Balcatta-based electrical, fire and security service provider Global Electrotech has gone into liquidation after creditors appointed DCS Advisory to the failed business, which owes about $1.2 million. Global Electrotech fell into the hands of WA Insolvency Solutions as administrators in 2013, but gained control several months afterwards with a deed of company arrangement, while the…
Troubled civil construction and mining services business Brierty has been placed in voluntary administration after failing to secure what it considered to be an adequate pipeline of future work. Brierty, which has failed to recover from both the mining downturn and cost blowouts on a Main Roads project last year, said it had appointed Matthew…
Question: My family business has been operating successfully for nearly 20 years. Over time I have also managed to get a few investors into the business. The last year, however, has been tough and we are struggling to make ends meet. I feel it is decision time about the future of the business, but…
Written by Sunny Verma | New Delhi | Published:September 6, 2017 1:26 am Amrapali Silicon City has defaulted on total repayment of Rs 71.15 crore, which comprise Rs 59.38 crore of principal overdue and Rs 11.77 crore of interest and penal interest. The National Company Law Tribunal (NCLT) has appointed Rajesh Samson of Deloitte Touche…
Barely a week after the collapse of embattled surf and skate wear retailer SurfStitch Group, administrators have received a proposal to restructure and relist the company an outcome that would preserve some value for long-suffering shareholders. The confidential proposal was received on Tuesday morning before the first SurfStitch creditors meeting at the company’s headquarters at…
Business News Legal Live Business By Chris Cooke | Published on Tuesday 5 September 2017 The company behind the two day Liverpool music festival Hope & Glory, which was called off half way through after severe over-crowding on day one, resulting in a series of car crash communications from organisers, has gone into liquidation. As…
The company behind a music festival that was cancelled on the second day has reportedly gone into liquidation. Hope & Glory Festival in Liverpool was pulled on 6 August following reports of overcrowding and acts that were cancelled at the last moment due to scheduling delays. Police were called to assist with an additional entrance…
Packer told Ten in January he wanted to pull out SYDNEY, AUSTRALIA – JUNE 14: It’s a dark for Channel Ten as the network announces it is entering voluntary administration on June 14, 2017 in Sydney, Australia. (Photo by Jessica Hromas/Fairfax Media) exit Ten Network’s board knew James Packer was not willing to continue as…
Ten Network’s board knew James Packer was not willing to continue as a shareholder guarantor a full six months before the company went under. A second creditor’s report released this week includes fresh detail on the demise of Ten including that Mr Packer had signalled in mid-January that he wanted no part in any new…
UPDATE, 8.30am: THE CFMEU is calling for a government inquiry into Roads and Maritime Services (RMS) tendering procedures after the collapse of the second sub-contractor on the Pacific Highway upgrade. Initial investigations by the CFMEU into the most recent collapse this week suggest a sub-contractor may have fraudulently provided statutory declarations claiming to have paid…