(Bloomberg) — Beauty brand Avon Products Inc. should slow down its bankruptcy case so that people who allegedly got cancer from the company’s products have time to study any potential payout plan, a lawyer said in court Wednesday. Victims deserve a special committee to represent them in the Chapter 11 case, said Todd Phillips, a…
A caravan manufacturing company has collapsed with debts of more than $1 million. On Tuesday, Victorian-based Highline Caravans Pty Ltd went into voluntary liquidation. The Melbourne company designed and built custom caravans for customers. Highline Caravans has been a registered business for 11 years, since 2013, and offered 13 different models to customers including an…
Booktopia Group and its subsidiaries have entered voluntary administration two weeks after calling a trading halt at the ASX-listed online retailer which raised fears for its financial future. Keith Crawford, Matthew Caddy, and Damien Pasfield from McGrathNicol Restructuring have been appointed as administrators on 3 July 2024 and are now assessing Booktopia’s business and exploring…
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Corporate insolvencies in England and Wales rose to their highest level since 1993 last year, according to official figures that lay bare the challenges facing companies amid slowing demand and high production costs. There were 25,158…
One of the last pillars of an award-winning Queensland chef’s hospitality empire has gone bust, just a month after seven other sister venues collapsed. Cuisinier Australis Pty Ltd trading as Montrachet has called in administrators. Montrachet is a well known fine-dining French restaurant in the Brisbane suburb of Bowen Hills. The appointed administrators, Mark Holland,…
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding. The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options…
Victorian-based business Abacus Print and Display, trading as Abacus Visual, will be wound up following the appointment of a liquidator this week. In a statement on its website, Abacus said: “We are authentic – no one likes a fake and they can spot them. Be true to yourself and who you are.” According to company’s…
In short: Air Vanuatu is in voluntary liquidation and Ernst & Young have taken control of the national airline. Authorities are unable to say when international flights will resume as passengers remain stranded in Australia and Vanuatu. What’s next: Ernst & Young says it is moving as fast as possible so that passengers can get home. Air…
Booktopia has entered voluntary administration after failing to secure emergency funding. In an ASX announcement today, the book retailer said it had appointed McGrathNicol partners Keith Crawford, Matthew Caddy and Damien Pasfield to oversee the company’s restructuring. “The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are…
On the 24 September 2020, the Australian Government announced changes to Australia’s insolvency framework to better serve Australian small businesses, their creditors and their employees. The changes introduced new processes suitable for small businesses, reducing complexity, time and costs for small businesses. Effective from 1 January 2021, these are the most significant reforms to Australia’s…