Insolvency
Metricon’s shareholders inject $30m, CBA strikes new deal
Advisers to the country’s biggest home builder have been working on a new funding deal following the death of its founder and rumours of financial instability.
- by Sarah Danckert and Tom Rabe
Latest
Opinion
Interest rates
Walking dead: The zombies may finally be killed off
Since the 2008 financial crisis, low interest rates have provided a lifeline for companies that might otherwise not have survived. But the tide is going out for these “zombie” companies.
- by Stephen Bartholomeusz
‘Contagion’: Experts warn ‘zombie’ businesses will drive collapses
The construction industry is most at risk from financially distressed companies that have been lurching around after being propped up by government stimulus.
- by Sarah Danckert
Metricon denies solvency issue as it prepares for government talks
Australia’s largest home builder has denied any solvency problem as rumours swirl following the sudden death of founder Mario Biasin.
- by Jackson Graham, Sumeyya Ilanbey and Sarah Danckert
Exclusive
iProsperity scandal
Prominent Sydney corporate lawyer set to be grilled by Ponzi scheme investigators
Top lawyer John Landerer has described allegations by liquidators of collapsed property group iProsperity that he was a shadow director as “all bullshit”.
- by Nick McKenzie and Sarah Danckert
Exclusive
Industrial relations
Lentil as Anything out of business owing staff almost $400,000, administrators reveal
Pay-as-you-feel restaurant Lentil as Anything may have traded while insolvent for three years – a potential criminal offence.
- by Ben Schneiders
Who owns the cheese? Riches to rags stories uncovered in NSW archives
A new digitisation program of insolvency records from the 19th century offers a glimpse into early colonial life: when one person went broke, the impact rippled through the household, the suburb and local vendors.
- by Julie Power
Sydney builder looks to take over Probuild Melbourne projects
Sydney-based builder Roberts Co, founded by Multiplex developer Andrew Roberts, is looking to take over embattled Probuild Melbourne projects.
- by Carolyn Cummins
Failed Aussie crypto exchange may have been insolvent for years, liquidator says
Liquidators for MyCryptoWallet have claimed the business may been insolvent for three years before its collapse, and have questioned $3.4 million in ‘unfair’ transactions.
- by Dominic Powell
Wellness company boss’s home repossessed as creditors circle
The founder of a Melbourne wellness company that planned to expand into China with the help of former Liberal trade minister Andrew Robb has had his home repossessed after the business collapsed.
- by Cameron Houston
Bag maker Crumpler collapses in COVID downturn
One year after celebrating its 25th anniversary, the popular Melbourne-based bag brand has gone into administration.
- by Dominic Powell