Published 11 August 2020 Tim Cooper Corporate insolvencies may increase this winter, with new research from the insolvency and restructuring trade body R3indicating that a steep rise may start as early as this October. The R3 research based on a member survey of insolvency and restructuring professionals highlights that an overwhelming majority (93.7 per cent)…
news, local-news, The landowner of a $21 million Wagga development has gone into voluntary administration, with the ramifications for the future 17-storey complex not yet known. CRK Holdings owns the land for the Riverside Apartments at 11 Sturt Street, set to house 67 residential units and three commercial spaces when built. In a statement, Chamberlains…
Iconic Aussie swimwear brand Seafolly has purchased rival brand JETS in a strategic move to help lift both companies out of voluntary administration. Seafolly collapsed into receivership in late June, before it was sold to American-owned private equity company L Catterton by administrators KordaMentha. JETS swimwear suffered a similar fate in May, when its parent…
The companys sole director, Stuart Abbott, is a prominent member of the Baptist church community and serves on the board of BaptistCare. Stuart Abbott, a board member of BaptistCare. His company Clifford Constructions has gone bust leaving a string of angry creditors in its wake. Clifford Constructions sole shareholder is Abbott Corporation Pty Ltd, a…
A home loans company that previously operated in Townsville is being liquidated with creditors expected to be paid in full. Platinum Business Services Pty Ltd, trading as Townsville Home Loans, was placed in liquidation in May through a creditor’s voluntary winding up application. Liquidators in the central Queensland division of Worrells Solvency & Forensic Accountants…
A home loans company that previously operated in Townsville is being liquidated with creditors expected to be paid in full. Platinum Business Services Pty Ltd, trading as Townsville Home Loans, was placed in liquidation in May through a creditor’s voluntary winding up application. Liquidators in the central Queensland division of Worrells Solvency & Forensic Accountants…
The Dalgaranga process plant. Source: Gascoyne Resources Latest News The Federal Court of Australia has launched proceedings on Gascoyne Resources plan to be relisted on the Australian Securities Exchange. This follows Habrok Mining, a Western Australia-based investment company, putting forward an unsuccessful deed of company arrangement (DOCA) proposal for Gascoyne, before purchasing unsecured debt of…
Virgin Atlantic has filed for bankruptcy in the United States as it claims it will run out of cash next month without a rescue deal. The cash-strapped airline filed for Chapter 15 bankruptcy protection in New York, a move that allows a foreign company with US assets to protect itself from creditors as it works…
By Wayne Robinson | 5 August 2020 Former marketing services powerhouse Salmat will ask its general meeting at the end of the month for approval to delist, wind itself up, and appoint liquidators. Two blokes and a map: Phil Salter and Peter Mattick in 1979 The company, which enjoyed supersonic growth for 35 years, sold…
FOR every successful Gympie business there is another fallen by the way side and some have collapsed in the most spectacular ways, occasionally leaving financial wreckage in their wakes. Here are some of the most prominent and longstanding business to have fallen into liquidation over the past five years, whether through mismanagement, bad timing, or…