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.
OSBORNE Park builder Choice Living Homes has entered voluntary administration.Building Commissioner Ken Bowron temporarily suspended its building contractor registration last
After losing more than £30,000 from gambling, a Cardiff man said he became a “zombie” and cut himself off from family and friends.
Dave took out payday loans and lost his job because of the addiction.
In his second annual report, Gambling with our Health, chief medical officer Dr Frank Atherton said gambling is an emerging public health issue which can have “devastating effects”.
He said financial difficulty could lead to depression and alcohol misuse.
Dave (not his real name), who started using fixed odds betting machines at 23, said the impact of gambling had a toxic effect on his relationship with …
SYDNEY–(BUSINESS WIRE)–Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today
announced that Jim McKnight has joined the firm as a Managing Director.
He is based in Sydney and will lead the firms Financial Restructuring
efforts in Australia.
Mr. McKnight joins from Fort Street Advisers, where he was a Principal
and Head of Restructuring since 2013. Prior to Fort Street Advisers, he
spent more than a decade at UBS, where he was Head of Asia Pacific
Restructuring and Head of Debt Advisory for Australia. Mr. McKnight has
advised corporates, lenders, governments, and shareholders across a wide
range of sectors, including energy, real es…
Byrons creditors approved a CVA plan on Wednesday.
As many as 20 restaurants could close as a result.
Britains casual dining sector is suffering from a nationwide consumer spending squeeze.
LONDON Creditors of stricken burger chain Byron have voted almost unanimously to approve a company voluntary arrangement (CVA), which could result in as many as 20 restaurants closing.
99% of the firms creditors voted in favour of the proposal on Wednesday, which was initially proposed on January 8. The CVA needed 75% approval to pass.
A CVA is a restructuring effort that will help Byron cut its bills, and will include the closure of a number of restaurants. The number to be closed has not …
The Jersey arm of the UK’s second-largest construction company is being plunged into liquidation after buckling under a £200 million debt pile.
The English domiciled Carillion PLC went into liquidation in 15 January 2018.
Appointed to advise, a partner in offshore law firm, Carey Olsen, then appeared in the Royal Court of Jersey on Friday 26 January 2018 to apply for the appointment of Jersey liquidators over Carillion entities incorporated in Jersey.
By Kevin Lim Nikkei Markets SINGAPORE (Jan 31) — Singapore-listed Noble Group, responding to criticism of its latest debt restructuring deal, said the allegations that management was enriching itself at the expense of shareholders were unfounded.
“Management are essential to the company’s business because its core businesses are ‘people businesses’,” the company said in a statement to the Singapore Exchange, adding that it agreed during restructuring negotiations that management would get a 10% interest in the company initially.
“Any further grants will be subject to performance hurdles, will not vest if those hurdles are not achieved, and will be funded by loans from creditors that will need to be repaid before vesting…
Boris Becker has empathy for a troubled Bernard Tomic, the German tennis great calling for some perspective around the struggles of the young Australian, who walked out of a reality TV show saying he was depressed.
A former world No.17, Tomic has plummeted down the ATP rankings to 168 and his future on the court remains a mystery. Instead of being part of the Australian Davis Cup team in Brisbane, Tomic was making headlines for pulling the pin on Network Ten’s I’m A Celebrity Get Me Out of Here!
Former champions Boris Becker and Billie Jean King hold the men’s and women’s trophies at the Australian Open. Photo: AP
Becker, a three-time Wimbledon champion who is familiar with growing up in the spotlight, knows Tomic and…
Richard Lawrence from Hall Chadwick has been appointed as the administrator of the company, which was trading as Choiceliving WA.
Mr Bowron said this would trigger policies of home indemnity insurance and advised homeowners to contact their insurer to lodge a claim.
With the company now in administration, I encourage home owners to contact their insurer for advice on making a claim with a view to progressing their projects, he said.
LONDON–(BUSINESS WIRE)–Manolete Partners PLC, the UK Insolvency litigation funding specialist,
is delighted to report that it has completed a £10m expansion financing.
The additional new funds from HSBC Bank provide Manolete Partners with a
£10m Revolving Credit Facility at a maximum margin of 2.75% above base
rate.
The new financing facility will be used to fuel the continued rapid
expansion of Manolete which currently has 211 insolvency litigation
case investments (60 ongoing) making Manolete Partners PLC the largest
litigation funding company in the Northern Hemisphere, by volume of
single case investments. Manolete has recently been short…
HOME builder Choiceliving Homes WA has gone into administration, calling in insolvency and business recovery specialists Cameron Shaw and Richard Albarran.
Choiceliving appointed external administrators Hall Chadwick yesterday, days after WAs building watchdog declared it had suspended Choicelivings registration.
Last Thursday, Building Commissioner Ken Bowron declared the authority had suspended the registration of Choiceliving, registered as Choiceliving (WA) Pty Ltd, and was taking action against it in the State Administrative Tribunal.
That added to a December wind-up action by a Choiceliving creditor, Premier Ceilings, to be heard in the Supreme Court tomorrow.
Bricklayer Martin Neale, who said he was owed $6456.45 by Choiceliving Homes…
The newly appointed administrators of NQR have moved to reassure staff and customers its Kangaroo Flat store is operating as usual as they begin a search for buyers.
The grocery clearance company offers dramatic savings on weekly shopping bills and has 24 stores across metropolitan Melbourne and country Victoria.
Last week it entered administration and appointed Bruno Secatore and Luke Targett from corporate and personal insolvency firm Cor Cordis.
Mr Targett said NQR stores were continuing to trade.
We are just getting on top of all the issues that youd expect us to encounter. Our primary hope and objective is to get the business sold as a going concern so that stores and jobs are preserved, he said.
Whether youve overspent at Christmas, racked up a big bill on a much needed holiday or just have a guilty habit of carrying a balance on your plastic, carrying debt around on your shoulders is never fun.
And although figures from the Australian Banking Association recently showed that Aussies have cleared $260 million off our collective credit card debt last year, theres still a whopping $52.2 billion owing. Ouch.
But the good news is, there are plenty of options out there to help you clear that dark debt cloud and get your money back on track. So if one of your goals for this month is to blast your bad debt once and for all, take the first step by checking out some of our Mozo Editors picks for debt consolidation personal loans and ba…
Linc Energy was aware it was causing environmental damage to parts of Queensland’s Western Downs, but allowed operations to continue, a District Court jury has heard.
