Company collapses owing $2m, only $6 left – news.com.au
Company collapses owing $2m, only $6 left news.com.au Read the original article here
South Australian childcare group goes into voluntary administration
Seven childcare centres in Adelaide are in danger of shutting down after the company behind them went into voluntary administration. Precious Cargo Education called in administrators this morning, with founder and director Cheryl Shigrov saying difficulties facing the entire industry were behind the company’s struggles. “In recent years there have been some challenges that the…
Business Insolvency – NerdWallet UK
In the years since the Covid-19 pandemic, many businesses have struggled to weather tough times. Prolonged closures and disruptions during the pandemic followed by the cost of living crisis and sustained inflation are taking a toll on businesses across the board. And an increasing number of companies are facing the worst-case scenario this year: insolvency.…
$2m debt as school, hospital, shopping centre aircon company enters liquidation – Courier Mail
$2m debt as school, hospital, shopping centre aircon company enters liquidation Courier Mail Read the original article here
Cyberattack target MediSecure enters voluntary administration
Prescription delivery service provider MediSecure, which fell victim to a large-scale cyber breach that compromised the personal health information of thousands of Australians in April, has entered voluntary administration and is expected to face its creditors later this month. FTI Consulting on Wednesday issued a statement in which it said Vaughn Strawbridge and Paul Harlond…
Byju’s Lenders Submit Insolvency Filing After Missed Payment
Lenders to Byju’s Alpha filed an insolvency petition after the Indian education startup missed payment on a $1.2 billion loan. The move, announced by creditors in an emailed statement on Thursday, is the latest step in the fight between the startup founded by Byju Raveendran, once valued at $22 billion, and its creditors. Lenders have…
This city has seen its sixth building company collapse in as many weeks; can the industry recover? – building and construction news
The tsunami of building company collapses continues unabated, with Perth housing customers suffering losses and delays as a sixth builder has collapsed in just weeks. Western Australian home builder Start Right Homes has been sent into liquidation with another 24 hapless customers of failed builders joining the ranks of the disgruntled. The Osborne Park building…
Darlinghurst Theatre Company placed into voluntary administration
Darlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the “Darlo” has been a mainstay of Australian theatre for three…
Intersection between the Borrowers and Lenders Act and the Corporate Insolvency Act
By Audrey Naa Dei KOTEY& Clara METTLE-NUNOO In 2020, Ghana’s Parliament passed two significant pieces of legislation affecting the right of lenders, and borrowers both in and out of insolvency. The first was the Corporate Insolvency and Restructuring Act, 2020 (Act 1015). The second was the Borrowers and Lenders Act, 2020 (Act 1052). While these…
Toplace creditors vote to defer liquidation in hope of better return
Creditors of collapsed Western Sydney developer Toplace, which amassed debts of over $2 billion before founder and now fugitive Jean Nassif fled to Lebanon, voted on Tuesday to hold off liquidation of the group in favour of a scheme that may see them get a better payout. Known as a holding deed of a company…