Oceania: Insolvency/Bankruptcy/Re-Structuring

Most people might think that poor economic conditions are the main reason for failure. However, based on liquidator data, the economic conditions cause only 8% of external administrator appointments, which leads to the question: what caused the other 92% of companies to fail?

If a liquidator's conduct falls short, creditors have 2 principal mechanisms through which a liquidator may be replaced: by resolution of creditors or by order of the Court.

The escalating conflict in the Middle East has sent crude oil prices surging to levels not seen since 2022, following strikes on Iran and the near-closure of the Strait of Hormuz...