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Insolvency

September

Remi Capital liquidators investigate $2.8m property transfer

The liquidator of suspected Ponzi scheme Remi Capital is investigating the fundโ€™s transfer of hotel properties to a trustee founded by a former hedge fund director.

  • David Marin-Guzman

Bankruptcy laws to be reviewed amid jump in business failures

The inquiry comes after business failures hit a 2ยฝ-year high in July on the back of a surge in construction sector insolvencies.

  • Michael Read

Australian crypto exchange appoints administrators

The collapse of Mine Digital comes as it is being sued for allegedly not doing enough to weed out scammers from using its platform.

  • Updated
  • Max Mason and Jonathan Shapiro

Investigator raises alarm over Salt Lake Potash collapse

An investigation into a collapsed Australian potash trailblazer has alleged that investors were misled prior to a fundraising and the company traded insolvent

  • Peter Ker

Tax expert delivers warning to crypto investors

Authorities are catching up with crypto investors and will take more action to spook them into improved reporting of their activity, according to Chainalysis.

  • Max Mason
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Sneakerboy may have traded while insolvent for year and a half

The luxury footwear and streetwear retailer had been struggling for some time and the business strategy was managed poorly before its collapse, its administrator says.

  • Max Mason

โ€˜Zombieโ€™ firms collapse as pandemic aid removed

Failures are poised to increase further, experts say, as soaring costs and a Tax Office crackdown on unpaid debts heap further pressure on struggling firms.

  • Updated
  • Michael Read

Home builders are already cutting jobs. They face more losses

Supply constraints have already forced one of the countryโ€™s largest home builders to cut workers. A looming drop in new sales points to more headcount reductions.

  • Michael Bleby

Liquidator of Papas firm cuts deal to save historic football club

The future of Sydney Olympic FC has been secured after liquidators of Forum Group cut a deal to settle claims of millions owed by the historic football club to Bill Papasโ€™ now-collapsed company.

  • Max Mason and Jonathan Shapiro

Inside the rise and spectacular fall of Lex Greensill

A new book about the business exploits of the boy from Bundaberg is flying off the shelves in his home town as court battles continue over Greensill Capitalโ€™s implosion.

  • Jenny Wiggins

Ellume set to enter voluntary administration; FTI appointed

The COVID-19 test maker, which wanted to float in April with a valuation nearing $1 billion, has called in administrators for its Australian arm.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

August

Builder collapse shows Australia an outlier with fixed-price contracts

Home building deals in this country leave constructors exposed โ€“ and that comes down to banksโ€™ lending models.

  • Michael Bleby

Queensland company surged on Homebuilder before collapsing

Logan City-based Oracle jumped from 76 home building contracts to 316, setting the builder up for a world of pain when costs started soaring.

  • Michael Bleby

Failed developer Caydon owes financier over $200m โ€“ and a Mercedes

The private developer, founded by Joe Russo, is likely to go into liquidation next week after receivers appointed by its largest creditor hand over the remains to other creditors.

  • Michael Bleby

Greensill Capital insurer BCC had โ€˜weak underwritingโ€™: Tokio Marine

Former Greensill Capital insurer Bond & Credit Co suffered from โ€œweakโ€ underwriting due diligence and did not robustly review its insurance buyers, an internal review has revealed.

  • Jenny Wiggins and Liam Walsh
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White & Case shops at G+T for restructuring expert

Global corporate law firm White & Case has lured one of Gilbert + Tobinโ€™s top restructuring and insolvency partners, Peter Bowden.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

Cash flow a looming risk for builders as insolvencies rise

As the tax office steps up action on unpaid debts, the importance of timely payment in keeping subcontractors afloat is greater than ever.

  • Michael Bleby

Shine, Piper Alderman team up for Blue Sky legal action

Class action law firms Shine and Piper Alderman will jointly pursue the bankrupt Blue Sky Alternative Investments, rather than file overlapping and competing cases.ย 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood

Crypto contagion โ€˜to wipe outโ€™ nearly half of Australian exchanges

McGrathNicol says there could ultimately be fewer than 10 digital asset exchanges that have strong corporate governance and operate efficiently.

  • Max Mason and Jessica Sier

Mulberry takes control of local franchisee from Sneakerboy retailers

Luxury lifestyle brand Mulberry has appointed receivers to its independent Australian franchisee, which was owned by the same retailers behind collapsed footwear and streetwear business Sneakerboy.

  • Max Mason