The administrators handling the collapse of Booktopia have announced that orders placed with Australia’s largest online bookseller will not be filled – and there may be no refunds either. It means out of pocket customers who placed orders prior to the company entering voluntary administration have now become, in effect, unsecured creditors – which voids…
Shocking new statistics show that creditors owed money from a company collapse have no choice but to write off their losses completely in the overwhelming majority of cases. The Australian Securities and Investments Commission (ASIC) published its annual corporate insolvency statistics earlier this week, revealing that small and medium sized business have “dominated” the external…
Workers should go to court In its decision, the FWC found that the dismissals were unfair. However, it said it can no longer decide on the merits of the case since the company was already put in liquidation. “Had the company not been placed into liquidation and the applications had proceeded, [the Commission] would have…
Rex flies to 56 destinations including many in regional Australia such as Port Macquarie, Coffs Harbour, Orange, Dubbo and Albury in NSW, Mount Gambier in South Australia, Burnie and Devonport in Tasmania, Cairns and Mt Isa in Qld and Mildura in Victoria. Read the original article here
A corporate debtor’s journey from admission to resolution comprises various compliances and procedures in India, as prescribed in the Insolvency and Bankruptcy Code, 2016 (IBC), and regulations. One of the key steps is implementation of a resolution plan, which requires approvals from relevant regulators under applicable law. Veena SivaramakrishnanPartnerShardul AmarchandMangaldas & Co An amendment in…
A Queensland construction company has collapsed, plunging into jeopardy the fate of multiple state government-funded building projects worth hundreds of millions of dollars. Last Thursday, the Queensland Supreme Court ordered Allroads Pty Ltd into liquidation. Allroads specialised in civil construction and had taken on a number of major road and defence projects in Brisbane, Townsville…
Government to guarantee Rex flights as airline in administration 9News Read the original article here
KPT Restructuring, a new national restructuring and business advisory has entered the market, established in Sydney by Ozem Kassem, Jonathon Parker and Jason Tang. A trio of Cor Cordis partners – Ozem Kassem, Jonathon Parker, and Jason Tang – have broken away to launch their own consultancy KPT Restructuring, which will provide distressed businesses with…
The Advertiser Essentials $16 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. This subscription entitles you to access 30 locked articles on The Advertiser website only within each subscription period, and does not…
Fashion startup The Daily Edited gets another life after voluntary administration Startup Daily Read the original article here