Operational creditors continue to get little of insolvency proceeds – MSN
Operational creditors continue to get little of insolvency proceeds MSN Read the original article here
Projects in Limbo as AllRoads Ordered to Liquidate
Defence, road and other state government infrastructure projects are now in limbo after a Queensland-based construction company was ordered into liquidation. Jon and Dan Fulton, who founded AllRoads in 2009, have had their company ordered into liquidation by the Queensland Supreme Court. The company went into administration as pipe supplier Enviropipes submitted a winding up…
Company insolvencies up 16% on July last year as cost hikes continue to bite
The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data. In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to…
Insolvencies jump 74%, hitting decade-long high in February
The number of Australian businesses falling into insolvency for the first time has jumped to 967 in February 2024, according to newly released data from the Australian Securities and Investments Commission (ASIC). This is the highest point it has ever hit since 2015 according to ASIC, and is a 74% lift on the prior month.…
50 homes in limbo, more than $8m debts as two builders collapse – Gold Coast Bulletin
50 homes in limbo, more than $8m debts as two builders collapse Gold Coast Bulletin Read the original article here
Deeds Brewing enters liquidation – Beer & Brewer
Deeds Brewing has announced that it is entering liquidation, having been unable to find a buyer or investor since entering into voluntary administration last month. The brewery published a statement on Facebook about the decision to enter liquidation, thanking its fans and supporters over the years. “Our hearts are broken. Since launching Deeds Brewing in…
LATEST: Liquidators appointed for Tasmania-based businesses – The Mercury
LATEST: Liquidators appointed for Tasmania-based businesses The Mercury Read the original article here
Present solvency and future debt: the relevance of future debt in determining solvency
Written by Sam Johnson (Partner), Emily Barrett (Partner), Caitlin McTaggart (Senior Associate), Madison Copland (Law Graduate) In the matter of IOUpay Limited ACN 091 192 871 (Administrators Appointed) [2023] NSWSC 568 per Williams J JWS represented Daniel Walley and Philip Carter of PricewaterhouseCoopers in their capacity as voluntary administrators (Administrators) of IOUpay Limited (Administrators Appointed)…
Solar installers ‘cheated’ out of millions
At a time when the solar power industry should be booming, solar installers across Australia say they are being “cheated” out of millions after trusting a third party to chase their government energy rebates. The small businesses used middleman service Emerging Energy Solutions and its affiliates to organise their green energy rebates from the federal…
Small businesses hit the hardest by COVID-19 pandemic, ASIC says
Australian small businesses are still reeling from the knock-on effects of COVID-19 amid higher cost-of-living pressures thanks to elevated inflation and interest rates. From July 1, 2022 to June 30 this year, small to medium-sized corporate insolvencies dominated external administrators’ reports, according to the Australian Securities and Investments Commission on Wednesday. Premium Subscribers with digital…