith – The West Australian on July 2, 2016, 2:35 am Deloitte’s Adam Stock, Ian Skelton, Michael McNulty, Lewis Stewart, Dave Andrews and Jennifer Delany. The partner is hardly an endangered species, but theres fewer admissions in Perth nowadays at the big commercial law and accountancy-based firms. Partner numbers at national law firms are…