Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Aaron Salvestrin was once touted as a rising star of the industry. Photo: Sans Pareil.
Griffith winemaker Aaron Salvestrin declared himself bankrupt just seven days after the Supreme Court ordered him to pay back several million dollars to creditors, an exclusive Region investigation has revealed.
The 29-year-old’s winery Sans Pareil Estate went into liquidation in October 2022 and was alleged to have received up to $17 million from the Australian Taxation Office (ATO) from “fraudulent” GST refund claims.
In 2023, the liquidator, Gavin Moss, launched Supreme Court proceedings to recover money from Mr Salvestrin. He alleged the company director made several “personal” transactions that did not benefit the business and therefore…
We are registered liquidators and registered bankruptcy trustees, with more registered bankruptcy trustees than any other private practice/brand in Australia. Complementing our insolvency brand are Principals with certified fraud examiner and forensic accountant qualifications.
Regarding corporate insolvency appointments, the economic impact of COVID-19 played out very differently to the GFC.
Australia Read the original article here
Last week I scored a trifecta, managing to upset people in three ways.
First, for my supposed “anti-immigration stance”, second, for hating on Elon Musk (the bromance is still strong with some readers, even though his car company is as bad as the rest in terms of spying on drivers) and, finally, from animal lovers (one lady threatened to report me to the RSPCA for cruelty to sheep — even though I was just using an analogy. Baaaah!).
Here’s one.
Yvonne writes: I’ve just read your piece on limiting immigration because of the housing crisis.
What a load of claptrap. You’ve taken a complex and highly emotive issue and boiled it down to one simplistic factor: housing.
As you know (though it doesn’t fit your populist argument) it’s…
Crippling interest rates and sky-high prices of everyday items, from a bag of concrete to a cup of coffee, are behind record business insolvencies in Australia, research shows.
The collapsing outlook for business, especially small companies, has been highlighted in CreditorWatch’s business risk index.
In the year to May, insolvencies reached a record high of 1378, a 38 per cent increase in the rate of business failures.
Insolvencies have reached a new high, according to new data. (SMH / Kate Geraghty)
Electricity, gas, water and waste services topped the list of industries by rate of increase in insolvencies, with an 89 per cent increase year-on-year, followed by education and training (87 per cent) and mining (72 per cent).
Dozens of Australian families have been affected by the sudden collapse of yet another space camp tour company, leaving parents up to $13,000 out of pocket.
This time, students from Melbourne’s Korowa Anglican Girls’ School have been impacted by the collapse of space camp provider Actura Australia going into liquidation* on June 14.
The 16 students who paid around $13,000 each were due to leave on June 29, with one mother saying her daughter and other students and teachers are “devastated”.
The school’s principal Frances Booth said she was “very upset to hear of the liquidation of Actura late on Friday evening”.
“We are working with our insurers* and other relevant parties to explore all possible avenues of support for our…
DWS, the German-based asset manager with nearly $1 trillion assets-under-management, has hired Jay DeWaltoff to lead the firm’s U.S. real estate debt platform and help grow the company’s global private credit business.
DeWaltoff comes from J.P. Morgan Asset Management, where he headed its commercial mortgage loan group over 11 years and specialized in raising capital, building investment portfolios, and approving all new investments.
In a relief to homebuyers who had been given possession of their homes but were left in a lurch after the builder’s company was declared insolvent, the Insolvency and Bankruptcy Board of India, in its latest amendment, has said that assets in a real estate project that have been handed over to the allottees would be exempted from liquidation process.
The Insolvency and Bankruptcy Board of India, in its latest amendment, has said that assets in a real estate project that have been handed over to the allottees would be exempted from liquidation process. (Picture for representational purposes only)(Pixabay)
The notification dated February 12 said: “For the purposes of clause (e) of sub-section (4) of section 36, wherever…
Dear Amy: I just learned that my wife’s spending is out of control.
Several years ago, she got into financial trouble with a credit card debt of around $6,000. She told me about it and I bailed her out.
Last week, she said it had happened again. I took a look at her credit card statement and saw she was owing on charges left over from Christmas and some vacation travel we had taken. I agreed to help her out again.
Then she admitted to me that she had another card and that she owes almost $10,000 on it, due to gambling.
This is very shocking. I didn’t even know she gambled. She feels terrible. I could probably cover this, too, but I don’t know if that’s the right thing to do.
In a shocking turn of events that has left Britain’s third-most decorated Olympian “embarrassed”, Sir Bradley Wiggins, who was declared bankrupt last week, has been forced to sleep on the couches of friends and families and is basically homeless, after his lawyer revealed that he “has lost lost absolutely everything” and “doesn’t have a penny”.
News broke last weekend that Wiggins, who retired in 2016 after a glittering professional cycling career, becoming the first British rider to win the Tour de France and winning eight Olympic medals, five of them gold, was declared bankrupt. He could also be forced to sell all his trophies and medals — including his bespoke Tour trophy that he won in 2012.
About the Organisation: The Centre for Advanced Research on Corporate and Insolvency Laws (CARCIL) is a Centre of Excellence to facilitate the highest standards of research in Corporate Law, Governance, Insolvency, and Allied Laws in India. The Centre aims to provide a platform to carry out research projects, organise academic workshops, lectures, and conferences, conduct faculty development programs etc., and work towards the advancement of Corporate and Insolvency Laws in India.
About the Seminar/Conference: The 2nd CARCIL-CNLU National Conference on Corporate & Insolvency Laws seeks to provide multi-disciplinary platform for researchers, practitioners and educators to discuss about corporate and insolvency laws and delve into…
