Evergrande is fighting for its life. On October 30th the property developer was granted its fifth, and probably final, stay of liquidation by a court in Hong Kong. Yet the situation on the mainland is a little more comfortable: the firm’s representatives have not even had to visit a courtroom. This is not unusual. Despite the many horrors visited upon China’s property sector, an industry publication reports that just 308 of the country’s 124,665 developers declared bankruptcy last year.

The Courier-Mail Essentials $16 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. This subscription entitles you to access 30 locked articles on The Courier-Mail website only within each subscription period, and does not include access via the app. Any unused articles in your allocation per subscription period will not carry over to the next subscription period. This subscription does not provide access to the +Rewards program. Prices may be varied as per full Terms and Conditions. See www.couriermail.com.au/subscriptionterms for full details.

Millions of Australians have struggled to make debt repayments over the last 12 months, according to research by the Australian Securities and Investment Commission’s (ASIC) Moneysmart program.

The rising cost of living, reduced income, and unexpected expenses were the…

The report said considerable expenditure was required to set the businesses up with fixtures and fittings. The company then faced issues with obtaining a liquor licence for one of its bars due to the conduct of the bar that previously operated from the same site.

SugarWoods bar was situated where The Establishment bar used to be before Ubiaga bought it from Andrew Gibson.

The Establishment was once said to be one of the highest-risk licensed premises in the city, according to authorities reviewing a liquor licence renewal in 2021 – which was ultimately denied. That application had been made by the previous owner, Gibson.

A statement of financial affairs for SugarWoods prepared by the liquidators showed…

Independent cinema chain Majestic Cinemas, which operates nine sites across northern NSW and south-east Queensland, has entered voluntary administration, citing reduced box office due to the impact of COVID-19 and the US strikes on production and release schedules, as well as rising costs and natural disasters, including floods and fires, in the region.

The cinemas remain open to the public and trading. Administrators will deal with creditors and look at ways to restructure the business so that it can trade profitably into the future at as many of the current sites as possible.

In a statement, the board said they believed this the best course of action, with the hope a restructure will place…

Kester Black has quietly emerged from voluntary administration and its founder Anna Ross has departed as a director of the business, with the prominent beauty brand now in the hands of its managing director.

Launched in Melbourne in 2014, Kester Black offers vegan and cruelty-free nail polishes, lipsticks and skincare products.

The business experienced rapid success, building a dedicated following of ethically-minded consumers, and a reputation as one of Australia’s fastest-growing cosmetics brands.

That trajectory changed on July 9, when the company trading under the Kester Black name appointed Stephen Dixon of Hamilton Murphy Advisory as voluntary administrator.

Documents listed by the Australian Securities…

“I even had to find work as an e-hailing driver as my savings are gone,” he told a press conference organised by the Malaysian Chinese Association’s public services and complaints department head Michael Chong in Kuala Lumpur on Thursday.

Wong said that shortly after the debts were paid, his son went to a rehabilitation centre for gamblers and appeared to turn over a new leaf.

“However, on June 2, I discovered that someone had posted a photo of me and my wife on Facebook, with the caption ‘wanted’,” he said.

“I also received a call from my other son, telling me that an ah long (illegal moneylender) had contacted him, saying his brother had a 12,000 ringgit debt with them. The ah long threatened to hire a gang to come after…