Monster company collapses owing $80m – news.com.au
Monster company collapses owing $80m news.com.au Read the original article here
Bonza administrators get two-month extension to save airline, employees remain in limbo
In short: The Federal Court has granted Bonza administrators a two-month extension to find a solution for the embattled airline. Staff who remain stood down without pay say they’re desperate for money and can’t accept other jobs without risking their entitlements. What’s next: Administrators say employees and other creditors will be better off if the company avoids going into liquidation.…
Federal government guarantees regional flights for Rex customers during administration
The federal government will guarantee all regional flight bookings for customers of Rex during its administration process over the next month. Administrators were appointed to oversee Rex after the airline collapsed in late July, resulting in about 600 job losses. Federal Transport Minister Catherine King said the regional flight guarantee would provide certainty for Rex’s…
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Andrew Bayly’s big move: Companies Act to get a makeover – BusinessDesk
Andrew Bayly’s big move: Companies Act to get a makeover BusinessDesk Read the original article here
Australian retail giant Booktopia enters voluntary administration
Booktopia co-founder Tony Nash. Source: supplied. Australian online book retailer Booktopia has entered voluntary administration, following a first-half revenue downturn and struggles to secure additional funding. The ASX-listed company on Wednesday appointed McGrathNicol restructuring partners Keith Crawford, Matthew Caddy, and Damien Pasfield as voluntary administrators. The administrators are “undertaking an urgent assessment of Booktopia’s business…
ATO chases small businesses for $34b in debt, insolvencies tipped to hit post-global financial crisis levels
The tax office is chasing more than $34 billion worth of debts owed by small businesses and self-employed Australians that were put on hold during COVID, and sometimes using aggressive enforcement action to collect the money, which experts say is sending some businesses to the wall. Some experts are predicting that the rate of insolvencies…
Adelaide Designer Homes collapses leaving dozens of heartbroken families with unfinished homes
By Brett Lackey For Daily Mail Australia Published: 15:03 AEST, 10 August 2024 | Updated: 15:11 AEST, 10 August 2024 A South Australian residential building company has collapsed leaving 20 homes unfinished and more than 80 creditors with significant unpaid bills. Adelaide Designer Homes has gone into liquidation which is being handled by Anna Agostino…
Booktopia collapses into voluntary administration – 9News
Booktopia collapses into voluntary administration 9News Read the original article here
NCLT orders insolvency proceedings against Coffee Day Enterprises
The corporate dispute tribunal agency National Company Law Tribunal (NCLT) has ordered initiating insolvency proceedings against Coffee Day Enterprises Limited (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru Bench of the NCLT on August 8 admitted the plea filed by IDBI Trusteeship Services Limited (IDBITSL)…