Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024. In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be…
‘Stressful’: All staff sacked over email news.com.au Read the original article here
In short: Hundreds of Rex Airlines employees have been officially let go from the regional carrier after being told the business was “not viable”. Workers were informed their jobs were at risk at an all-staff meeting on Wednesday. What’s next? Administrators will hold their first creditors’ meeting on August 9, when staff will receive an…
The Australian Digital 12 Month Plan costs $416 (min. cost) for the first 12 months, charged as $32 every 4 weeks. This automatically renews after the first 12 months to be charged as $32 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12…
Parents from at least 26 WA schools have been left out of pocket for professional photos of their children after a national photography business went under. Academy Photography Australia went into liquidation on May 10 with Anthony Phillips of Heard Phillips Lieberenz appointed as liquidator. Read the original article here
Rex Airlines enters voluntary administration The Examiner Read the original article here
There is cause for optimism. Inflation is falling and the beginnings of a global economic recovery is expected next year. But first, companies in the UK and beyond must survive some significant challenges: Looming profitability squeeze: While a global and UK recovery is in sight for 2025 (we expect 2025 GDP to grow by 1.5%…
Getty Digital marketing agency No Standing has gone into voluntary liquidation, leaving 17 staff without jobs and with pay owing, according to documents lodged with corporate regulator ASIC. Daniel Juratowitch of Cor Cordis has been appointed liquidator for the full service Melbourne-based agency founded in 2016. He estimates the company owes more than $2.5 million.…
The federal government will guarantee Rex flight bookings for existing and future customers as the budget carrier undergoes voluntary administration. Regional flights have continued while a buyer or financial lifeline is sought for Rex. The federal government will guarantee Rex flight bookings for customers as the budget carrier undergoes voluntary administration. (Getty) Minister for Infrastructure,…
The Body Shop has filed for bankruptcy in the US and Canada and is struggling to pay suppliers in Australia as the group’s most profitable overseas businesses struggle with cash shortages after its UK parent’s collapse last month. The US arm of the ethical cosmetics group has ceased trading at its 50 outlets. On Saturday,…