67% of ongoing corporate insolvency resolution cases cross 270-day timeline – Business Standard
67% of ongoing corporate insolvency resolution cases cross 270-day timeline Business Standard Read the original article here
Taxpayers sweat on $3m jobs loan as NT company tanks – NT News
Taxpayers sweat on $3m jobs loan as NT company tanks NT News Read the original article here
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Increased Protection for Employees in Insolvency Situations Signed into Law
The Employment (Collective Redundancies and Miscellaneous Provisions) Act 2024 has been signed into law. The Act, once commenced, will amend the existing collective redundancy regime in insolvency situations and will deliver on key Programme for Government commitments detailed in the Plan of Action – Collective Redundancies following Insolvency. Background In June 2020, the coalition parties…
Canberra day spa Adytum goes bust, leaving workers and customers in the lurch with unpaid wages and unusable gift vouchers
In short: A Canberra day spa has gone into liquidation with staff saying they were blindsided by the business bust. Adytum workers claim they are owed wages while customers in possession of gift vouchers have been left out of pocket. What’s next? Access Canberra recommends voucher holders apply as creditors with the liquidators, in a bid to get…
Government to guarantee Rex flights as airline undergoes administration – MSN
Government to guarantee Rex flights as airline undergoes administration MSN Read the original article here
McGill and Partners Launches Coverage for Corporate Insolvency as D&O Policy Extension
McGill and Partners, the London-based boutique specialist re/insurance broker, has launched SAIFElimits, a coverage solution for corporate insolvency. The scheme is designed to be incorporated into any primary directors and officers (D&O) policy and is triggered automatically by an insolvency event. This extension allows protection to remain in place for directors and officers for up…
Company in liquidation but restructured business continues, says Rubik3 founder
Rubik3 founder and director Guy Earnshaw: the business remained sound and operating. Photo: Region. Rubik3 founder and director Guy Earnshaw has moved to quash reports that the award-winning consulting and recruitment business he founded has gone bust. Mr Earnshaw said the business had been restructured in March to June 2022 to streamline its work, including…
Dion Lee Enters Voluntary Administration
Dion Lee this week joins Alice McCall and Tigerlily as the latest Australian fashion label to call in the administrators in 2024. High profile Australian fashion label Dion Lee has called in the administrators as major partner Cue announced its withdrawal from the label this week. “After a recent strategic review, a decision has been…
O’Connor Appointed to UK Insolvency Service Board
Chartered accountant Lorcan O’Connor has joined the Insolvency Service Board as non-executive member Mr O’Connor was the founder of the Insolvency Service of Ireland (ISI) and led the organisation for seven years He joined the UK Insolvency Service Board on 2 April and was inducted on 2 May 2024 Lorcan O’Connor, founder and former leader…