THE VIRGIN AUSTRALIA FLEET SITS IDLE AT AIRPORTS. When Virgin Australia Holdings Ltd went into voluntary administration towards the end of April a casualty of the COVID-19 pandemic members of Virgin Australias Velocity Frequent Flyer program may have thought that their points were safe. Velocity Frequent Flyer Pty Ltd (VFF) is a distinct company from…
Virgin Australia says it will double domestic capacity by early July as state border restrictions ease and demand grows, joining rival Qantas in adding a significant number of flights. Virgin, the country’s second-biggest carrier, entered voluntary administration in April, owing nearly $7 billion to creditors, but has been flying a limited government-supported network during the…
Peak body Equestrian Australia has been placed in voluntary administration by its board in a bid to avoid insolvency. In what has been described as a “difficult decision, Equestrian Australia says the move follows the withdrawal of funding by Sports Australia – reportedly due to due to poor governance – and the impact of COVID-19…
Carillion announced its first profit warning on 10 July 2017. At the time, I was scheme secretary to a board of 16 trustee directors and a company-appointed trustee of a trust-based defined contribution (DC) plan. Although it would be a further six months before the company was placed in liquidation, it was at this point…
June 10 (Reuters) – Moreton Resources Ltd: * CO & UNITS HAVE ENTERED VOLUNTARY ADMINISTRATION * APPOINTED GRANT SPARKS AND DAVID ORR OF DELOITTE FINANCIAL ADVISORY PTY LTD AS ADMINISTRATORS OF GROUP * ADMINISTRATORS TO UNDERTAKE URGENT ASSESSMENT OF GROUPS BUSINESS & FINANCIAL POSITION TO DETERMINE FUTURE OF BUSINESS & ASSETS Source text for Eikon:…
In AnAn (Singapore) Pte Ltd v VTB Bank (Public Joint Stock Company) [2020] SGCA 33, the Singapore Court of Appeal (the Singapore Court) recently grappled withan issue of paramount importance where a creditor seeks to recover a debt arising under a contract containing a clause which provided that disputes would be determined through arbitration (arbitration…
June 10 (Reuters) – Moreton Resources Ltd: * CO & UNITS HAVE ENTERED VOLUNTARY ADMINISTRATION * APPOINTED GRANT SPARKS AND DAVID ORR OF DELOITTE FINANCIAL ADVISORY PTY LTD AS ADMINISTRATORS OF GROUP * ADMINISTRATORS TO UNDERTAKE URGENT ASSESSMENT OF GROUPS BUSINESS & FINANCIAL POSITION TO DETERMINE FUTURE OF BUSINESS & ASSETS Source text for Eikon:…
A GROUP of subcontractors badly impacted by the collapse of builder Ri-Con Contractors, has engaged investigators to prepare a brief of evidence in a bid to force a criminal investigation into events leading up to the company’s liquidation. The subbies had been working on jobs for which Gympie, Noosa and Sunshine Coast councils were clients.…
Murchison is making a last-ditch attempt to save its embattled community hub, Murchison Neighbourhood House, nine months after its parent company liquidated taking the town’s only nursing home with it. Key points: With less than a week until tenders for the purchase of the building close, Murchison Neighbourhood House management has made a last-minute appeal…
Image via TuchuzyWords by Tori Mathison Another blow to the retail industry. Designer brand mecca Tuchuzy has announced that its entered into voluntary administration. The news comes after a startling number of Australian stores have been buckling under the coronavirus-related pressure on the retail market. The Bondi fixture has been an iconic Sydney fashion destination…