Openpay Enters Liquidation: Cathro & Partners Appointed as Liquidators

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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 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

Updated ATO Expectations for Supporting a Small Business Restructuring Plan

The Small Business Restructuring (SBR) framework has quickly become one of the most widely used mechanisms available to financially stressed SMEs. From only a handful of appointments in FY21, uptake has expanded to almost 3,000 SBR appointments in FY25, now representing a substantial proportion of all formal insolvency appointments across Australia. As the use of SBR

Updated ATO Expectations for Supporting a Small Business Restructuring Plan

Turnaround – What Is It?

The definition of a Turnaround is a structured effort to restore a struggling company to financial health. While the definition sounds straightforward, the real work goes beyond the restoration of balance sheets, profit-and-loss or positive cash flows. Every business has its own unique idiosyncrasies, internal politics and stakeholder pressures —

Turnaround – What Is It?

Insights into Unique Court Decisions, with Pavlos Stavropoulos, Senior disputes and insolvency solicitor at Addisons

In this episode of The Cut, the conversation dives deep into the hidden complexities of insolvency law and what every director, administrator, and shareholder needs to understand before making their next big decision. From a chickpea trading company that triggered a pivotal case to the misunderstood power of subordinated creditors,