The Australian Securities and Investments Commission (ASIC) has pointed to a situation where there may not be enough registered liquidators (RLs) to handle COVID-19 related corporate insolvencies because many of the RLs are facing financial struggles themselves. ASIC had revealed the dilemma to the Parliamentary Joint Committee on Corporations and Financial Services noting it as…
STA Travel Group has collapsed into voluntary administration. It comes after the collapse of its Swiss-based parent company STA Travel Holding AG. Deloittes Jason Tracy and Timothy Norman were appointed as administrators, with the company telling customers that they are unable to provide cash refunds. Visit Business Insider Australias homepage for more stories. Travel agent…
By Wayne Robinson | 5 August 2020 One of the country’s major direct mail houses, Direct Mail & Marketing, is in voluntary administration, sending a cold shiver through the Victorian print industry. Into administration: Fred Humphrey, Direct Mail & Marketing With its corporate office in Bourke Street and production centred in Dandenong South, the company…
Thousands of travellers who booked holidays before the coronavirus pandemic are now in limbo after student travel agency STA went into administration. Key points: All 27 STA outlets are “closed for the foreseeable future” Customers are being advised to contact airlines, hotel companies and banks about refunds The business employs 180 full-time employees Deloitte joint…
newsletters, editors-pick-list, Oliver Roths, Oliver Banovec, Oliver Roths Oliver Banovec, Harvest Homes, Oliver Roth fraud, Oliver Banovec fraud, Oliver Roths harvest homes, Harvest homes liquidation A JAILED fraudster who swindled an investor out of $500,000 will face a public examination in the Federal Court to explain his involvement in the failed Newcastle building company Harvest…
Failed Japanese apparel maker Renown Inc. said Friday it will sell some of its main brands, including the Durban suit brand, to an apparel group in Osaka for an undisclosed amount. Renown is likely to go into liquidation after the planned sale of its brands to Koizumi Co.s group companies on Sept. 30, sources close…
“While we maintain that our recapitalisation plan represents a superior outcome for Virgin Australia and its stakeholders, we acknowledge the Federal Court’s decision. We are undoubtedly disappointed,” the spokesman said. “Australia deserves a strong second airline, and we genuinely believe our recapitalisation proposal is the best long-term option for Virgin Australia and its stakeholders. It…
Buy olive oil loved by top Sydney chefs, award-winning saucisson and outstanding eggs thatll remind you what good eggs taste like. Eveleigh arts and culture precinct Carriageworks went into voluntary administration earlier on in 2020. Thankfully, though, its been saved with a mix of government grants and philanthropic donations. And that means its popular weekly…
Another aged care and village operator has gone bust but there are questions over how many residents will need to be re-homed as a result. Receivers KordaMentha and managers SV Partners were appointed at the start of June to oversee the 36-bed Mount Providence Village aged care home in Muswellbrook in NSWs Upper Hunter region…
Residents at Mount Providence Village aged care facility have been told to leave following the organisation’s announcement it has gone into liquidation. The news comes just 30 months after the venture began, with COVID-19 and a shortage of public support being suggested for the facility’s lack of success. The company which owns Mt Providence, New…