Allianz Trade does not expect a tsunami of business insolvencies as recorded in the aftermath of the great financial crisis, when global insolvencies skyrocketed by +17% and +19% in 2008 and 2009, respectively. However, the catch-up should be noticeable in several countries, in particular the advanced economies of Europe, due to specific firms (the most…
Parents from 26 West Australian schools have been left without professional photos of their children, that they paid for, after a school photography business went under. Liquidators were appointed for Academy Photography Australia late on Friday May 10th 2024. Drive understands 26 WA schools are in the same position, having had school photos taken which…
The federal government has announced it will guarantee all flight bookings for the embattled airline Rex as it continues its regional operations while under voluntary administration. On Thursday the transport minister, Catherine King, said Rex customers flying on regional routes would now have certainty “they will either fly or get their money back”, with the…
Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
‘Stressful’: All staff sacked over email news.com.au Read the original article here
In short: Hundreds of Rex Airlines employees have been officially let go from the regional carrier after being told the business was “not viable”. Workers were informed their jobs were at risk at an all-staff meeting on Wednesday. What’s next? Administrators will hold their first creditors’ meeting on August 9, when staff will receive an…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Parents from at least 26 WA schools have been left out of pocket for professional photos of their children after a national photography business went under. Academy Photography Australia went into liquidation on May 10 with Anthony Phillips of Heard Phillips Lieberenz appointed as liquidator. Read the original article here
Rex Airlines enters voluntary administration The Examiner Read the original article here
There is cause for optimism. Inflation is falling and the beginnings of a global economic recovery is expected next year. But first, companies in the UK and beyond must survive some significant challenges: Looming profitability squeeze: While a global and UK recovery is in sight for 2025 (we expect 2025 GDP to grow by 1.5%…