Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Corporate insolvencies in England and Wales rose to their highest level since 1993 last year, according to official figures that lay bare the challenges facing companies amid slowing demand and high production costs. There were 25,158…
One of the last pillars of an award-winning Queensland chef’s hospitality empire has gone bust, just a month after seven other sister venues collapsed. Cuisinier Australis Pty Ltd trading as Montrachet has called in administrators. Montrachet is a well known fine-dining French restaurant in the Brisbane suburb of Bowen Hills. The appointed administrators, Mark Holland,…
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding. The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options…
Victorian-based business Abacus Print and Display, trading as Abacus Visual, will be wound up following the appointment of a liquidator this week. In a statement on its website, Abacus said: “We are authentic – no one likes a fake and they can spot them. Be true to yourself and who you are.” According to company’s…
In short: Air Vanuatu is in voluntary liquidation and Ernst & Young have taken control of the national airline. Authorities are unable to say when international flights will resume as passengers remain stranded in Australia and Vanuatu. What’s next: Ernst & Young says it is moving as fast as possible so that passengers can get home. Air…
Booktopia has entered voluntary administration after failing to secure emergency funding. In an ASX announcement today, the book retailer said it had appointed McGrathNicol partners Keith Crawford, Matthew Caddy and Damien Pasfield to oversee the company’s restructuring. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are…
On the 24 September 2020, the Australian Government announced changes to Australia’s insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduced new processes suitable for small businesses, reducing complexity, time and costs for small businesses. Effective from 1 January 2021, these are the most significant reforms to Australia’s…
Consultants overseeing process say they hope to get the airline’s four planes back in the skies as soon as possible. Air Vanuatu, the national carrier of the Pacific Islands nation of Vanuatu, has gone into liquidation a day after it cancelled all flights leaving thousands of travellers stranded. More than 20 flights to and from…
Video: Government to guarantee Rex flights as airline in administration Government to guarantee Rex flights as airline in administration We’re sorry, this feature is currently unavailable. We’re working to restore it. Please try again later. Dismiss Skip to sections navigationSkip to contentSkip to footer The federal government will guarantee Rex flight bookings for existing and…
EY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…