Category Archives: Liquidation

Public Trust assumes ownership of two SolarZero companies to protect contracts and debt repayments – BusinessDesk

Public Trust assumes ownership of two SolarZero companies to protect contracts and debt repayments  BusinessDesk Read the original article here

Ashurst boosts Perth office with strategic partner hires

Notably, he spent a decade as a partner at HWL Ebsworth, where he founded and led the Restructuring and Insolvency practice in Perth. He also has experience as a lawyer at Minter Ellison. “Ashurst’s reputation as a leading global firm with a strong record in the restructuring and insolvency space in Australia and the Asia…

NCLT Holds, Liabilities of Corporate Debtor Must Be Settled u/s 53 Of IBC

The bench found that as far as the ‘going concern’ sale in liquidation is concerned, there is a clear difference that only assets are transferred and the liabilities of the Corporate Debtor have to be settled in accordance with Section 53 of the Code In  a recent case, the Mumbai bench of the  National Company…

Business insolvencies: annual growth by region 2023

Following the rising global inflation, business insolvencies are forecast to increase in all world regions in 2023, increasing by almost 50 percent in North America. Following a sharp increase with the 2008-09 financial crash, the number of business insolvencies in North America declined each year from 2010 to 2019. Perhaps somewhat surprisingly, except for Eastern…

White & Case hires former A&O corporate chief as Latham raids Weil for elite insolvency team

Leading the high-profile moves this week, White & Case has hired Richard Browne as a partner into its global M&A practice. Recognised as a , Browne joins from A&O Shearman. Browne began his career at legacy A&O in 1993 and later went on to serve as global co-head of the corporate practice and head of corporate in…

Federal Court finds director reasonably relied on external advice amid potential insolvency – Directors and Officers – Corporate/Commercial Law

On 6 November 2024, the Federal Court dismissed the Australian Securities and Investments Commission’s (ASIC) case against Paul Ryan, a director of Dixon Advisory & Superannuation Services Pty Limited (DASS). The case alleged that Mr Ryan had breached his directors’ duties by failing to consider the interests of DASS’ creditors when the company was approaching…

20+ Aussie craft breweries have fallen victim to craft beer’s economic crisis over past 12 months

This week, Melbourne’s Burnley Brewing has announced that it has entered into liquidation, marking a continuation of a now well-established trend that has seen more than 20 breweries enter into either voluntary administration or liquidation over the past year alone.  According to an update published to ASIC, “notice is given that at a general meeting…