Government buys $50m worth of debt to keep Rex flying
From michaelwest.com.au: The federal government purchased $50 million of Rex Airlines’ debt to support the embattled regional airline and ensure the continuation of essential … read more
Insolvency
Pre-appointment Sale Contracts & Trustee’s CGT obligations
From cathropartners.com.au: A discussion of private tax ruling regarding the tax obligations under section 254 of the Income Tax Assessment Act (ITAA 1936) following … read more
What happens when your builder goes bust
From www.moneymag.com.au: The construction industry in Australia has seen a surge in insolvencies, with 2,977 cases reported in the 2024 financial year, nearly double … read more
Incy Interiors still trading after ‘final’ sale
From www.smartcompany.com.au: Incy Interiors continues to operate despite previously announcing a closure after a ‘final’ sale in August 2024, as the owner, Tom Fitzpatrick, … read more
Insolvency litigation and public examinations
From cathropartners.com.au: Discussion of insolvency litigation and public examinations, highlighting the complexities of insolvency proceedings.
Covering key topics such as voidable transactions, the funding … read more
2024: A Year in Review
From cathropartners.com.au: In 2024, insolvency appointments in Australia reached record highs, with over 40,000 cases, primarily driven by the construction sector and increasing pressures … read more
Timeline for Small Business Restructuring
From www.salea.com.au: Small Business Restructuring (SBR) offers a streamlined process for financially distressed businesses to restructure their debt while maintaining operations.
The typical timeline … read more
Lien over deed fund outlasts order for liquidation
From insolvencynewsonline.com.au: Project Sea Dragon Pty Ltd’s Deed of Company Arrangement (DoCA) termination didn’t affect the lien and right of indemnity of the administrators, … read more
Secured creditor appointments and processes
The discussion from cathropartners.com.au covers the rise of receiverships, the role of secured creditors, and the importance of security reviews and accountant reports in these … read more
Hitting CTRL+Z on liquidation
From worrells.net.au: Companies in liquidation may have opportunities to reverse their situation, allowing them to continue trading rather than facing permanent closure.
Two key … read more
One strike and you’re out?
From worrells.net.au: ASIC can disqualify a company director from managing corporations for up to five years if they were an officer of multiple companies … read more
Court interpretation of section 563B
Reported at corrs.com.au: A landmark interpretation of section 563B of the Corporations Act 2001 regarding creditors’ entitlement to interest on admitted claims by a … read more