Mon Purse co-founder Lana Hopkins. Luxury leather goods retailer Mon Purse has entered liquidation and reportedly ceased trading, amid complaints from customers saying they have been waiting for weeks to receive their orders. Liquidators from Wexted Advisors are seeking urgent expressions of interest for the business and its assets, according to the Sydney Morning Herald,…
As we approach the end of the 2020 and enter the final week of eNewsletters,Ragtraderis reflecting on the biggest digital stories of the year. Each day this week we will count down the top 10 stories from the website this year. Kicking off our list is Number 10 –Colette in shock administration as another icon…
The non-financial corporate (NFC) sector in emerging markets and developing economies (EMDEs) entered the pandemic with elevated financial vulnerabilities and corporate debt currently stands at record levels: the World Bank estimates that non-financial corporate debt for EMDEs stood at 39.1 percent in 2019,1up from 34.9 percent in 2010; the BIS estimates a much higher level…
Mr Pitt said the final cost of decommissioning the vessel permanently moored in Commonwealth waters in the Timor Sea – between the Laminaria and Corallina oil fields – was still to be determined. But he insisted the government was pushing ahead with the process “to remove potential risks to the environment” and announced a new…
Many investors fret that a corporate zombiepocalypse may be one of the thorniest problems the global economy faces in the coming years. But a bombshell paper by the New York Federal Reserve argues that this fear may be overdone. Even before the eruption of coronavirus, concerns that a growing horde of walking-dead companies usually defined…
iSTOCK Turkish couple Gler and Ibrahim Kocatrk who were found by the ERA to be owed more than $80,000 by their former employers have been granted leave to continue court proceedings, despite the business being in liquidation. (File photo) A couple owed more than $80,000 by their former employers have succeeded in a bid to…
A training company whose state funding was cut after a Sunday Mail investigation into job agencies luring the unemployed into subsidised courses has collapsed into liquidation. It comes as nine companies remain under investigation by the State Government, which will consider hiking penalties for companies caught breaching contract rules under the training scheme. A special…
UK-based firms are facing losses of around 1.86 billion (appr. $2.46 billion) which could result from unpaid invoices, even though the nations businesses have received financial support from the governments COVID-19 relief packages. Red Flag Alert, an insolvency company that assists businesses with safeguarding their operations from financial risks, has revealed that UK firms may…
ASIC has commenced civil penalty proceedings in the Federal Court against Union Standard International Group Pty Ltd (Union Standard) (in liquidation) (trading as usgfx) and its former corporate authorised representatives, Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred) (in liquidation). ASIC alleges Union Standard provided financial…
Voluntary liquidation by members Voluntary liquidation by creditors When is voluntary liquidation triggered? Comment Chapter 113(III) of the Companies Law is the main legal framework which regulates the voluntary liquidation procedure in Cyprus. There are two ways in which voluntary liquidation can be triggered: by members or creditors. Voluntary liquidation by members Voluntary liquidation by…