As New Zealand businesses continue to face mounting financial pressure, one firm is urging owners not to wait until the only choice left is liquidation.
BWA Insolvency is a leading New Zealand specialist in voluntary administration (VA), a process that allows financially distressed companies to restructure and recover rather than collapse.
But despite its potential to save viable businesses, VA remains severely underutilised.
According to BWA Insolvency’s latest quarterly market report, more than 700 businesses entered liquidation in the most recent quarter – in contrast, just four opted for VA.
Bryan Williams, principal of BWA Insolvency, said the data reflects a widespread lack of awareness.
“We…
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A recent study has revealed that nearly a fifth (17 per cent) of Australian SMEs would collapse if they lost just one major client.
As revealed in ScotPac’s SME Growth Index Report, if businesses lost a key client, there would be an average revenue loss of 22 per cent.
Diversifying revenue streams is key to the survival of small businesses, said ScotPac CEO Jon Sutton.
“This feedback tells us that too many SMEs are just one shock away from collapse. Relying heavily on a single client or supplier can create serious vulnerability – especially in a volatile trading environment,” Sutton said.
“In challenging conditions, businesses that diversify their client base and secure flexible funding are the ones…
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Will Legacy Players Be Able to Squeeze Out Startups from India’s Electric 2-Wheeler Market?
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Case Title: Blossom Zest Flat Buyers Welfare Association v. Greater Noida Industrial Development Authority and Ors.
A plea has been filed before the Supreme Court seeking review of its judgment dated February 12, 2024 which classified Greater Noida Industrial Development Authority as a ‘secured creditor’ for the purposes of Corporate Insolvency Resolution Processes under the Insolvency and Bankruptcy Code (IBC).
Filed by a homebuyers’ association, the plea states that the impugned judgment has led the National Company Law Tribunal to send back many resolution plans to the Committee of Creditors for reconsideration on the ground that the same do not treat Noida/Greater Noida as ‘secured creditor’.
Case …
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Bruno Mars Again Jokes About Gambling Rumors: ‘Almost Out of Debt’ MSN
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Hong Kong actor and model Jacky Heung is being sued by a Macau casino operator for allegedly racking up at least HK$1.4 million (US$178,000) in gambling debts following a visit to the gaming hub last December.
In a writ filed with the Hong Kong District Court, MGM Grand Paradise said Heung had borrowed HK$2 million on December 1, 2024, from the operator of the MGM Macau and MGM Cotai casino hotels and converted the money into betting chips.
Under the terms of the loan, Heung was required to repay it on the same day.
But the company alleged that the 40-year-old actor had only paid back some of the money and still owed the casino HK$1.4 million.
The contract also stated that the casino could charge an annual interest of 18 per cent on…
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Trump Wants to Cut Deficits. Powell-Bashing, Stablecoins, and T-Bills Could Help. Barron’s
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Will Legacy Players Be Able to Squeeze Out Startups from India’s Electric 2-Wheeler Market?
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Muswellbrook’s Mayor has spoken out, following news one of the Shire’s coal mines is on the brink of collapse.
Jeff Drayton says some local businesses have been left hundreds of thousands of dollars out of pocket – as Dartbrook Mine is placed into administration.
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China’s GAC Fiat Chrysler JV declared bankrupt MSN
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Image: Jovannig/stock.adobe.com
It’s a case of another day and another Australian transport company exiting the industry, with Transtar Linehaul entering administration.
On July 7, the New South Wales based operator appointed Hamilton Murphy as administrators, with a first meeting held with creditors yesterday.
On Hamilton Murphy’s website, it has also called for expressions of interest in the company.
“Expressions of interest are sought for the business/assets of a company that provides linehaul services with a fleet of 46 European prime movers and 70 drop deck tautliner trailers,” the notice says.
MORE OWNERDRIVER TRENDING STORIES:
“Transtar Linehaul provides…
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Petition U/S 7 Of IBC Not Maintainable For Non-Return Of Expired, Uninvoked Bank Guarantee Under… Live Law
