Oceania

Results for Oceania

First Rise In Bankruptcies Since 2009

The number of people going bankrupt has ticked up for the first time since 2009 when fallout from the global financial crisis reached its peak, The New Zealand Herald reported. Figures from the Insolvency and Trustee Services show 1979 people went ba ...

Daily Headline - global.abi.org - 07/26/2015 - 21:23 - 0 comments

Union Calls For Insolvency Inquiry To Visit Adelaide After Tagara Builders' Collapse

An inquiry into insolvency in the construction industry should visit Adelaide to listen to the experience of the building industry in the wake of the collapse of Tagara Builders, according to a union official, ABC News reported. Tagara had about $70 mill ...

Daily Headline - global.abi.org - 07/13/2015 - 20:54 - 0 comments

National Guarantee Fund To Lift Its Game After BBY Collapse

The National Guarantee Fund, a compensation vehicle for investors, has admitted it does not currently have the resources to handle a jump in claims from the collapse of BBY, and is seeking to rectify the situation, The Sydney Morning Herald reported. ...

Daily Headline - global.abi.org - 07/08/2015 - 18:20 - 0 comments

Cross-Border: Can a Bankrupt's Pension be used to Pay Creditors? The Search for Clarity in New Zealand and the UK

How does the objective of achieving payment for creditors in insolvency interact with the objectives of pension legislation, which seeks to ensure that individuals are adequately provided for in retirement? The courts in New Zealand and in the UK have ea ...

Resource Article - abi_admin - 07/03/2015 - 09:32 - 0 comments - 0 attachments

Australia: Nexus Energy Limited - Update on Debt-For-Equity Restructures of Listed Companies

In our article “Mirabela Nickel Restructuring - An Australian First” in the Q3 2014 issue of Global Insight, we considered the cutting-edge case of Mirabela Nickel Ltd [2014] NSWSC 836 (Mirabela) which was the first example of the court approving a debt- ...

Resource Article - abi_admin - 07/03/2015 - 09:23 - 0 comments - 0 attachments

KordaMentha Concludes Receivership Of Somers-Edgar's Orange

The receivers for Doug Somers-Edgar's Orange Finance have concluded their work with a shortfall of about $10 million in principal and interest owed to debenture holders of the failed company, Scoop.co.nz reported. Orange froze repayments to some 2,500 investors owed $25.6 million in late 2008 before ...

Daily Headline - global.abi.org - 06/29/2015 - 22:01 - 0 comments

Companies Avoid Paying $200 Billion in Tax

Businesses avoid paying $200 billion annually in taxes by channeling their overseas’ investments through offshore financial hubs, a United Nations agency said Wednesday, The Wall Street Journal reported. The estimate by the United Nations Conference ...

Daily Headline - global.abi.org - 06/24/2015 - 23:02 - 0 comments

Canberra Eye Hospital In Voluntary Administration Amid Directors Dispute

The Canberra Eye Hospital is in voluntary administration and its owners, who include pioneering eye surgeons, appear to be in a dispute over the sale of the business with shareholders, The Canberra Times reported. One of the founders, Dr Leo Shanahan ...

Daily Headline - global.abi.org - 06/09/2015 - 22:34 - 0 comments

Fashion House That Has Operated Since 1996 Collapses Into Voluntary Administration

A Melbourne-based clothing manufacturer and wholesaler founded in 1996 has entered voluntary administration, SmartCompany.com.au reported. LM Australasia started out producing and wholesale women’s lingerie before growing into a fashion house that specia ...

Daily Headline - global.abi.org - 06/04/2015 - 23:08 - 0 comments

Australia Launches Crackdown On ‘Fleecing’ Bank Culture

Australia’s corporate regulator is to launch a crackdown on the country’s banking culture, which it claims is encouraging misconduct and the “fleecing” of consumers, the Financial Times reported. The intervention by the Australian Securities and Inve ...

Daily Headline - global.abi.org - 06/03/2015 - 22:25 - 0 comments

Syndicate content