Australian insolvencies hit a record high in March, according to the latest data released by the corporate regulator. In total, 1131 businesses went bust in the month, which was the largest number since ASIC started collecting these statistics in 1999. Intensifying labour and input costs are a killer for companies with little pricing power. Seasonally…
In a published notice from the Australian Securities and Investments Commission (ASIC) last week, it was revealed that start-up superannuation fund GigSuper has entered voluntary liquidation. At a general meeting on 24 June, it was resolved that the company would be wound up and that principal at DW Advisory, Paul Gerard Weston, would be appointed…
Hello, it’s Harry here in Sydney. Here’s the news you need to start your day. Today’s must-reads:• Rex enters voluntary administration • BHP and Canva deals• Rio earnings Rex has entered into voluntary administration, the second domestic airline to fail this year in a market dominated by Qantas. Regional Express Holdings Ltd., as Rex is…
Business failures are on the rise in Britain, with several high-profile names lost already this year. But since the 1980s, the UK has made it a priority to throw a lifeline to struggling companies. It appears, however, that these efforts to enhance the law are being hampered by sloppy language in the media, increasing the…
End of a 50 year era as popular bakery goes into liquidation Lancashire Evening Post Read the original article here
Rex Airlines has announced it has gone into voluntary administration and cancelled all flights between major airports. A statement posted on Rex’s website on Tuesday said Regional Express Holdings Limited and a number of its subsidiaries under the Rex Group have entered voluntary administration. Ernst & Young Australia have been appointed administrators. The statement said…
Leaving Dentons Beijing Dacheng Law Offices, LLP (“大成”) is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons’ Preferred Law Firm in China, with offices in more than 40 locations throughout China.…
In short: A US judge has ordered conspiracy theorist Alex Jones′s personal assets be liquidated in order to pay $US1.5 billion to the families of the Sandy Hook shooting victims. Jones had claimed the 2012 school shooting that killed 20 students and six teachers was a hoax, leading to victims’ families being harassed. What’s next?…
Tasmanian Premier Jeremy Rockliff has expressed concern following the news that regional airline Rex has entered voluntary administration. Flights between Melbourne and Hobart have been cancelled for the indefinite future, while regional services to King Island, Burnie and Devonport remain in operation. In Parliament on Wednesday, the Premier emphasised the importance of maintaining aviation capacity…
Mumbai: Fortis Healthcare, Apollo Hospitals, Medanta and Max Healthcare are among half-a-dozen companies that have shown preliminary interest in acquiring Jaypee Healthcare, the last of the Jaiprakash Group’s priced assets to be admitted into bankruptcy. On Friday, the Allahabad bench of the National Company Law Tribunal (NCLT) gave an oral order to admit Jaypee Healthcare…