From www.abc.net.au: Healthscope, Australia’s second-largest private hospital operator, collapsed after struggling with massive debt and financial mismanagement following its acquisition by Brookfield in 2019.
The company defaulted on rental payments and faced criticism for introducing controversial fees for patients, leading to conflicts with health insurers.… read more
From www.accountantsdaily.com.au: [Podcast] Chris Sequeira, a partner at Wexted Advisors, discusses trends and insights in the Australian insolvency landscape during a recent podcast episode.
He highlights challenges faced by businesses and emphasises the role of the ATO, small business restructuring, and indicators of impending insolvency.… read more
From cathropartners.com.au: As FY25 concludes, inflation and labour shortages significantly impact the economy, particularly in the Construction and Hospitality sectors, which account for 65.7% of formal insolvencies.… read more
From creditorwatch.com.au: The April Business Risk Index from CreditorWatch indicates that while insolvencies remain high, they have plateaued, with 9.6% of hospitality businesses closing in the past year.… read more
From www.salea.com.au: Voluntary administration allows insolvent companies to pause trading and reassess their financial position while an external administrator takes control.
Employee entitlements may be affected during this process, with ongoing employees receiving payment for services provided afterward, but unpaid wages from before the administration might not be covered immediately.… read more
From www.accountantsdaily.com.au: The Australian Financial Security Authority has issued a warning against the misuse of the personal insolvency system, emphasising that such abuse undermines the system’s integrity and the confidence of affected communities.… read more
From allens.com.au: The High Court denied special leave to appeal a decision on indefinite time extensions in winding up proceedings, reaffirming the Full Court of the Federal Court’s ruling.… read more
From www.bartier.com.au: A recent NSW Court of Appeal decision clarified that a letter of comfort issued by Invesus Group Ltd did not create a binding obligation to cover the debts of its subsidiary, Forex Capital Trading Pty Ltd, following its liquidation.… read more
From mdl.com.au: ‘Section 459H provides a safeguard for companies facing potentially unfair or invalid statutory demands, while the affidavit in support serves as the essential tool for raising and substantiating any challenges.’… read more
From www.salea.com.au: Company liquidation and voluntary administration are distinct processes for insolvent businesses in Australia, each with different goals and outcomes.
Voluntary administration focuses on rescuing or restructuring a business, allowing for potential recovery under the guidance of an appointed administrator, whereas liquidation involves winding up the company and ceasing operations, with a liquidator assigned to sell assets and pay creditors.… read more
From sladen.com.au: The case of Ford Kinter & Associates Pty Ltd v Reliance Franchise Partners Pty Ltd highlights the importance of creditor funding in insolvency proceedings, as the court ruled that creditors who assume financial risks in litigation can be prioritised for asset recovery.… read more
From www.claytonutz.com: The Australian restructuring landscape has evolved significantly over the past decade, shifting focus from debt enforcement to strategies such as debt-for-equity swaps, influenced by the rise of private capital investors.… read more
From cathropartners.com.au: Building a successful professional practice requires commitment, strategic thinking, and the ability to delegate tasks effectively, as discussed by Nick Hitchens in a conversation with Andrew Blundell.… read more
From worrells.net.au: When a company enters liquidation, liquidators must quickly identify and secure all company assets, including physical and intangible items, to maximize their value for creditors.… read more
From worrells.net.au: Effective April 1, 2025, the Australian Taxation Office will require certain non-compliant small businesses to report GST monthly instead of quarterly, due to issues such as late or incorrect Business Activity Statements.… read more