A New South Wales council awarded nearly half a million dollars’ worth of work to a building company run by a formerly bankrupt businessman responsible for multiple company collapses.

Anthony Falconer, 63, from Killcare on the Central Coast, has directed three failed civil construction companies in the past few years.

It has also been suggested in a public report that Mr Falconer may have been operating as a “shadow director” while bankrupt at a fourth business that also failed, which he has denied.

Creditors across all four businesses stretch from Tasmania to far north Queensland, with more than $2 million of debt, and include the tax department.

Secret reports into liquidated companies

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Both companies have cited the hangover of Covid and an economic downturn as factors for going bust.

One of the owners has also taken aim at the IRD over what he claims are excessive tax penalties. The liquidator has not accepted that claim.

Alexanders Apparel Ltd

Alexanders Apparel Ltd was nearing its 50th anniversary when it went into voluntary liquidation on September 1.

Its long-standing store in Napier, Alexanders on Tennyson, has shut its doors.

However, its second store, Alexanders Havelock North, remains open and is selling down stock at a reduced price to assist the liquidation process.

Its online store is also continuing for…

Both companies have cited the hangover of Covid and an economic downturn as factors for going bust.

One of the owners has also taken aim at the IRD over what he claims are excessive tax penalties. The liquidator has not accepted that claim.

Alexanders Apparel Ltd

Alexanders Apparel Ltd was nearing its 50th anniversary when it went into voluntary liquidation on September 1.

Its long-standing store in Napier, Alexanders on Tennyson, has shut its doors.

However, its second store, Alexanders Havelock North, remains open and is selling down stock at a reduced price to assist the liquidation process.

Its online store is also continuing for…

On August 28, shareholders resolved to appoint Raymond Cox and Gareth Hoole of Ecovis KGA as liquidators. In a report released on Friday, the liquidators said the company’s directors, David Christensen and Colin Dawson, had explained that the company was unable to raise further capital.

“The directors have advised the liquidators that the technology developed by the company required further capital to be introduced to take it to a fully commercial stage, but that there was not an appetite on the part of most of the shareholders to make that additional capital commitment.

Their first report identified assets of $111,309 and liabilities of $2.75m, including $1.4m of convertible notes yet to be converted. Unsecured creditors owed…

“We play with open cards and have only good intentions, so we have nothing to hide,” Prime Minister Orbán said. He contrasted this approach with what he described as the deceitful practices of the opposition, referencing a leaked internal opposition quote—”We can’t tell the truth or we’ll lose the election; first we win, then we can do anything.”

PM Orbán added, “Gyurcsány and his people had more sense. They waited until after the election to announce they had lied. These new ones admit it beforehand.”

He announced a new national consultation, focusing on what he called “the Tisza Party’s secret tax plans.” The consultation, he said, would be a way to engage the public directly in shaping the country’s economic…

The Mohegan Tribal Gaming Authority is moving forward with its legal fight against Ron Meyer, the former Hollywood executive, over an alleged unpaid gambling balance of nearly $2.8 million. Court documents filed in Connecticut outline the authority’s effort to prevent Meyer from securing a jury trial, insisting that the agreements he signed before gambling bind him to Mohegan law, which does not allow for jury trials in civil disputes.

A $5 Million Loss and Years of Repayment

The case stems from October 13, 2017, when Meyer reportedly lost $5 million in a single day at Mohegan Sun. According to the tribal authority’s complaint, Meyer issued six checks—referred to as markers—ranging from $500,000 to $1.5…

The government is planning to have a more foolproof mechanism to foil the chances of company promoters diverting funds fraudulently before filing for personal insolvency. 

As per a new section 164A introduced in the Insolvency and Bankruptcy Code (Amendments) Bill, 2025, the resolution professionals (RPs) can approach National Company Law Tribunal (NCLT) to bring all kinds of |”avoidance transactions” back into the pool.

Closing loopholes in personal insolvency cases

Experts said that this section will discourage personal guarantors from hiving off assets before filing for bankruptcy under the Code. “The proposed section 164A of the IBC empowers the adjudicating authority to claw back undervalued transactions in cases of…