Taxpayer lifeline open for under-pressure airline Rex – The Northern Daily Leader
Taxpayer lifeline open for under-pressure airline Rex The Northern Daily Leader Read the original article here
‘It sucks’: Another home builder in liquidation – Gold Coast Bulletin
‘It sucks’: Another home builder in liquidation Gold Coast Bulletin Read the original article here
AAPA and Pel Air not involved in Rex Administration
Regional Express (Rex) subsidiaries Australian Airline Pilot Academy (AAPA) and Pel Air are not involved in the voluntary administration of airline operations announced yesterday. Rex Group directors have appointed Ernst and Young Australia as Joint and Several Voluntary Administrators, but the administration is limited to the airline and investment arms of Regional Express Holdings, which…
McGill and Partners launches self-contained coverage for corporate insolvency called SAIFElimits
McGill and Partners, the global boutique specialist (re)insurance broker, has launched a ready-made and self-contained coverage solution for corporate insolvency, known as SAIFElimits. This innovative offering is designed to seamlessly integrate into primary directors’ and officers’ (“D&O”) policies, automatically triggering coverage upon the occurrence of an insolvency event. SAIFElimits is specifically engineered to address the…
Evergrande’s liquidation could derail the Chinese economy and have global effects
A Hong Kong court has ordered one of China’s biggest property developers, Evergrande Group, to liquidate after it was unable to reach a restructuring deal with creditors over hundreds of billions of dollars it owes. Key points: Evergrande has been ordered to liquidate after failing to come up with a restructuring deal with creditors over US$300 billion…
Rex Airlines enters voluntary administration – The Courier
Rex Airlines enters voluntary administration The Courier Read the original article here
Parliamentary inquiry into corporate insolvency in Australia – Herbert Smith Freehills
Parliamentary inquiry into corporate insolvency in Australia Herbert Smith Freehills Read the original article here
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Australian airline enters voluntary administration with all flights cancelled between major cities
Share Tweet Share Share Email Australia’s third largest airline, Rex Airlines, has entered voluntary administration, leading to the cancellation of all flights between major airports. In a statement posted on their website, Rex announced: “Regional Express Holdings Limited and several of its subsidiaries have entered voluntary administration.” As a result, Rex has grounded all of…
The “ipso facto” prohibition in the Corporations Act applicable to corporate insolvency | Insight
An ipso facto clause is a contractual provision that allows one party to the contract to terminate or modify the operation of the contract upon the occurrence of a specified insolvency related event (such as the appointment of an administrator, receiver or liquidator) in respect of another party. From 1 July 2018, a moratorium on…