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UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and
UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and
Workers and students alike have been left in the lurch after a Delacombe-based training provider went into liquidation late last week.
Journey Management in Delacombe was locked on Monday morning. Picture: Luka Kuazlaric
Staff at Journey Management in Kennedys Drive, Delacombe were informed the company had ceased to trade at close of business on Friday, July 13, and on Monday a liquidator had been appointed.
Debra Judith Blakeborough is listed as director and secretary of the company, having taken over both roles from Shane Malcolm Blakeborough in July 2017.
Mr Blakeborough had also been in charge of Geelong-based transport company Shane Blakeborough Logistics, which went into liquidation in late 2017.
Chinas economy grew 6.7% over the past year, in line with forecasts, but below the 6.8% level in the March quarter.
It was the slowest annual growth rate since the 2016 September quarter.
Monthly data on retail sales and urban fixed asset investment also printed in line with expectations, although industrial output missed badly to the downside.
Chinese economic growth slowed fractionally in the June quarter, as expected.
According to Chinas National Bureau of Statistics (NBS), GDP grew by 6.7% from a year earlier in line with forecasts maintaining the streak of either meeting or exceeding forecasts by 0.1 percentage points (ppts) in every quarter over the past three years.
UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and ceased training.
The department will be in contact with all Victorian Government-funded students explaining their options for further training, she said.
This is a difficult time for students and we will help them complete their training by transitioning them to a TAFE or, where this is not possible, another training provider contracted by the department.
The department will also be working with Hall Chadwick Chartered Accountants who have been appointed liquidators in providing assistance to students.
She said advice and support for students is available by calling the TAFE and Tra…
UPDATE 1.50pm: The state governments education and training department spokeswoman Katie Elliott said Journey Management Group had entered into liquidation and ceased training.
The department will be in contact with all Victorian Government-funded students explaining their options for further training, she said.
This is a difficult time for students and we will help them complete their training by transitioning them to a TAFE or, where this is not possible, another training provider contracted by the department.
The department will also be working with Hall Chadwick Chartered Accountants who have been appointed liquidators in providing assistance to students.
She said advice and support for students is available by calling the TAFE and Tra…
Phoenixing by companies that deliberately go broke has a direct cost of up to $5bn a year on business, employees and government, including a whopping $3bn owed to other businesses, a PwC report says.
Phoenixing is the deliberate and systematic liquidation of a company to avoid liabilities such as tax and employee entitlements then restarting the business to continue making a profit through separate trading entities.
The estimates are contained in a PwC report, to be released on Monday, along with an announcement from the minister for revenue and services, Kelly ODwyer, that the tax office has audited 340 businesses for involvement in phoenix activity in the last financial year, resulting in it issuing tax bills of $270m.
Tata Steel is gearing up to acquire Bhushan Power & Steel, going through insolvency proceedings, if it gets the requisite approvals.
Much like the Bhushan Steel deal, Tata Steel is keeping its financing arrangements ready and is sounding out people within the organisation for Bhushan Power & Steel.
As far as the financing is concerned, Tata Steel would take a short-term loan, the balance would be a mix of cash accruals and there could be possibly some leveraging at the holding company level.
Vehicle training company collapses, leaving workers and students in lurch
Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT
Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT
Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT
Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT
Journey Management Group’s Bendigo Skills Training Centre on Monday morning. Picture: NONI HYETT
A message on the Journey Management website this morning stated the company had ‘ceased operations due to government funding cuts’ and referred visitors to a not…
When she she looks back on her childhood, Noriko Tanaka isnt surprised she grew up to be a problem gambler. Her grandfather spent every spare moment playing pachinko a pinball-like game with payouts while her father bet regularly on bicycle races.
At home, they taught Tanaka how to stake money on card games before she had reached her teens. It was that kind of household, although no one drank alcohol, she said. Everyone lived for gambling.
She married an inveterate gambler, and by the time she was in her 30s realised that the casual bets she once placed on motorboat races had become a compulsion that had left her and her husband deep in debt.
As head of a group campaigning to raise awareness of gambling addiction, Tanaka now faces…
A company bidding for a stressed asset in the same sector in which it is operating will now have to get the Competition Commission of India’s (CCI’s) approval ahead of finalisation of bids during insolvency process, sources said.
This is a part of the latest round of amendments proposed by the government in the Insolvency and Bankruptcy Code (IBC) 2016. It will also include changes to bring down the cost of the resolution process for homebuyers, fixed deposit as well as debenture holders, sources said.
“These amendments are likely to be taken up by the Cabinet for approval in its next meeting as early as Wednesday,” sources in the corporate affairs ministry told DNA Money. “The IBC (Amendment) Bill will be tabled before Par…
Of course, writing too many loans that people cant afford will ultimately destroy shareholder value, if it all goes bad. But a little bit of mis-selling here and there? A little pushing of the boundaries of responsible lending to feed Australians obsession with homeownership? Sure.
The heat is coming out of the property market. Only half the properties that went to auction in Sydney and Melbourne on the weekend found buyers.
Photo: Peter Braig
Instead of disciplined scrutiny of borrowers financial accounts, banks have been found to have loan approval processes that rely excessively on so-called benchmarks of living expenses, with little – and sometimes no – attention paid to households actual costs, or their overall debt profile.
The government’s Phoenix taskforce conducted about 340 reviews and audits in 2017-18, raising more than $270 million in tax liabilities and collecting more than $190 million in cash.
Seven business people were also prosecuted with criminal charges, while 34 were banned from acting as a director.
But now the government wants to go further, and Revenue and Financial Services Minister Kelly O’Dwyer will announce on Monday the establishment of a hotline and website for people to dob in businesses directly to the Australia…
