Banks and other lenders must be breathing a sigh of relief, and celebrating an early “Christmas gift” from the Supreme Court of Appeal. The gift was delivered in Diener NO v Minister of Justice (926/2016) [2017] ZASCA 180 (1 December 2017). Two of the questions before the court were: whether or not a business rescue…
Major Perth architecture practice JCY has been placed into liquidation after being hit by the slowdown in work volumes, pricing pressures and losses on the Perth Childrens Hospital. JCY had 12 registered architects and 27 staff earlier this year, making it the eighth largest architecture practice in Perth, according to research by Business News for the…
Melburnians have been most likely to work as professionals, tradies, managers, salespeople and in administration since the turn of the century but who we work for has changed. More than a decade ago, Melbourne decoupled from the corporate giants once synonymous with this city and its employment market diversified, says urban economist Terry Rawnsley. More and more Melburnians work as tradespeople.. Photo: Louise Kennerley So despite…
Wollongong Coal is looking to improve its troubled finances which could be further hit by a long list of fines and unresolved legal claims worth more than $40 million by selling off just under 200 hectares of colliery land at West Dapto. Posting a half-yearly loss of $23.7 million, the Illawarra miner has also outlined…
The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India.(Representational image) The Mumbai bench of the National Company Law Tribunal (NCLT) has approved the liquidation of Gupta Coal India, sources aware of the development told FE. The Nagpur-based firm had filed a petition for the initiation of…
Coimbatore: Operational hurdles, including that from non-cooperative promoters and staff of company under insolvency process is forcing interim resolution professionals (IRPs) to move National Company Law Tribunal (NCLT). In a recent case involving ABG Shipyard, Sundaresh Bhat, the IRP, moved the Ahmedabad bench of the NCLT to stop an electricity company from disconnecting power supply…
Other peoples cat and mouse tactics set Jarrod Conroy on the path to commercial solar, the founder of Victoria and NSW business Roycon tells EcoGeneration. How long have you been installing solar? I was doing it as an apprentice back in 2011. Systems were pretty much free with the rebates at the time. It was…
Oroton stores will operate as usual after the 79-year-old Australian luxury handbag retailer collapsed into voluntary administration. The company says it has been unable to find a viable option for recapitalising or selling the business following a seven-month strategic review. Interim chief executive Ross Lane, the grandson of Oroton founder Boyd Lane, said there was…
The 79-year-old luxury handbag retailer has struggled financially in sales, resulting in $14.3 million in losses last year according to The Herald. This was compared to a $3.4 million profit the previous year. The company revealed this morning that an eight-month strategic review failed to find a “viable option” to secure its future. In a statement to the…
Bryan and Mai Hughes plan to launch My Foodie Kit in March. Picture: Simon Santi When you think of Bryan Hughes, corporate insolvency and hardcore business negotiations usually spring to mind. But the Pitcher Partners chairmans latest venture is a completely different flavour. He and wife Mai are launching meal-kit business My Foodie Box a…