In early 2024, Switzerland’s GDP continued a moderate growth, mostly due to the service economy. Most conjunctural indicators have stabilised in recent months. The Swiss federal government’s Expert Group on Economic Forecasts therefore expects, in its latest forecast, growth for the Swiss economy in 2024 to be similar to 2023; i.e., a GDP growth rate…
Several other UK high street brands have also gone into administration recently, including Debenhams and Topshop, due to higher interest rates, the cost of living crisis and increasing inflation seen in the UK over the last several months. ADVERTISEMENT The Body Shops French subsidiary could potentially face closure, with the company already in receivership and…
Australia will see a raft of reforms to the national bankruptcy system introduced so that debtors involved in personal insolvency matters receive fairer outcomes. On Monday, Attorney-General (A-G) Mark Dreyfus said key changes would lift the stigma associated with filing for bankruptcy. The changes include increasing the timeframe in which a debtor may respond to…
Australian Plant Proteins (APP), the only manufacturer of Australian-grown faba bean and pulse protein isolates, has entered voluntary administration. APP operates the largest of three commercial-scale plant protein fractionation facilities in Australia, producing 1200 tonnes of isolates per year at the site in Horsham, Victoria. The ingredients are used by domestic and overseas companies in…
This article was co-authored with Liam Shiel-Dick. This article contains a summary of the following article originally published in the Insolvency Law Journal: Lessors Priority in External Administration and the Virgin Australia Administration (2023) 31 Insolv LJ 142 In Part 1 of this series, we described how the Corporations Act 2001 (Cth) seeks, in the unfolding…
As a book lover and borderline reading addict, it has pained me to see another book distributor go into voluntary administration, and in fact, its answering a few of the questions I have had for months. It was announced yesterday that Booktopia, one of Australias biggest and most loved online bookstores, has gone into voluntary…
As a book lover and borderline reading addict, it has pained me to see another book distributor go into voluntary administration, and in fact, its answering a few of the questions I have had for months. It was announced yesterday that Booktopia, one of Australias biggest and most loved online bookstores, has gone into voluntary…
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding. The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business. The Administrators are undertaking an urgent assessment of Booktopias business while options…
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding. The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business. The Administrators are undertaking an urgent assessment of Booktopias business while options…
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding. The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business. The Administrators are undertaking an urgent assessment of Booktopias business while options…