The number of Australian businesses falling into insolvency for the first time has jumped to 967 in February 2024, according to newly released data from the Australian Securities and Investments Commission (ASIC). This is the highest point it has ever hit since 2015 according to ASIC, and is a 74% lift on the prior month.…
50 homes in limbo, more than $8m debts as two builders collapse Gold Coast Bulletin Read the original article here
Deeds Brewing has announced that it is entering liquidation, having been unable to find a buyer or investor since entering into voluntary administration last month. The brewery published a statement on Facebook about the decision to enter liquidation, thanking its fans and supporters over the years. “Our hearts are broken. Since launching Deeds Brewing in…
LATEST: Liquidators appointed for Tasmania-based businesses The Mercury Read the original article here
Written by Sam Johnson (Partner), Emily Barrett (Partner), Caitlin McTaggart (Senior Associate), Madison Copland (Law Graduate) In the matter of IOUpay Limited ACN 091 192 871 (Administrators Appointed) [2023] NSWSC 568 per Williams J JWS represented Daniel Walley and Philip Carter of PricewaterhouseCoopers in their capacity as voluntary administrators (Administrators) of IOUpay Limited (Administrators Appointed)…
At a time when the solar power industry should be booming, solar installers across Australia say they are being “cheated” out of millions after trusting a third party to chase their government energy rebates. The small businesses used middleman service Emerging Energy Solutions and its affiliates to organise their green energy rebates from the federal…
Australian small businesses are still reeling from the knock-on effects of COVID-19 amid higher cost-of-living pressures thanks to elevated inflation and interest rates. From July 1, 2022 to June 30 this year, small to medium-sized corporate insolvencies dominated external administrators’ reports, according to the Australian Securities and Investments Commission on Wednesday. Premium Subscribers with digital…
In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023. The figures included 320 compulsory liquidations – when a company is forced to shut down, usually because it has debts it cannot pay – which is the highest monthly number since before the Covid-19 pandemic. David…
Caroline is a Legal Director in the Restructuring and Insolvency Department. She has over 15 years’ experience of dealing with all aspects of contentious and non-contentious personal and corporate insolvency work. Caroline passed the CPI professional insolvency exam in June 2008. She was one of only 6 lawyers to pass the CPI that year. Throughout…
Labour-hire company Workforce Solutions claims 500 hours of invoiced work has gone unpaid from April for five of its hired workers (totalling about $28,000). Workforce Solutions and its parent company MCNZ Group have made an application in the High Court at Napier to put Herbert Construction Ltd into liquidation. That application is set to be…