Rex Airlines enters voluntary administration; 610 jobs at risk – Proactive Investors Australia
Rex Airlines enters voluntary administration; 610 jobs at risk Proactive Investors Australia Read the original article here
Have a flight booked with Rex airlines? Here’s what we know about cancellations and refunds
Rex Airlines has entered voluntary administration. Flights between capital cities have been cancelled but the airline says regional routes are still flying as scheduled. In a statement on the Rex website, it said Virgin Australia was offering to assist customers affected by the cancellations. While Rex says it’ll contact customers, the news has created uncertainty…
Flights cancelled between main airports
Published on July 31, 2024 Rex Airlines has entered voluntary administration, cancelling all flights between major airports. Rex Airlines flights between major Australian airports have been cancelled. Image : Getty Key Takeaways The airline’s Boeing 737 fleet, which services major capital city airports, has been grounded. Flights between major airports have been cancelled but the…
Owner distress as companies plunge into administration – The Canberra Times
Owner distress as companies plunge into administration The Canberra Times Read the original article here
NLUD, CTCL, Insolvency And Bankruptcy, Law Practice & Regulations
The Centre for Transnational Commercial Law (“CTCL”) is a constituent unit and specialized research centre of the National Law University Delhi established in 2008 by Act No. 1 of 2008 of Delhi. Since its establishment in 2016, CTCL has actively undertaken various initiatives to promote research and scholarship in the area of commercial laws. CTCL…
Owner distress as companies plunge into administration
Officials from Australia’s corporate watchdog told a parliamentary inquiry into the cost-of-living crisis that 11,053 businesses entered external administration in the 2023/24 financial year. ASIC commissioner Kate O’Rourke said while the proportion of businesses going into administration was not the highest, the past year had the most overall. “The highest number in terms of proportion…
Indonesian airline ‘flying high’: High Court confirms foreign entity immunity from winding up
Greylag Goose Leasing 1410 Designated Activity Company v P.T. Garuda Indonesia Ltd [2024] HCA 21 per Gageler CJ, Gordon, Edelman, Steward, Gleeson, Jagot, Beech-Jones JJ Key takeaways The High Court of Australia has upheld the New South Wales Court of Appeal decision that foreign state immunity extends to a national airline subject to a winding…
Cryptocurrency – The part it plays in Bankruptcy and Corporate Insolvency and Recent News
What is Cryptocurrency? Cryptocurrency (Crypto) is a virtual currency or a “digital asset” that was originally designed to work as a medium of exchange, much like the Australian dollar. Do I need to declare Crypto to my Bankruptcy Trustee? Yes. Like any other asset, a Bankrupt must disclose ownership or interest in Crypto to the…
Formal Insolvency Appointments – William Buck
Formal Insolvency Appointments William Buck Read the original article here
NCLT admits SKIL Infrastructure under corporate insolvency process
Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted listed infrastructure development company SKIL Infrastructure under the corporate insolvency resolution process (CIRP) following an application filed by its financial creditor Amluckie Investment Company. The tribunal has also appointed Purusottam Behera as its resolution professional. “The moratorium shall have effect from the…