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Showing 1 - 10 of 33 results for "External administration"

Australia sees jump in zombie companies

ELIZA BAVIN  |  THURSDAY, 8 AUG 2024
... liquidations. In addition, ASIC's annual insolvency data found more than 11,000 companies entered external administration for the first time in 2023-24. Overall, the number of external administrations grew by 39% in 2023-24 compared to 2022-23.

More than 11k businesses call in administrators

MATTHEW WAI  |  FRIDAY, 26 JUL 2024
ASIC's annual insolvency data shows more than 11,000 companies entered external administration for the first time last financial year. While the figure is higher than previous peaks in 2011-12 and 2012-13, ASIC clarified that there are more businesses ...

DASS settlement pending court approval, victims urged to claim

KARREN VERGARA  |  WEDNESDAY, 28 FEB 2024
... CSLR is designed to pay out compensation awarded by AFCA where the financial firm in question has entered external administration. It is unlikely Dixon Advisory will remain a member of AFCA after 8 April 2024. It is therefore probably now or never for ...

MSC Trustees acquires Certane Corporate Trust

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
... superannuation administration services. Everything came undone for Sargon in early 2020 when it was forced into external administration by one if its creditors, Taiping Trustees. Five months later, Pacific Infrastructure Partners (PIP) announced it was ...

ASIC bans mortgage broker for eight years

KARREN VERGARA  |  MONDAY, 27 FEB 2023
... who was the director of Think Money and Think Money Wealth Through Property, both of which are now in external administration, recommended clients invest in property via their superannuation without the proper licence. The corporate regulator found that ...

What you read in 2020

JAMIE WILLIAMSON  |  FRIDAY, 18 DEC 2020
... critical questions that are now before them." 3. Sargon runs out of steam (January 30) Sargon was forced into external administration by one of its Chinese creditors, state-owned insurer Taiping Trustees, with McGrathNicol appointed as administrator. ...

OneVue to take Taiping to court

KANIKA SOOD  |  THURSDAY, 6 AUG 2020
... owed about $31 million from its 2018 sale of Diversa Trustees to Sargon Capital, which was forced into external administration in late January and then liquidation. OneVue this morning also updated on sale of Sargon operating businesses to now, Certes ...

Ombudsman demands changes for small business insolvencies

ANNABELLE DICKSON  |  TUESDAY, 21 JUL 2020
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell is calling for a number of measures to be put in place to protect small businesses from a 'tsunami' of insolvencies. In the latest Insolvency Practices Inquiry report ...

ASIC suspends OTC derivatives issuer

ANNABELLE DICKSON  |  TUESDAY, 21 JUL 2020
... operating as USGFX is suspended until September 23 under 915B of the Corporations Act 200 because it is under external administration. A spokesperson for the company said the administration was due to the actions of the Australian Securities and Investments ...

Clime courts Madison Financial Group

KANIKA SOOD  |  MONDAY, 11 MAY 2020
... hands in February as the latter looked to recoup money owed to it by Sargon Capital when it went into external administration. It is understood that Clime has completed due diligence on Madison. "Clime Investment Management (ASX: CIW) confirms it is ...
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