Australian Plant Proteins enters administration

Australia’s first plant-protein isolate manufacturer, Australian Plant Proteins (APP), has entered voluntary administration, with industry leaders expressing frustration at the lack of government support, a reliance on imports, and drop in R&D investment in a sector with “enormous opportunity” for Australia. Australian Plant Proteins co-founders Brendan McKeegan and Phil McFarlane. (Source: Australian Plant Proteins) APP…

Liquidator for Clive Palmer’s former company Queensland Nickel says creditors paid in full

After eight years of financial heartbreak and court battles, the liquidator of Clive Palmer’s former Queensland Nickel refinery says it has paid the company’s creditors in full.  The Yabulu Nickel Refinery, owned by Queensland Nickel Industries, was the Townsville region’s largest private employer when it collapsed in 2016, owing hundreds of millions of dollars.  More…

Q3 2023: Business bankruptcies down, registrations up

In the third quarter of 2023, the number of bankruptcy declarations of EU businesses decreased by 5.8% compared with the previous quarter. Overall, the number of bankruptcy declarations in 2023 has been higher since the pre-pandemic period (i.e. the fourth quarter of 2019).  In the same period, registrations of new businesses slightly increased for the…

Upfront disclosure of MSME status of corporate debtor

The insolvency regulator – Insolvency and Bankruptcy Board of India (IBBI) – has proposed mandatory disclosures about the status of a corporate debtor, being registered or not, as an MSME (micro, small or medium enterprise) in accordance with the provisions of the Micro, Small and Medium Enterprises Development Act, 2006. The regulator has also proposed…

IBBI proposes mandatory disclosure of MSME status in insolvency proceedings to boost transparency

Recognising the differences between micro, small and medium enterprises and larger corporates, the Insolvency and Bankruptcy Board of India (IBBI) has proposed that any firm undergoing insolvency proceedings should disclose its status. It is proposed to amend Regulation 36 of the CIRP Regulations for making disclosures about the status of the corporate debtor, being registered…