Insolvency Guardian Media Centre
A Brisbane trucking company has collapsed into voluntary administration after 23 years of operation.
ASIC records show Newnham Trucking, based near Logan in Brisbane’s south, entered voluntary administration this week after it stopped trading in June.
The Courier Mail reported the company owed about $1m in debts.
A creditors’ meeting has been scheduled for next week to receive an administrator’s report and statement about the business and whether it should be wound up.
The company is owned by Graeme Newnham, who also operates…
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Occidental Petroleum (OXY) shares climbed 0.92% on September 2, extending a four-day winning streak with a cumulative gain of 4.37%. The stock hit an intraday high not seen since September 2025, rising 1.03% during the session, signaling renewed investor confidence amid strategic operational shifts and debt management efforts.
Recent performance reflects the company’s focus on capital efficiency and Permian Basin expansion. OXY has prioritized high-margin drilling projects in the region, aligning with a revised capital strategy aimed at cost control and production flexibility. These moves underscore management’s commitment to optimizing asset utilization and balancing debt reduction with shareholder returns through dividends and…
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Facebook App: Open links in External Browser
There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a defect in the browser which should be addressed soon. The simplest approach to avoid this problem is to continue to use the Facebook app but not use the in-app browser. This can be done through the following steps:
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Bankrupt airline Go First now faces a lawsuit over missing tyres leased to it by the Japanese tyre maker Bridgestone. The tyre company, which had leased 1,400 tyres to the airline at $200-700 per tyre per month, now wants them back.
Its Thailand subsidiary, Bridgestone Aircraft Tire Manufacturing (Thailand) Company, has petitioned the National Company Law Tribunal (NCLT) in Delhi, arguing that the tyres were leased and not sold to the airline, and therefore couldn’t be included in the assets to be liquidated.
“The main point was that tyres for Go First aircraft were leased and not sold and therefore were not the property of the bankrupt airline….
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Trucking company collapses with $1m debt The Australian
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The meeting was told an investigation was ongoing into whether the business had traded while insolvent – meaning the business continued operating despite being unable to pay its debts. If proven, Kellock could be personally liable for some of the unpaid debts.
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“[Which means] the parties could pursue them [the directors], and if they can’t pay, they could potentially be made bankrupt,” Gammel said.
The company owes at least $391,000 to employees and a total of more than $2.9 million to unsecured creditors. About $382,000 of that is debt from related-party loans.
Gammel confirmed that employees would only be paid after BizCap – a secured creditor that had loaned money to the business.
“We’re working on trying to get some…
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The meeting was told an investigation was ongoing into whether the business had traded while insolvent – meaning the business continued operating despite being unable to pay its debts. If proven, Kellock could be personally liable for some of the unpaid debts.
Loading
“[Which means] the parties could pursue them [the directors], and if they can’t pay, they could potentially be made bankrupt,” Gammel said.
The company owes at least $391,000 to employees and a total of more than $2.9 million to unsecured creditors. About $382,000 of that is debt from related-party loans.
Gammel confirmed that employees would only be paid after BizCap – a secured creditor that had loaned money to the business.
“We’re working on trying to get some…
Read the original article here
SINGAPORE – An undischarged bankrupt misappropriated about $470,000 from more than 200 people who had signed up for a package to perform the umrah – an Islamic pilgrimage to Mecca in Saudi Arabia.
The customers received no news about arrangements for the trip, and found out in November 2015 that it would not take place.
Suwandi Marchuke, 58, was initially expected to be sentenced on Sept 3
, but his mitigation and sentencing will now take place on Oct 16.
After a trial, District Judge Shaiffudin Saruwan convicted him in July of one count each of criminal breach of trust and acting as a manager of a company called Bil Hikmah Consultants from around September 2014 to March 2016 while he was a bankrupt.
The judge also found…
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A Brisbane trucking company has collapsed into voluntary administration after 23 years of operation.
ASIC records show Newnham Trucking, based near Logan in Brisbane’s south, entered voluntary administration this week after it stopped trading in June.
The Courier Mail reported the company owed about $1m in debts.
A creditors’ meeting has been scheduled for next week to receive an administrator’s report and statement about the business and whether it should be wound up.
The company is owned by Graeme Newnham, who also operates Express-West Transport and Newnham Trucking 2.
Newnham Trucking’s collapse follows XL Express entering administration with a reported $41.9m in debts in June, and trucking company DJK Transport going into…
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BDO Debt Solutions Inside Halton