Member Article The year-on-year level of corporate insolvency has risen for a third consecutive month, highlighting the continuing impact of the pandemic on North East businesses. The latest corporate insolvency figures for England and Wales reveal a 70.4% increase in Creditors Voluntary Liquidations in July compared to July 2020, suggesting an increasing number of directors…
Hundreds of employees and participants of one of Australia’s largest disability service providers face an uncertain future with the organisation entering voluntary administration. Key points: Disability Services Australia have appointed KPMG as their administrators DSA’sCEO says the company faced financial constraints, compounded by the pandemic Shadow NDIS Minister Bill Shorten says the federal government’s “savage…
Disability Services Australia is headed into voluntary administration, leaving questions about how much the disability support sector can take in the pandemic. (Image: Adobe) One of Australias largest disability service providers, Disability Services Australia (DSA), has gone into voluntary administration following financial constraints compounded by COVID-19. National Disability Insurance Scheme (NDIS) participants and support companies…
The year-on-year level of corporate insolvency has risen for a third consecutive month in the North East, highlighting the continuing impact of the pandemic on businesses in the region, according to a new report. The latest corporate insolvency figures for England and Wales reveal a 70.4 percent increase in creditors’ voluntary liquidations in July 2021…
The pandemic has taken its toll on one of Australias largest disability service providers with the organisation calling in administrators and leaving thousands of staff and participants across NSW in limbo. Disability Services Australia called in KPMG to oversee its voluntary administration on Wednesday, but moved to reassure participants and staff the organisation would continue…
Cabin crew and ground staff at Jet Airways (JAI, Mumbai Int’l) have united to challenge the Kalrock-Jalan consortiums proposal to revive the airline, expressing concerns about unpaid salaries and retirement benefits, and have filed a petition on the matter to the National Company Law Appellate Tribunal (NCLAT), the Press Trust of India reported. The Jet…
Tigerlily is welcoming Travis Wright as its new CEO, the former General Manager of e-commerce retailer, Esther & Co. Wright landed the role as CEO after six and a half years as the General Manager of Esther & Co., an Australian online womenswear retailer. During her tenure at the fashion brand, she and her team…
Business Standard Referring to the pre-pack scheme of insolvency resolution for micro, small and medium enterprises (MSMEs), he says it takes three-six months for the market to understand a new framework TopicsInsolvency and Bankruptcy Code|IBBI|bankruptcy proceedings Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S SAHOO says 90 per cent of companies applying for…
The government is considering objective and transparent guidelines for committee of creditors (CoC) mainly banks and financial institutions — signing off on resolution plans under Indias bankruptcy code, after some excessive haircuts agreed to by such CoCs were questioned by the National Company Law Tribunal and even a parliamentary panel, two people familiar with the…
A RISING number of bosses have decided to close their businesses after spending well over a year trying to survive the pandemic, an insolvency expert says. Corporate insolvencies fell slightly in July compared with the previous month, but year-on-year figures were up substantially for the third month in a row. Southampton-based Mike Pavitt, immediate past…