September
The two months that almost unravelled Star’s casino empire
Steve McCann knew his new job at the struggling gaming giant would be tough. Nothing prepared him for the first two months.
- Zoe Samios and Anthony Macdonald
- Exclusive
- Pubs
John Palasty jumps from Virtical’s sinking ship
The developer is trying to distance himself from Virtical’s collapsing empire, stepping down and selling his shares to a director of multiple failed companies.
- Max Mason, David Marin-Guzman and Larry Schlesinger
- Exclusive
- P2P lending
Adgemis makes bold play to reclaim Public Hospitality’s lost pubs
Jon Adgemis is keen to take back control of the five Sydney pubs Public Hospitality Group lost control of last week.
- Max Mason
Bankers begin the task of unravelling the Rex empire with asset sales
Almost two months after Regional Express called in administrators, the regional airline’s assets is being broken up and sold off.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
Death of Tupperware exposes the ‘iconic brand’ fallacy
It’s been an icon of kitchens all over the world, and even a meme stock. But the collapse of Tupperware is now a cautionary tale.
- James Thomson
Jon Adgemis’ Public Hospitality loses control over five pubs
US private credit investor Muzinich & Co has pulled out of a major refinancing deal and called in receivers for venues including Oxford House and The Norfolk.
- Max Mason
- Opinion
- Leading Indicators
The ‘insolvency armageddon’ is all hype
Concern about the record number of company failures is not only overblown, but the surge in businesses going bust is probably a good thing.
- Michael Read
Seven times unlucky beer creditor backs ATO workers’ push for change
When small companies go bust, unsecured creditors end up with very little. A beer can company and the ATO union are unlikely allies in a push to overhaul insolvencies.
- Simon Evans
- Exclusive
- P2P lending
New York lender in fight over slice of Adgemis’ pubs group
A major lender to Public Hospitality Group, the hotel empire of former KPMG deal maker Jon Adgemis, has signalled it will call in receivers to five Sydney pubs.
- Max Mason
- Investigation
- Gold
The Beverly Hills wannabes and the betrayal of Ballarat
The collapse of a small-town gold mine has revealed how millions of dollars flowed to a network of Chinese businessmen. Now liquidators want the money back.
- Peter Ker
- Exclusive
- Regional Express Holdings
Rex accused of stealing planes from Arizona aircraft graveyard
The lawsuit, filed by American leasing company Jet Midwest, adds a twist to the regional carrier’s tortured demise. Rex entered administration in July.
- Max Mason and Ayesha de Kretser
- Exclusive
- Casinos
Star’s lenders offer $150m lifeline as casino fights for survival
The gaming group, which operates in Sydney, Brisbane and the Gold Coast, has been in turmoil since its shares were suspended from trade earlier this month.
- Zoe Samios and Anthony Macdonald
August
- Exclusive
- Building Bad
How construction failures push up costs for builders – and consumers
Union officials with unchecked power on construction sites force builders to cover costs of insolvent subcontractors, which in turn pushes up costs for home buyers.
- Michael Bleby
McGrathNicol steps up insolvent trading probe at Scott’s Logistics
A new report shows a major creditor has agreed to stump up funding to allow liquidators to “pursue further investigations”.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Construction insolvencies come racing out of the blocks in FY25
It’s not clear when the pressures pushing builders over in numbers disproportionate to the size of the sector will ease.
- Michael Bleby
Ex-Young Rich Lister’s collapsed tech firm questioned over ‘unusual transactions’
Administrators of collapsed former tech player LiveTiles have questioned “unusual” transactions, and an investment in a start-up that had only been incorporated for a day.
- Max Mason
- Exclusive
- Aviation
AFP on the scene at Rex as boardroom recriminations deepen
The inquiries come weeks after the regional carrier collapsed, and as administrators at EY work to find a buyer for its fleet and network of services.
- Ayesha de Kretser
Labor backs away from Rex bailout, guarantees regional flights
Transport Minister Catherine King says Regional Express customers will not lose money, offering a guarantee that will help the airline keep ticket sales revenue coming in the door.
- Tom McIlroy and Ayesha de Kretser
- Opinion
- Mosaic Brands
‘Safe harbour’ talk sends Mosaic Brands into rougher seas
The obvious question to ask here is: should the company have disclosed this fact? The less obvious answer is no, not under ASX continuous disclosure requirements.
- Jemima Whyte
Rex’s regional rivals eye an opportunity to expand into key routes
But others in the industry are urging the federal government to step in and provide funding to ensure towns aren’t left without services and staff are paid.
- Ayesha de Kretser