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Category Archives: Liquidation

Building giant Grocon avoids liquidation – The Australian Financial Review

LiquidationBy Insolvency GuardianMay 27, 2021

He has promised to pay creditors out in full by winning Grocons dispute with Infrastructure NSW over the botched Cental Barangaroo project. Creditors will also receive net proceeds from any asset realisation sales, including the Eureka sub-penthouse occupied by Mr Grollo, which could be worth $25 million but is encumbered by mortgages. The revised DOCA…

Old listed companies follow super new path – Switzer

LiquidationBy Insolvency GuardianMay 26, 2021

The walls of the Melbourne headquarters of Equity Trustees (EQT) are adorned with the portraits of former prime ministers, premiers and governors-general who have served on the board of the stately 133 year old institution. The roll call of dignitaries includes 19th century premier Sir Charles Sladen, prime ministers Stanley Bruce and Robert Menzies and…

Why the fall in corporate insolvencies must not lead to complacency | TheBusinessDesk.com – The Business Desk

LiquidationBy Insolvency GuardianMay 26, 2021

By Phil Deyes from Leonard Curtis Leeds If I had received a 1 over the last 12 months for every person that has said to me that insolvency practitioners must be rushed off their feet, I would have had a tidy sum saved up by now! In fact, the number of insolvencies in England and…

Developers seek protection from insolvency for a year – Hindustan Times

LiquidationBy Insolvency GuardianMay 25, 2021

Real estate developers on Tuesday demanded protection from insolvency proceedings for at least a year as the sector had been severely hit financially due to the pandemic. They also wrote to the Centre and the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) seeking more time to repay loans. Section 7 of Indian Bankruptcy Code (IBC)…

One of Australia’s oldest listed companies follows super new path – Small Caps

LiquidationBy Insolvency GuardianMay 25, 2021

Equity Trustees now manages $30 billion of superannuation money up from $12 billion last year. The walls of the Melbourne headquarters of Equity Trustees (ASX: EQT) are adorned with the portraits of former prime ministers, premiers and governor generals who have served on the board of the stately 133-year-old institution. The roll call of dignitaries…

Virgin Australia is spooling up analytics engines for air travel takeoff – iTnews

LiquidationBy Insolvency GuardianMay 25, 2021

Virgin Australia is driving analytics into every corner of its revived business, creating a playbook for every business unit that can be used to drive growth and profitability as the airline sector recovers. Head of the analytics centre of excellence (COE) Paul Tran told the SAS Global Forum that the airline has elevated analytics to…

Families left with no homes following construction company collapse – 9News

LiquidationBy Insolvency GuardianMay 24, 2021

A Queensland single mother has shared her heartbreak of being left out of pocket and without a home after a building company’s collapse. Felicity Cameron told 9News former Queensland building company PlanBuild took her $10,000 deposit amid its soaring debt right before it went into liquidation. It’s left Ms Cameron standing on stones in her…

Arncliffe Youth Centre opened for all to enjoy – St George and Sutherland Shire Leader

LiquidationBy Insolvency GuardianMay 23, 2021

Arncliffe Youth Centre is now officially opened for all to enjoy. There were fears for the future of the youth centre after its builder was placed under voluntary administration in 2019. Bayside Mayor Joe Awada opened the Centre recently and said seeing the project through was all about community engagement. “The Arncliffe Youth Centre is…

Bankruptcy will not void personal guarantees: SC – Times of India

LiquidationBy Insolvency GuardianMay 21, 2021

TNNDelhi/Mumbai: Banks can look forward to improved recovery prospects from promoters of defaulting companies who have provided personal guarantees for corporate loans. The Supreme Court on Friday upheld the government notification of November 2019, which allowed banks to enforce the personal guarantee of the promoter if lenders are not able to fully recover their dues…

How the Corporate Insolvency and Governance Act 2020 Is Helping Struggling Football Clubs – LawInSport

LiquidationBy Insolvency GuardianMay 21, 2021

Friday, 21 May 2021 By Richard Barham When the coronavirus pandemic hit in Spring 2020, and the remainder of the 2019/20 football season was put on hold, there were widespread predictions of multiple football club insolvencies. In fact, since then, there have been very few (only Wigan Athletic and Bury have entered administration in that…

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