If your company has fallen on hard times, whether it be due to the financial strain of Coronavirus or an unrelated situation, it is vital to take immediate action. The best first step is to review our insolvency indicators and then become familiar with the Insolvency Guardian insolvency checklist. Taking immediate action when insolvent is vital, as companies…
Bradley Wiggins has placed a third company into liquidation with debt of 141,000 following the liquidation of two other companies back in late October. The 2012 Tour de France winner has wound up a company named 101 Ride Limited, of which the sole director is his estranged wife Catherine Wiggins. It’s not clear what purpose…
Hundreds of Australian students were facing the collective loss of more than $2 million they paid in advance for overseas school trips after a travel company went into liquidation. Key points: A firm has been appointed liquidator for Educational World Travel (EWT), being used to organise end-of-year student tours to the United States for 2021.…
Pensions schemes with sponsors facing severe economic difficulties due to Covid-19 must prepare for the lifting of temporary protections from corporate insolvency at the end of the year, Aon says. Pensions schemes with sponsors facing severe economic difficulties due to Covid-19 must prepare for the lifting of temporary protections from corporate insolvency at the end…
Articulous Business as usual for Black & White Cabs after P2P Transport goes into voluntary administration Black & White Cabs former owner and taxi industry veteran Greg Webb has announced he is leading a group of investors who will recapitalise and then acquire the cab company after its holding company, P2P Transport Limited entered into…
Melbourne events signage company Signex Group and its wide format print business Prologica Digital Print have entered voluntary administration and called a first meeting of creditors for next week. Signex co-owner Doug Pieper is looking to restructure the business and hopes to be out of the administration process before Christmas. (photo: Signex Group) “We’ve done…
Covid-19 may create stress on External Commercial Borrowings (ECB) and guarantees issued for overseas borrowings of Indian corporates. The consequences will not only be bitter for the corporates but also for the larger fraternity of creditors in India, in case a cross border insolvency framework is not implemented at the earliest. In 1996, a prominent…
Learning to recognise early signs of trouble, and partnering with an insolvency expert, can help public practitioners save their clients from going under. At a glance Challenging market conditions have resulted in many small businesses operating on the brink of insolvency. The best outcomes can be achieved when businesses, tax practitioners and insolvency experts partner…
Celebrity chef Jock Zonfrillo has voted to settle the debts of his failed Adelaide restaurants by paying major creditors between five and 10 cents in the dollar, against the wishes of the Australian Tax Office. Key points: Jock Zonfrillo’s restaurants in the East End of Adelaide’s CBD have closed Most creditors will receive between five…
Rationale Asset Management PLC, Value Asset Management PLC and Merydion Corporation Limited were involved in property investment and were previously placed into provisional liquidation in the High Court. A provisional liquidator was appointed and the Official Receiver has responsibilities to protect assets in the possession or under the control of the companies pending the determination…