The mobile division of consumer data startup Yatango has entered voluntary administration. According to records from the Australian Securities and Investments Commission, Yatango Mobile (Australia) entered voluntary administration on September 29. Hugh Armenis and Katherine Barnet of Bentleys Corporate Recovery have been appointed to manage the administration. The appointment was made under section 436C of the Corporations Act, which allows an individual to enforce a security interest in an entire company or a substantial part of a company.

The Australian Securities and Investments Commission (ASIC) has suspended the credit licence of PAID International Ltd until April next year because it is insolvent and stopped providing loans, ABC News reported. An external administrator was appointed in January this year and the company kept trading. Last year, the administrator agreed to repay nearly $1 million to 6,650 customers who paid excessive fees on more than 20,000 loans. The company, which used to be called First Stop Money, has so far refunded nearly $240,000 of that money to consumers under an agreement with ASIC.

Loss-making Fortitude Valley-based energy and mining contractor WDS has gone into receivership, The Australian reported. The appointment by WDS’s major secured creditor, GE Commercial, of Quentin Olde and John Park from FTI Consulting as receivers and managers raises job fears for a workforce of 730. The appointment follows WDS requesting a trading halt on August 25 on the basis that it had a contractual issue with one of its customers, the management company for the Vale-led Eagle Downs coal project in Queensland’s Bowen Basin.

Troubled SVOD player Quickflix has again suspended trading in its shares on the stock market as it attempts a restructure and head off potential financial insolvency, mUmBRELLA reported.

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 proposed reforms have been long pondered in Canberra’s corridors, Turnaround Management Association director Cameron Belyea said there was a heightened urgency ahead of the likely drying up of foreign capital, especially from the US.

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 is a Newman-based electrical contractor business specialising in the supply, installation and maintenance for individual and commercial clients. The family-owned business has been operating since 1973 and mainly services the Newman and Pilbara region.

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 million in projects across South Australia before it went into liquidation in June owing more than $20 million. Creditors will meet with liquidators Clifton Hall on Tuesday for the first time to hear about the business' position.

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. The Securities Exchanges Guarantee Corporation, the fund's administrator, is considering setting up a panel of law firms to assist with, and expedite potential claims.

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, said the company had $2.3 million in the bank 15 months before it went into voluntary administration in about January.

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 specialised in seamless garments, including knitwear, tops, leggings and shapewear. The business is based in the Melbourne suburb of Collingwood and, in 2010, employed 20 staff in Australia. At the time it also had an office in China, with a staff of 10.