Liquidations surge to near post-GFC highs

Briefly in Aotearoa’s political economy on Tuesday, February 3: The Lead: Just when the Government is hoping voters will feel the ‘green shoots’ of an economic recovery ahead of the November 7 election, the headlines are instead showing another surge in company liquidations and cost of living pressures. Paying subscribers can see more detail below…

ASIC cancels AFSL of timeshare company

The regulator has cancelled the Australian Financial Services licence (AFSL) and credit licence of Ultiqa Lifestyle Promotions Limited. Ultiqa Lifestyle Promotions, which is in liquidation, has seen its AFSL and credit licence cancelled following an Australian Financial Complaints Authority (AFCA) determination. On 28 June 2024, AFCA made a determination against Ultiqa, which it failed to…

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Rise in the number of business failures in Wales

Insolvency and restructuring trade body R3 has also released new data on business start-ups in Wales Chair of R3 in Wales Bethan Evans. Business failures have risen in Wales according to insolvency and restructuring trade body R3. Insolvency-related activity, which includes administrations and creditors’ meetings as well as voluntary and compulsory liquidations, rose from 844…