Insolvency stories
Despite facing record insolvencies due to rising costs and reduced consumer spending, Australia's small businesses remain hopeful about 2025, embracing tech-driven strategies.
An intricate web of third-party collaborations elevates innovation and efficiency in business but also significantly increases risk factors such as data breaches and financial instability.
Canada's investment watchdog has unveiled a tiered crypto custody regime, tying asset limits to custodians' capital, tech controls and oversight.
Canadian firms are losing cash and facing fines after using chatbots like ChatGPT for tax advice, a survey of accountants has warned.
Irish insolvencies fall 7% to 812 in 2025, but court liquidations and receiverships surge as creditors and tax authorities tighten enforcement.
UK accountants say firms are already losing money to flawed ChatGPT tax advice and warn misuse of AI could trigger failures by 2026.
Quarterly business failures climbed to 777, signalling pressure from debt and tight credit even as confidence improves across the economy.
A New Zealand AI tool, CheckMyBuilder, helps homeowners and businesses spot risks with builders for NZD $49, using public records to flag issues before contracts.
Business failures in New Zealand have steadied at elevated levels, with construction, services and retail still driving insolvency pressure.
Subcontractors in New Zealand could recover more than NZD $2.1 million after a High Court ruling said retention funds must be ringfenced in trust.
About 200 subcontractors could recover unpaid invoices if the High Court rules retention funds were held on trust, not for liquidator fees.
New Zealand firms are feeling the strain as insolvencies jumped 31% in the first quarter, with construction failures up 44%.
The collapse left unsecured creditors facing a NZD $110 million shortfall and sparked a Supreme Court ruling that reshaped directors’ liability.
A surge in insolvency risks is predicted for Australian firms in 2025, with failure rates rising 6% in late 2024 amid renewed financial pressures.
As cyberattacks rise, Australia's new Cybersecurity Act mandates timely reporting of ransomware payments, urging businesses to bolster their defences.
Australia faces a surge in corporate insolvencies, with tech firms like Plutora racking up debts of AUD $37.3 million as businesses turn to software escrow for protection.
AI is transforming hospitality with 85% of Australia's venues using it for data analytics, inventory management, and personalised marketing to boost revenue and efficiency.
Michael Makridakis has joined Taylor David as a Partner, bringing over 20 years' experience in multi-jurisdictional insolvency to the renowned law firm.
Australian small and medium businesses are turning to integrated tech stacks to streamline operations, enhance collaboration, and drive growth amid economic volatility.
Civil contractors warn the slow pipeline could force more job cuts unless immediate work is brought forward to keep firms afloat.
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