Australia

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Quickflix Suspends ASX Trading As Troubled SVOD Player Looks To Avoid Insolvency

a $0.001 giving the company a market capitalisation of just $2.2m. The announcement also said ...

Daily Headline - global.abi.org - 08/31/2015 - 20:13 - 0 comments

Call To Extend Directors’ Safe Harbour To Insolvency

With Australia on the cusp of a “looming liquidity crisis’’, corporate turnaround specialists have urged so-called safe harbour laws to protect directors and their advisers in informal corporate restructurings, The Australian reported. While the prop ...

Daily Headline - global.abi.org - 08/30/2015 - 16:52 - 0 comments

Power Down: WA Electrical Contractor Collapses Into Voluntary Administration

A Western Australian electrical contractor that has been operating for more than 30 years and supplied machinery for mining in the Pilbara region has collapsed into voluntary administration, SmartCompany.com.au reported. Cape Range Electrical Contractors ...

Daily Headline - global.abi.org - 08/25/2015 - 21:32 - 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

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

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

Australia Raises One Of World’s Highest Minimum Wages

Australia is raising its minimum wage by an above-inflation 2.5 per cent, providing a boost to low-paid workers amid sluggish economic growth, the Financial Times reported. From next month about 1.86m workers must be paid a weekly wage of at least A$ ...

Daily Headline - global.abi.org - 06/03/2015 - 00:03 - 0 comments

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