Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Company insolvencies are running at a 30-year high in the UK, signalling a busy year ahead for corporate restructuring and bankruptcy specialists. More than 25,000 companies in Britain registered as insolvent in 2023, a 14…
Company collapses owing $2m, only $6 left news.com.au Read the original article here
Seven childcare centres in Adelaide are in danger of shutting down after the company behind them went into voluntary administration. Precious Cargo Education called in administrators this morning, with founder and director Cheryl Shigrov saying difficulties facing the entire industry were behind the company’s struggles. “In recent years there have been some challenges that the…
In the years since the Covid-19 pandemic, many businesses have struggled to weather tough times. Prolonged closures and disruptions during the pandemic followed by the cost of living crisis and sustained inflation are taking a toll on businesses across the board. And an increasing number of companies are facing the worst-case scenario this year: insolvency.…
$2m debt as school, hospital, shopping centre aircon company enters liquidation Courier Mail Read the original article here
Prescription delivery service provider MediSecure, which fell victim to a large-scale cyber breach that compromised the personal health information of thousands of Australians in April, has entered voluntary administration and is expected to face its creditors later this month. FTI Consulting on Wednesday issued a statement in which it said Vaughn Strawbridge and Paul Harlond…
Lenders to Byju’s Alpha filed an insolvency petition after the Indian education startup missed payment on a $1.2 billion loan. The move, announced by creditors in an emailed statement on Thursday, is the latest step in the fight between the startup founded by Byju Raveendran, once valued at $22 billion, and its creditors. Lenders have…
The tsunami of building company collapses continues unabated, with Perth housing customers suffering losses and delays as a sixth builder has collapsed in just weeks. Western Australian home builder Start Right Homes has been sent into liquidation with another 24 hapless customers of failed builders joining the ranks of the disgruntled. The Osborne Park building…
Darlinghurst Theatre Company has announced via social media and its website that its directors have resolved to place the company into voluntary administration as of 17 June 2024. The company was formed in 1993 by Glenn Terry. Housed in The Eternity Playhouse since 2013, the “Darlo” has been a mainstay of Australian theatre for three…
By Audrey Naa Dei KOTEY& Clara METTLE-NUNOO In 2020, Ghana’s Parliament passed two significant pieces of legislation affecting the right of lenders, and borrowers both in and out of insolvency. The first was the Corporate Insolvency and Restructuring Act, 2020 (Act 1015). The second was the Borrowers and Lenders Act, 2020 (Act 1052). While these…