BizPay in Receivership: Cathro & Partners Take the Helm

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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)

SERVICES

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Insights into the state of Commercial Property Market

In this episode of The Cut, Chris Bergin, Cathro’s Principal in Melbourne, sits down with Julian Heatherich, Director of Commercial Sales at Savills, to discuss the current state of Victoria’s commercial property market. Drawing on more than 25 years of experience in real estate, Julian shares his perspective on the challenges facing

Insights into the state of Commercial Property Market

Why Some Business Owners Recover Their Money in a Liquidation but Most Don’t

When an insolvency practitioner is appointed to a small or medium enterprise (“SME”), a consistent pattern emerges in relation to the owner’s investment in the company. In the majority of cases, the business owner has put a substantial amount of their own money into the business, typically drawn from savings,

Why Some Business Owners Recover Their Money in a Liquidation but Most Don’t

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