technology BCR Advisory
Technology

MONEY & MARKETS Allphones has gone into administration

This article was sourced from Business Insider Australia. Article by Chris Pash. Mobile phone retail chain Allphones went into voluntary administration today. Allphones, which opened its first shopfront in South Australia in 1989, is the largest independent telecommunications retailer in Australia with 80 company-owned, licensed and franchised stores and 440 staff. As a first step, 18 company-owned […]

BCR Advisory money issues
Bankruptcy

Mass. Bankruptcy Court: Mortgage with Incorrect Legal Description Is Avoidable by Chapter 7 Trustee

This article was sourced from JD Supra. Article by Christopher Somma and Goodwin. On January 4, 2017, the United States Bankruptcy Court for the District of Massachusetts found that a Chapter 7 Trustee could avoid the debtor’s mortgage and preserve it for the benefit of the bankruptcy estate.  The opinion, Eastern Bank v. Benton (In re Thomas H […]

BCR Advisory Sydney
Insolvency

Herringbone and Rhodes & Beckett have gone into administration

This article was sourced from Business Insider Australia. Article by Chris Pash. Fashion clothing brands Herringbone and Rhodes & Beckett have gone into voluntary administration, joining a growing list of retailers seeing customer support fade. They have 29 stores with 140 employees. Insolvency group Cor Cordis has been appointed administrator. They follow fashion labels Marcs and […]

BCR Advisory Bankruptcy
Bankruptcy

So What Does a Bankruptcy Carve-Out Clause Really Mean? Delaware Bankruptcy Court Concludes It is Not a Cap on Fees After All

This article was sourced from JD Supra Business Advisor. Article by Robert Kaelin and Murtha Cullina. In chapter 11 bankruptcy cases, it is not uncommon for secured parties/lenders to provide a “carve-out” for various professional fees.  Frequently there may be a “carve-out” for “all chapter 11 professionals” or the “carve-out” may be broken out in different […]

BCR Advisory Entrepreneur
World business

28-year-old cofounder of liquor delivery platform shares his advice for aspiring entrepreneurs

This article was sourced from Business Insider. Article by Frank Chapparo. Maxim Razmakhin has always been an entrepreneurial spirit. When he was in college, he sold milkshakes out of his dorm room. “It was sort of like a substitute for coffee,” Razmakhin said. “It stimulated brain power and helped people cram for those big exams.” He ended up […]

BCR Advisory money issues
World business

A financial psychologist explains why humans are ‘naturally wired’ to be bad with money

This article was sourced from Business Insider Australia.  Article by Tanza Loudenback.  You may have figured out by now that your money problems are the result of your upbringing. In fact, the attitudes and beliefs your parents held about money while you were young has a profound effect on your relationship with money as an adult, […]

BCR Advisory World business
World business

SoftBank to Buy Fortress Investment Group for $3.3 Billion

This article was sourced from Bloomberg Technology. Article by Devin Banerjee and Pavel Alpeyev. SoftBank Group Corp. is buying alternative-asset manager Fortress Investment Group LLC for $3.3 billion in cash to operate alongside the Japanese company’s soon-to-be-established technology investment fund. Japan’s SoftBank will pay $8.08 a share for New York-based Fortress, a 39 percent premium […]

BCR Advisory team
BCR Advisory Articles

Multimillion-dollar printing business collapses into administration.

This article was sourced from Smart Company.  Article by Broede Carmody. A multimillion-dollar printing business that has been operating for more than 20 years has collapsed into voluntary administration. Sydney Allen Printers Pty Limited appointed external managers late last week but appears to still be trading. John Morgan and Geoffrey Davis from BCR Advisory have been appointed […]

technology BCR Advisory
Technology

CommBank suffers major Eftpos, Netbank outage.

This article was sourced from Sydney Morning Herald. Article by Ben Grubb. CommBank suffered an almost three-hour long major outage on Friday afternoon that affected its Eftpos machines and customers’ access to some features in Netbank, its online banking system. The outage, which began about 12pm AEST, was affecting customers across Australia, leaving some people unable to pay for […]

BCR Advisory
Technology

Impulsive? A procrastinator? Blame your genes.

This article was sourced from The Sydney Morning Herald.  Article by Melissa Healy.  New research suggests the tax office should expand the list of acceptable explanations for procrastinators’ yearly extension requests and late tax filings. Two possibilities: “I was born this way” and “failure to evolve”. Procrastination, suggests a new study, is an evolved trait that […]

BCR Advisory Bankruptcy
Bankruptcy

Toshiba may file for bankruptcy: chairman resigns following $6.3 billion loss

This article was sourced from android authority. Article by Kris Carlon. Toshiba may be facing bankruptcy amidst a failed attempt to salvage the company’s fortunes. Toshiba confirmed today that it will take a $6.3 billion hit thanks to its problematic US-based nuclear construction business. In response, the company’s chairman will step down tomorrow. Toshiba had attempted […]

Insolvency BCR Advisory
Insolvency

Another Australian retail failure — Marcs and David Lawrence are going into administration

This article was sourced from The Australian Business Review. Article by Bridget Carter and Scott Murdoch. Fashion labels Marcs and David Lawrence have gone in to voluntary administration, citing deteriorating sales, general market conditions and poor cash flow. They are the latest in a string of players in the retail sector, under pressure from online trading […]

Bankruptcy BCR Advisory
Insolvency

Australia: Liquidators and the TGA – legislative and practical issues

This article was sourced from Mondaq. Article by William Clement and Ian Currie. Liquidators can face significant issues when appointed over companies that operate under the licensing regime of the Therapeutic Goods Administration (TGA). The TGA is a Commonwealth Government agency administered by the Department of Health. It’s responsible for regulating the supply, import, export, manufacturing and […]