Yesterday
Adgemis fights bankruptcy while holed up in a billionaire’s Bondi pad
The former KPMG dealmaker turned pub owner has lost a key court battle and is trying to stave off eviction from his family’s home in Sydney’s eastern suburbs.
Lex Greensill hit with more legal troubles
Greensill Capital’s administrator has filed a lawsuit against the Australian financier whose failed firm sparked a political scandal.
April
Investa eyes June to restart stalled Roberts Co housing project
Following the collapse of building contractor Roberts in Victoria, some clients want the Rich List former owner to help restart their projects.
AFL’s Port Adelaide and Gupta’s GFG settle guernsey stoush
The AFL club and a company associated with Sanjeev Gupta have hashed out a settlement over missing sponsorship payments.
Ex-Socceroo star’s company pushed into liquidation
Steve Horvat has failed to convince creditors to accept a rescue deal for his company, despite rumours a big A-League payday is imminent.
Fix Australia’s restructuring laws to let viable companies live
Three key targeted law reform tweaks might help unwell, injured or overleveraged companies get back in the race for the benefit of all their stakeholders.
Home games: a Socceroo, a subdivision and the unpaid super
A struggling plan to bankroll an A-League club with an ambitious residential development is emblematic of the financial challenges facing Australian soccer.
Brownes Dairy to be sold after Chinese backers call in $200m loan
One of the country’s oldest dairy companies, the largest milk producer in Western Australia, is on the market through McGrathNicol.
Has Bally’s met its match in an impossible Star turnaround task?
The American giant has turned around plenty of casinos in the past. Now it is turning its attention to tackling its most daunting challenge yet.
Taurus Funds lobs rescue plan for collapsed lead hopeful Abra Mining
The specialist resources lender, which is backed by Regal Partners, says it will also upgrade unsealed outback roads that contributed to the company’s failure.
Greensill Bank alleges IAG executives knew of billion-dollar policies
The claim, filed with the Federal Court, has been brought against the insurance giant by German investors owed money by Lex Greensill’s failed financial group.
Bankruptcy catches up with accountant linked to tax fraudsters
Filomina Kyriacou – linked to some notorious tax fraudsters – has avoided tax debts and unpaid loans worth nearly $4 million by declaring herself bankrupt.
StrongRoom AI attracts 10 prospective buyers despite dire finances
The near insolvent pharmaceutical start-up has made 23 of its 45 staff redundant after requests from interested parties to reduce its costs, administrators say.
Venture capital firm EVP was right to call the cops on StrongRoom
EVP committed venture capital heresy by reporting StrongRoom AI to the police. It angered fellow investors but has shown moral courage rather than selfishness.
Star Entertainment to sign $300m deal with US casino giant Bally’s
The terms are expected to be finalised following a weekend of negotiations.
Desperate Star Entertainment asks Bally’s to fatten up a bail-out
Term sheets are flying as Star and its bankers try to secure a final lifeline for the casino operator.
EVP claims StrongRoom founder admitted to fraud, faked accounts
Documents filed by the venture capital firm also allege one of the software start-up’s directors used company money to pay for a holiday to Morocco.
Star turns to US casino giant Bally’s as $750 million lifeline fails
Star was trying to reach a deal with its potential funder until late on Tuesday, but had failed to agree to terms including how to meet its near-term costs.
The stand-off that blew up Star’s super-sized debt deal
Nearly a month of exclusive negotiations to save the casino giant have failed – and now it is over to Plan B. The clock is ticking louder than ever.
StrongRoom investors at war as founders hit with freezing orders
A European venture capital firm has accused EVP of destroying the prospects of the pharmaceutical software start-up after reporting the company to police.