Invitae gets court approval for five-month bankruptcy sale – Reuters
Invitae gets court approval for five-month bankruptcy sale Reuters Read the original article here
ATO crackdown on tax debts leads to a spike in insolvencies
Tax debt has emerged as one of the biggest drivers of corporate insolvencies over the past year, with the latest data from Alares Insights showing April tracked at 50 per cent higher than pre-COVID levels. According to Patrick Schweizer, author of Alares Monthly Credit Risk Insights, there has been a sharp increase in the number of companies seeking…
R3 responds to July 2024 insolvency statistics – Insider Media
R3 responds to July 2024 insolvency statistics Insider Media Read the original article here
Companies associated with Du Val Group placed into statutory management
Companies associated with Du Val Group, a developer of large-scale residential property projects in Auckland, have been placed into statutory management by the Government under the Corporations Act. The group, founded by developers Kenyon and Charlotte Clarke, was placed into receivership earlier this month by the Financial Markets Authority. In a statement on the Government’s…
US corporate bankruptcy filings slow in January
The pace of US corporate bankruptcy filings decelerated at the start of the new year, though companies still face relatively high interest rates and a challenging labor market. S&P Global Market Intelligence recorded 36 bankruptcy filings in January, down from a revised 49 in December 2023 and below most monthly filing totals in the previous…
Genius Childcare boss in $26m deal with G8 in hot water over company liquidation
The director of a childcare company that plans to acquire 31 underperforming centres from G8 ran another childcare venture that went broke late last year, owing almost $5 million rent to a landlord. Darren Misquitta, director of Genius Childcare, was also accused of failing to supply key financial records to a liquidator, according to a…
Rising numbers of firms going bust overtake financial crisis insolvency levels – MSN
Rising numbers of firms going bust overtake financial crisis insolvency levels MSN Read the original article here
Tax office moves on Dalma Form Specialist administrators in ‘$180m tax fraud’
The administrators of a formwork company involved in a suspected $180 million tax fraud have reduced an $11 million payroll tax debt to just $1 and executed a deed that effectively shuts down investigations. Revenue NSW this week launched a rearguard action in the Federal Court against Jones Partners principals Bruce Gleeson and Daniel Soire…
Gateway Liquor enters into liquidation
Gateway Liquor Wholesalers, a Sydney based distributor, has announced that it is entering into liquidation. The notice was given at a general meeting of the members of the company last Friday 1 March. The ASIC notice named Clifford John Sanderson and John Raymond Gibbons as liquidators. However, a timeline of the process is yet to…
Rising numbers of firms going bust overtake financial crisis insolvency levels
More companies went bust last year than in the 2008 financial crisis, according to new figures from the Insolvency Service. A total of 25,551 business insolvencies were recorded last year, more than the 25,186 that collapsed in the year from August 2008 to July 2009 including corporate giants like investment bank Lehman Brothers. The numbers…