Corrs Chambers Westgarth has hired Tim Gordon as a partner in its corporate practice in Sydney to focus on M&A transactions for listed companies, and Australian and international private equity funds, sovereign funds, multi-platform alternative asset managers and superannuation funds.

“We expect Tim to focus on coverage for global PE, domestic and international technology M&A opportunities, and to build on our strong relationships with leading independent firms,” Corrs senior partner and CEO Gavin MacLaren told Asia Business Law Journal.

Maclaren added that he continued to see growth opportunities in the Australian market, in particular in cross-border M&A. Australia’s M&A market had remained buoyant…

A Christchurch courier company owing more than $1.2 million has gone into liquidation after being placed under the control of the Official Assignee.

NJ & MS Holdings Limited, trading as Point to Point, was liquidated by order of the Greymouth High Court on 30 June following an application from the Inland Revenue.

The business, based at Johns Road in Northwood, was run by sole director and shareholder Taipua Feast. According to the liquidator, the company collapsed due to excessive overheads, inability to collect debts, lack of working capital, failure to meet tax obligations, economic conditions, the impact of COVID-19, and a breakdown in communications with a client.

The report shows Inland Revenue is owed $586,632, while unsecured…

Ecovis’ report said the company was in trouble for several months prior to the liquidators’ appointment, “caused by the current economic environment, high levels of debt, and exacerbated by a complete lack of governance on the part of the director”.

Ecovis said attempts to restructure the business failed, “culminating with an alleged misappropriation of a significant amount of funds by the director”.

Secured creditors, including Kiwibank and BNZ, were owed $6.7m while more than was $1m was due to preferential creditor Inland Revenue. Unsecured creditors were owed $2.5m.

The largest asset quantified as available to be realised was $2.2m in related-party receivables.

A day after it entered…

Finance minister Nirmala Sitharaman on Tuesday introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the Lok Sabha, by including provisions related to group insolvency, cross-border cases, and a creditor-led process to expedite resolution of bankrupt companies. The Bill was later referred to the select committee.

The much-awaited changes to the 2016-born Code, is expected to facilitate faster admission of bankruptcy cases and their speedier resolution. The additional provisions are also aimed at maximising asset value and improving governance, government sources said.

Key Reforms to Fast-Track the Insolvency Process

The creditor initiated insolvency resolution process (CIIRP) will provide an out-of-court…

A Christchurch courier company has buckled under financial pressure, owing creditors more than $1.2 million and leaving staff out of pocket.

NJ & MS Holdings Ltd is in debt by about $586,000 to Inland Revenue (IRD) and just over $632,000 to unsecured creditors, while staff claims are nearly $35,000.

The company, trading as Point to Point, was placed in liquidation on the application of IRD at the Greymouth High Court on June 30.

An official assignee from Insolvency & Trustee Service was appointed liquidator and released an initial report on August 7.

Previously registered under an office in Greymouth, the company’s sole shareholder and director is listed as Taipua Feast in the NZ Companies Office.

The business…

The latest inflation reading likely caused a collective sigh of relief among economists and consumers alike. According to the data, released today, the July Consumer Price Index rose just 2.7% annually, slightly below the 2.8% that experts had predicted. And, when you factor in the other metrics, like core inflation sitting at 3.1% and month-over-month increases…

The Indian government has introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, in the Lok Sabha, proposing significant changes to the existing law. The Insolvency Bill is designed to reduce delays, maximize asset value for stakeholders, and enhance the overall effectiveness of the insolvency and bankruptcy framework.

Key proposed changes

Creditor-Initiated Insolvency Resolution Process: The Insolvency Bill introduces a new “creditor-initiated insolvency resolution process” with an out-of-court initiation mechanism. This is intended to facilitate a faster, more cost-effective resolution for genuine business failures with minimal business disruption. The government believes this will ease the burden on…

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