Australia

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Penrice Scrambles For Debt Solution

The Adelaide company that 18 months ago became the first to face a board spill under the controversial 'two strikes' rule on executive pay has fallen into voluntary administration with debts of more than $100 million, Business Spectator rep ...

Daily Headline - global.abi.org - 04/13/2014 - 22:58 - 0 comments

Insolvency Rising As Manufacturers Collapse

Personal insolvency in Australia has increased by 6.1 per cent compared to the same quarter last year, despite the number of personal insolvency agreements being at their lowest since 2007, The Australian reported. The closures in the Victorian car m ...

Daily Headline - global.abi.org - 04/09/2014 - 21:20 - 0 comments

Aussies Join Action To Recover Lost Bitcoin

Australians are among angry bitcoin users taking legal action to recover millions of dollars in cash and virtual currency lost when Japan’s Mt Gox exchange crashed in February. The Australian can reveal that at least two Australians are part of a cla ...

Daily Headline - global.abi.org - 04/07/2014 - 21:41 - 0 comments

Bevilles Enters Voluntary Administration

A tough retail environment has claimed another victim, with the collapse of an 80-year-old family-owned jewellery store chain, The Sydney Morning Herald reported. Bevilles, which employs about 477 people across 27 stores, has entered voluntary admini ...

Daily Headline - global.abi.org - 04/01/2014 - 23:44 - 0 comments

Liquidator Cites Disproportionately High Company Insolvency Rate In ACT

A disproportionate number of ACT companies, including those in construction, are going broke because they are under-capitalised, according to liquidator Eddie Senatore, who has more than 25 years' experience in insolvency, The Canberra Times rep ...

Daily Headline - global.abi.org - 03/23/2014 - 10:16 - 0 comments

Liquidator Cites Disproportionately High Company Insolvency Rate In ACT

A disproportionate number of ACT companies, including those in construction, are going broke because they are under-capitalised, according to liquidator Eddie Senatore, who has more than 25 years' experience in insolvency, The Canberra Times rep ...

Daily Headline - global.abi.org - 03/23/2014 - 10:14 - 0 comments

CGT liability for receivers and liquidators

Insight issued regarding a ruling handed down on CGT liability for receivers and liquidators. Attachment Size hdy_insight_cgt_liability_25_feb14.pdf 411.45 KB (Australia, Europe, Oceania, United Kingdom ...

Resource Article - twallace@abiwor... - 03/06/2014 - 15:25 - 0 comments - 1 attachment

NAB Falls as Bank Signals Higher U.K. Provisions

National Australia Bank Ltd. (NAB) fell in Sydney trading after flagging a possible increase in provisions at its British operations, overshadowing a 7 percent increase in first-quarter profit, Bloomberg News reported. Shares of Australia’s biggest bank ...

Daily Headline - global.abi.org - 02/20/2014 - 23:39 - 0 comments

US court refused Chapter 15 recognition of an Australian insolvency

Mayer Brown note and the actual opinion. Attachment Size drawbridge_-_mayer_brown_note.pdf 154.55 KB drawbridge_opinion.pdf 386.62 KB cap15-drawbridgespecialopportunities.pdf 59.26 KB ...

Resource Article - twallace@abiwor... - 03/06/2014 - 12:38 - 0 comments - 3 attachments

Australian Unemployment Jumps to 10-Year High

Australia’s unemployment rate climbed to the highest in more than 10 years in January, spurring traders to pare bets on an interest-rate increase and sending the Aussie to its biggest drop in almost three weeks. The jobless rate rose to 6 percent from 5. ...

Daily Headline - global.abi.org - 02/12/2014 - 23:30 - 0 comments

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