Australia

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Pie Face Plunges Into Administration

Australian food franchise Pie Face has collapsed into voluntary administration. In a statement released to SmartCompany, the Pie Face Group confirmed Jirsch Sutherland has been appointed as administrators. However, Pie Face said it is “business as usual” ...

Daily Headline - global.abi.org - 11/23/2014 - 22:59 - 0 comments

United Dairy Power In Receivership

The parent company of Australia’s largest privately owned milk processing company, United Dairy Power (UDP) has been placed in receivership after its banker moved to remove its board and appoint a new CEO to manage its debts, The Australian reported. ...

Daily Headline - global.abi.org - 11/18/2014 - 20:59 - 0 comments

Australia Needs Stimulus to Avoid Recession, Morgan Stanley Says

Australia could face its first recession in almost 25 years unless authorities further stimulate the economy, Morgan Stanley said. The nation’s economy will expand just 1.9 percent in 2015, with 1.5 percentage points of that coming from higher exports, a ...

Daily Headline - global.abi.org - 11/04/2014 - 23:17 - 0 comments

Pluton Questions Validity Of Receivership Appointment

Iron-ore junior Pluton Resources is battling receivership after junior Chinese creditor Rizhao Port Group appointed receivers and managers, prompting fellow-listed Watpac to suspend an existing mining services contract at the Cockatoo Island project, M ...

Daily Headline - global.abi.org - 11/03/2014 - 21:37 - 0 comments

Client Losses Knock Over Sumo Visual

Multiple major client losses have forced Sumo Visual Group, one of Australia’s biggest retail signage printers, into administration, only six months after making a big kit investment, ProPrint reported. The $30m-a-year 60-staff company with operation ...

Daily Headline - global.abi.org - 10/29/2014 - 21:32 - 0 comments

When can a liquidator get his or her costs and expenses?

The High Court has recently reaffirmed the principle that a liquidator is entitled to be paid his or her costs and expenses properly incurred in realising assets of a company in priority to a secured creditor. This is so even if the fund realised was der ...

Resource Article - abi_admin - 10/16/2014 - 08:36 - 0 comments - 1 attachment

RBA Says Talks on Home Lending Curbs May Go Beyond Investors

Australian central bank officials said possible steps to cool the nation’s housing market wouldn’t necessarily be limited to investor lending curbs. The Reserve Bank of Australia is discussing with the Australian Prudential Regulation Authority “steps th ...

Daily Headline - global.abi.org - 10/01/2014 - 19:56 - 0 comments

Iron Ore Price Plunge Claims First Australian Casualty

Plunging iron ore prices have dealt their first blow in Australia, sending fledgling miner Western Desert Resources Ltd into administration after it failed to reach a deal with bankers over its debt, Reuters reported. Western Desert was caught out by a m ...

Daily Headline - global.abi.org - 09/08/2014 - 22:06 - 0 comments

Australia Targets Multinational Tax Avoidance

more than 1 billion Australian dollars (US$0.9 billion) a year in revenue. The crackdown follows ...

Daily Headline - global.abi.org - 09/04/2014 - 19:50 - 0 comments

Qantas Posts Record Loss As Restructuring Costs Bite

Qantas Airways Ltd reported its biggest ever financial loss on Thursday after writing a hefty A$2.6 billion (1.45 billion pounds) off the value of its fleet due to a company restructure, Reuters reported. Australia's national flag carrier attempted ...

Daily Headline - global.abi.org - 08/27/2014 - 20:42 - 0 comments

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