The Employment (Collective Redundancies and Miscellaneous Provisions) Act 2024 has been signed into law. The Act, once commenced, will amend the existing collective redundancy regime in insolvency situations and will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency. Background In June 2020, the coalition parties…
In short: A Canberra day spa has gone into liquidation with staff saying they were blindsided by the business bust. Adytum workers claim they are owed wages while customers in possession of gift vouchers have been left out of pocket. What’s next? Access Canberra recommends voucher holders apply as creditors with the liquidators, in a bid to get…
Government to guarantee Rex flights as airline undergoes administration MSN Read the original article here
McGill and Partners, the London-based boutique specialist re/insurance broker, has launched SAIFElimits, a coverage solution for corporate insolvency. The scheme is designed to be incorporated into any primary directors and officers (D&O) policy and is triggered automatically by an insolvency event. This extension allows protection to remain in place for directors and officers for up…
Rubik3 founder and director Guy Earnshaw: the business remained sound and operating. Photo: Region. Rubik3 founder and director Guy Earnshaw has moved to quash reports that the award-winning consulting and recruitment business he founded has gone bust. Mr Earnshaw said the business had been restructured in March to June 2022 to streamline its work, including…
Dion Lee this week joins Alice McCall and Tigerlily as the latest Australian fashion label to call in the administrators in 2024. High profile Australian fashion label Dion Lee has called in the administrators as major partner Cue announced its withdrawal from the label this week. “After a recent strategic review, a decision has been…
Chartered accountant Lorcan O’Connor has joined the Insolvency Service Board as non-executive member Mr O’Connor was the founder of the Insolvency Service of Ireland (ISI) and led the organisation for seven years He joined the UK Insolvency Service Board on 2 April and was inducted on 2 May 2024 Lorcan O’Connor, founder and former leader…
Workers at two NSW factories have slammed their former employer after the company went bust, leaving them and other creditors multiple millions out of pocket. Last month, two companies linked to the Sydney-based Apollo group, which manufactures kitchen and bathroom joinery, collapsed into liquidation after 56 years in business. Its main clients were big builders…
Animus Distillery has entered into voluntary administration. Animus Distillery in Kyneton has entered into voluntary administration. Leading advisory and restructuring firm, Cor Cordis, has been engaged to assist the business with opportunities for sale or potential recapitalisation. In a statement issued to customers and partners, the Animus team said the decision was not made lightly.…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The company at the centre of René Benko’s property empire more than doubled its debt in the first nine months of the year, indicating the scale of the liquidity problems facing the group as it…