THE futures of more than 200 Ostwald Bros workers will be decided today in Toowoomba, with the liquidation of the struggling civil construction firm likely after no buyer was found. Ostwald Bros Pty Ltd, which is one of three entities that make up the company, will be voted on by hundreds of unsecured creditors this…
Australia’s 79-year-old luxury handbag retailer Oroton has collapsed into voluntary administration after failing to find a buyer. The company says it was unable to find a viable option for recapitalising or selling the business following a seven-month strategic review. Interim chief executive Ross Lane said there was no other solution that could achieve a better…
OROTON stores will continue to trade and employ staff on a business-as-usual basis while administrators attempt to find a buyer for the struggling luxury handbag retailer. The company was placed into voluntary administration on Thursday, following a series of shock earnings downgrades earlier this year amid challenging trading conditions, prompting a strategic review of the…
WHOLESALER P&H has become the latest company to go into administration leaving employees out of a job. The company, which provides tobacco to some of the UK’s largest supermarkets, has been crippled by debts and 2,500 jobs have been lost. PA:Press Association What does going into administration mean? When a company enters administration, all control…
PROCEEDINGS have been launched against key figures in the 2013 collapse of Walton Construction which left Sunshine Coast subcontractors unpaid $3 million. Liquidator Grant Thornton has launched breach of directors’ duties actions including aiding and abetting against the company’s sole director Craig Walton and Pat McCurry and Phillip Spry of business advisor Mawson. The liquidator…
by Duncan Hughes eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a ‘major financial institution’ after being placed into voluntary liquidation because of unsustainable debt. Tony Wales, a director of eChoice and Welas, a private investment company, which is a secured creditor of eChoice, called in liquidators’ Rodgers Reidy…
People running labour hire companies that exploit workers and dodge tax will face up to three years in jail under laws that have passed South Australia’s Parliament. The laws were sparked by a Four Corners investigation that found extreme exploitation and slave-like conditions in the food production industry, mostly affecting workers employed by labour…
Meanwhile, eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a ‘major financial institution’ after being placed into voluntary liquidation because of unsustainable debt. Tony Wales, a director of eChoice and Welas, a private investment company, which is a secured creditor of eChoice, called in liquidators’ Rodgers Reidy after deciding…
PACIFIC Highway subcontractors are preparing to ramp up their fight for months of unpaid wages from one of the project’s primary contractors, which went into voluntary administration earlier this year. About 200 highway workers who completed the Glenugie to Tyndale section of the Pacific Highway upgrade have been left without months of pay after Darling-Downs…
Assured Legal Solutions is set to formally welcome its co-founder, Chris Cruikshank, from Norton Rose Fulbright (NRF) on Friday. The appointment will bring the specialist boutique firms lawyer headcount to six. Cruikshank resigned from the NRF partnership in Australia in September and was just serving his notice period. He joins former NRF special counsel Nicola…