Openpay Enters Liquidation: Cathro & Partners Appointed as Liquidators

cathro

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

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

Openpay, a major player in the buy now, pay later market, has entered liquidation following its collapse earlier this year. The company, which had accrued more than $66.1 million in debts to creditors and owed significant amounts in unpaid wages, struggled to find a buyer or secure recapitalization. Simon Cathro and Declan Lane of Cathro & Partners have been appointed as liquidators and administrators to manage the winding-up process. This development marks a significant turn in the fortunes of Openpay, which had listed on the ASX in 2019 but failed to achieve profitability since its stock market debut.

Click here for the telecast – Buy now pay later company Openpay has gone into liquidation following its collapse earlier this year. | news.com.au — Australia’s leading news site

Explore secured creditor appointments and processes with insights from Lander & Rogers experts.

In this episode of The Cut, Simon Cathro speaks with Keiran Breckenridge and Jonathon Turner from Lander & Rogers about secured creditors and receiverships, a topic not covered in previous episodes⁠ Jonathan Turner is a partner at Landers and Rogers, specialising in corporate restructuring, insolvency, and finance. He joined the

The Importance of Keeping Accurate Books and Records: A Guide for Directors

Running a commercial enterprise, such as a company comes with numerous responsibilities, but one of the most critical—often overlooked—is maintaining accurate and complete business records. In Australia, directors are legally required to ensure their companies keep financial and corporate records that are clear, organized, and up-to-date. Failing to do so

Dividends to Creditors: How this process works in a liquidation

When a company enters liquidation, the liquidation process is overseen by a liquidator. One of the key responsibilities of the liquidator is to manage the distribution of the company’s assets to its creditors. This process is referred to as the “dividend to creditors” and is crucial in ensuring that creditors