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.
Court of Appeal rules that an oil company’s hefty pre-insolvency dividend could not be justified an…
Court of Appeal rules that an oil company’s hefty pre-insolvency dividend could not be justified and must now be unwound.
The England and Wales Court of Appeal has allowed an appeal by energy companies TAQA and Spirit Energy over a restructuring that stripped a North Sea operating company of tens of millions of dollars shortly before its collapse. In a unanimous judgment handed down on 19 December, the court held that the transaction
With only a few days left to shop, many people are racing to check off those gift lists. But as NTV’s Beth Penney tells us, one debt solution expert is reminding residents not to go in the red this holiday season.
Ron Crouch Transport operates across four states and employs 120 people. Image: Ron Crouch Transport
A national, family owned transport company, in business for 47 years, has been placed into voluntary administration – as its owners seek a buyer.
Ron Crouch Transport is owned and operated by Geoff Crouch. Started by his parents, Ronald and Beverley Crouch, it operates from locations across New South Wales, Victoria, Queensland and South Australia.
In a statement released yesterday, Geoff Crouch confirmed the news. “It is with the heaviest of hearts that I have had to take the necessary action of placing Ron Crouch Transport under the control of a Voluntary Administrator,” he said.
Mumbai: Voluntary liquidation is rapidly emerging as the preferred route for company promoters seeking to wind down operations, rather than prolonging unviable businesses and absorbing mounting losses alongside compliance costs. Since the inception of the Insolvency and Bankruptcy Code (IBC), about 2,417 companies initiated voluntary liquidation, of which final reports have been submitted in 1,867 cases as of September-end.Section 59 of the IBC covers voluntary liquidation, allowing solvent companies that have completed their purpose or become unviable to wind up, sell assets and distribute capital to shareholders, unlike insolvency proceedings that apply only in cases of default.
Mumbai: Voluntary liquidation is rapidly emerging as the preferred route for company promoters seeking to wind down operations, rather than prolonging unviable businesses and absorbing mounting losses alongside compliance costs. Since the inception of the Insolvency and Bankruptcy Code (IBC), about 2,417 companies initiated voluntary liquidation, of which final reports have been submitted in 1,867 cases as of September-end.
Section 59 of the IBC covers voluntary liquidation, allowing solvent companies that have completed their purpose or become unviable to wind up, sell assets and distribute capital to shareholders, unlike insolvency proceedings that apply only in cases of default.
A select few customers of a collapsed Australian caravan maker have been able to hitch-up their vans and hit the road, but new allegations of trading insolvent have been launched at the embattled business.
Zone Manufacturing Pty, trading as Zone RV in Coolum Beach on the Sunshine Coast, is one of Queensland’s largest RV manufacturers.
It collapsed earlier this month into voluntary administration leaving about 200 customers in limbo who had paid deposits and hundreds of staff without a job.
A former AFL star has been able to wipe millions of dollars in company debt and reopen the collapsed business a few hundred metres down the road, despite owing $4.5 million to staff, suppliers and the tax office.
Chris Knights, a former Adelaide and Richmond footballer, is the chief executive of marketing agency Zib Digital, which engaged in a process known as ‘legal phoenixing’, which allows a company to wind up and start again.
Mr Knights told staff in May he was closing the company’s doors, leaving about a third of its workforce without a job or their owed entitlements.
A former employee said staff were given a day’s notice that “we were surplus … and the business was put into administration”.
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Craig McDermott, an Australian Ashes hero known for his fiery, high-speed bowling that left English batsmen quaking, was once declared bankrupt due to a debt of tens of millions from a failed property business. McDermott was the spearhead of the Australian attack in the late 1980s and early 1990s. He achieved eight five-wicket hauls in Ashes Tests, including record figures of 8/97, and took an impressive 32 wickets in his final full series before injuries began to impact his career.
However, post-cricket life proved more challenging for McDermott as he ventured into the business world. The Queenslander was compelled to file for bankruptcy after a speculative business venture went disastrously wrong, leaving him with a £20m deficit….
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If plans are made to provide liquidity support, liquidate or merge finance companies, such actions will be implemented in accordance with the ordinance.
TBS Report
21 December, 2025, 10:00 pm
Last modified: 21 December, 2025, 10:12 pm
Bangladesh Bank/File Photo
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Bangladesh Bank/File Photo
Measures including liquidity support, liquidation and mergers of finance companies will be carried out under the Bank Resolution Ordinance 2025, Bangladesh Bank has said.
In a circular issued today (21 December), the central bank’s Bank Resolution Department…
