BizPay in Receivership: Cathro & Partners Take the Helm

cathro

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

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

BizPay, another buy now, pay later service provider, has encountered financial difficulties, culminating in its entry into receivership. Initially harboring ambitions of a $400 million stock market listing, BizPay offered invoice payment options primarily to small and medium-sized businesses. Jonathon Keenan and Peter Krejci from BRI Ferrier were initially appointed as administrators, seeking to restructure or sell the business. However, on November 29, a secured creditor moved the company into receivership, appointing Simon Cathro and David Mutton of Cathro & Partners as receivers. This turn of events marks a significant shift for BizPay, which had undergone substantial changes, including a workforce reduction and the resignation of its CEO, David Price, in July 2022.

Click here for the telecast – Buy now pay later provider in receivership (news.com.au)

Insights into Deeds of Company Arrangement with Sam Dundas

In the latest episode of The Cut, Simon Cathro delves into the intricacies of Deeds of Company Arrangement (DOCA) with guest Sam Dundas, a partner at King & Wood Mallesons. Together, they discuss the complexities of insolvency law, with a particular focus on DOCAs. Sam shares insights from his extensive

Director Identification Numbers – Are your clients compliant?

In June 2020, the Australian Government introduced the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (cth). Within it was the introduction of a new regime to Part 9.1A of the Corporations Act 2001 (cth), which requires all company directors or anyone who intends on becoming a director

What is provisional liquidation and how can it be used to protect creditors’ interests?

Provisional liquidation is a mechanism available to creditors or members of a company in Australia which is derived from section 472(2) of the Corporations Act 2001 (Cth) (the Act). An application to appoint a provisional liquidator can be filed any time after the filing of a winding up application and