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BizPay Hits Financial Turbulence, Enters Receivership with Cathro & Partners at the Fore.

Major Buy Now, Pay Later Firm Openpay Faces Liquidation After Financial Collapse.

As we head into the festive season, we’ve taken a moment to reflect on the year that was and capture our thoughts on what 2024 is likely to bring for Australian businesses and the insolvency sector.

A recent survey from the Turnaround Management Association and KordaMentha warned that over 90% of industry professionals expect the Australian economy to slip into recession within the next two years. In its slipstream, insolvencies are expected to rise further.

In his new role, Kazar will be responsible for serving clients in the ACT and nationally. He will work with Cathro & Partners leaders (including Navin Lal in Canberra) to build out the firm’s bankruptcy and corporate restructuring capability…

Metigy collapsed in August 2022, with the court previously hearing that senior staff at the company had got in contact with investors because they had severe concerns about its solvency…..

A complex structure of companies linked to Sydney-based financial adviser Kris Agrawal and his wife Sashi were placed into voluntary administration in August.

One GC MQ Park, the holding vehicle for Mr Sunito’s Macquarie Park site, is facing a lawsuit for allegedly failing to make repayments on a $4.5 million loan that began less than a year ago.

Growing insolvency and turnaround consultancy Cathro & Partners has marked its two-year anniversary with the recruitment of Amanda Rose in a newly-created general manager role.