Bankruptcy

Self-professed "over-achiever" Olivia Franklin shares what she has learnt after being forced to move on from her failed dream, and the more than $100,000 worth of debt that has come with it.

The 51-bed hospital in Melbourne's western suburbs had been open for just over a year before announcing its closure and the appointment of administrators.

The Federal Court grants an extension so the airline can try and avoid liquidation, meaning employees will remain stood down without pay and unable to accept other work for a further two months.

Administrators say up to 20 parties are interested in saving the embattled airline as large debts are revealed at the first creditors' meeting.

Bonza's US private equity backers, 777 Partners, is fighting financial and legal fires around the world with its portfolio of budget airlines and financially struggling football clubs.

A number of strategic issues are blamed for Bonza entering voluntary administration, but some analysts argue it never stood a chance in the first place. Is there still a future where new budget airlines in Australia could thrive? 

Australians are being told to brace for a tidal wave of small businesses going bust, and the job losses that may come with that.

Bonza's collapse is merely the latest in a long history of failed Australian airline experiments, but it probably won't deter others from going in on a wing and a prayer.

Australia's economic cracks are widening, with a record number of businesses now under external administration and many heading for collapse under the weight of weak demand, rising costs and large tax debts. 

With media cameras in position outside court, paedophile John Wayne Millwood pulled an item from his satchel bag. He held it in front of his face as he walked past. The item had his victim's name on it.

It might be a labour of love, but passion isn't paying the bills for thousands of cafes and restaurants who are struggling to stay in business amid rising costs and falling demand.

The Canadian company that operates the festival has taken the extreme moves in order to avoid bankruptcy.

Majestic Cinemas says a slump in film releases has forced it to enter voluntary administration this week despite record-grossing films last year. 

Should the liquidation of Evergrande mean a squeeze on Chinese lending, it will have enormous effect on the global economy – especially the Australian mining industry.

Determined for a better life for her children, a regional South Australian woman has gone from bankrupt to home owner. Kirsty experienced financial abuse, and wants others to know it is possible to rebuild their lives.

Creditors met to decide the future of Ballarat Gold Mine yesterday after 10 months under administration, but not everyone is in agreeance of what actually transpired.

A man who was addicted to gambling for 20 years says he has watched the industry change from a punt at a local TAB to endless betting apps available at the swipe of a finger.

A Darwin builder owing more than $2.5 million to home owners who bought into an affordable housing scheme is being told to pay up.

Homeowners impacted by the collapse of builder Qattro have met to discuss how their half-built homes could be completed.

A report has found a subsidiary of property developer Toplace, failed to pay $25 million it owed to the tax office in 2022 and claims there's little chance of those funds being recovered.

A dairy farmer from the NSW South Coast is quitting the industry after the collapse of a milk processor that has left creditors collectively owed over $3 million.

As the NSW government pushes for more housing density in Sydney, questions about the quality of new apartment buildings have re-emerged after major developer Toplace went into administration.

Celebrated fashion designer Kym Ellery defends her handling of the 2019 collapse of her Australian business. 

A 53.5m luxury superyacht was sold earlier this year to pay back debts to international creditors, but more than $4 million owed to customers is unlikely to be returned. 

A court hears paedophile John Wayne Millwood transferred more than $800,000 to his former partner and daughter the same day he was sentenced for sexually abusing a person who is now in a legal fight to claim a $6 million compensation payout.