Australia

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Deloitte Under Microscope As Dick Smith Goes Into Liquidation

McGrathNicol could go after Dick Smith auditor Deloitte for potential breach of accounting standards after it was appointed as the liquidator of the collapsed electronic retailer, the Financial Review reported. UTS accounting professor Peter Wells sa ...

Daily Headline - global.abi.org - 07/25/2016 - 22:13 - 0 comments

Australian Election Losers Could Include Triple-A Rating

Australia could lose its rare triple-A credit rating after a tight general election raised questions about the next government’s ability to curb spending and bring down debt, The Wall Street Journal reported. The election remains too close to call, b ...

Daily Headline - global.abi.org - 07/04/2016 - 22:49 - 0 comments

Defending unfair preference claims: set-off and security revisited

In brief: A recent Federal Court decision has highlighted two grounds on which creditors should consider defending unfair preference claims which are brought by liquidators. Partner Chris Prestwich (view CV) and Lawyer Tim Chiang look at a case that deal ...

Resource Article - twallace@abiwor... - 06/28/2016 - 15:28 - 0 comments - 0 attachments

International arbitration report

Welcome to issue 6 of Norton Rose Fulbright’s International arbitration report. In this issue, we provide an overview of the investment provisions of the Trans-Pacific Partnership, including its dispute settlement mechanisms, and discuss the early da ...

Resource Article - twallace@abiwor... - 06/28/2016 - 15:23 - 0 comments - 0 attachments

Queensland Nickel Liquidators Seek Fresh Court Summons To Grill Clive Palmer

who faces being pursued over the alleged siphoning of $224m from Queensland Nickel, ramped up his ...

Daily Headline - global.abi.org - 06/14/2016 - 23:51 - 0 comments

South Australia Offers Funding For New Owner Of Arrium Steel Plant

The South Australian government said on Thursday it would provide A$50 million ($37 million) in funding to help keep Arrium Ltd's loss-making Whyalla steelworks open under a new owner, Reuters reported. State Labor premier Jay Weatherill has also pr ...

Daily Headline - global.abi.org - 06/09/2016 - 22:19 - 0 comments

Insolvency Firms Are Hiring As Retail Collapses Gather Pace

In good news for insolvency firms but not much else, insolvencies are rising and the number of retailers appointing external administrators is also up, The Sydney Morning Herald reported. Electronics chain Dick Smith, home furnishings company Laura A ...

Daily Headline - global.abi.org - 05/30/2016 - 21:45 - 0 comments

Collapsed Australian Steelmaker Arrium Eyes Sale Of Profitable Moly-Cop Unit

Troubled Australian steel group Arrium Ltd, which collapsed last month after creditors rejected a private equity bailout, will hire a global investment bank to advise on the sale of its profitable Moly-Cop mining supplies unit, the firm's administra ...

Daily Headline - global.abi.org - 05/24/2016 - 00:15 - 0 comments

Clive Palmer To Sue Queensland Nickel Administrators FTI Consulting For $1.2 Billion

Businessman and retiring federal MP Clive Palmer will sue the administrators of his beleaguered Queensland Nickel refinery in Townsville for $1.2 billion, ABC News reported. Mr Palmer said he would sue FTI Consulting in the coming weeks for allegedly lyi ...

Daily Headline - global.abi.org - 05/17/2016 - 22:22 - 0 comments

Super Retail Flags $43 Million In Restructuring Costs

Retailer Super Retail Group will book restructuring costs and write-downs of $43 million this year as its revamps the loss-making Ray's Outdoors chain and fixes an online sporting goods business, The Sydney Morning Herald reported. The one-off c ...

Daily Headline - global.abi.org - 05/04/2016 - 20:50 - 0 comments

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