Funding warning as bulk-billing clinic closes

News One of Canberra’s last fully bulk-billed clinics has entered voluntary administration after struggling to cover costs and attract enough GPs. The Interchange Health Co-operative clinic in Canberra was placed into voluntary administration this week after experiencing ‘intense pressure’. Another general practice has been forced to shut its doors…

NCLT Cannot Suo Moto Amend Date of Default in Insolvency Application Unless Amendment Application is Filed

The tribunal held that no liability can be fastened on the corporate debtor for default committed during Section 10A period. The adjudicating authority has, therefore, not committed any error in holding the Section 9 application as non-maintainable The Adjudicating Authority cannot suo moto change the date of default specified in the insolvency application unless an…

IBC not a tool for debt collection | India

Although the primary aim of the Insolvency and Bankruptcy Code, 2016 (IBC), is to revive financially distressed entities and ensure their continued operation, its practical application often diverges from this goal. Creditors frequently leverage IBC proceedings to secure favourable settlements and maximise debt recovery, bypassing the conventional judicial process. Faced with the prospect of insolvency,…

Miniso Australia facing winding up order after collapse

The Australian former master franchisee for multinational discount retailer Miniso will face a winding up hearing in the Supreme Court of New South Wales on Thursday, less than 12 months after the business was placed in voluntary administration for the second time. According to a notice published by the Australian Securities and Investments Commission (ASIC),…