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NEWS - INSOLVENCY
ASIC gets tough on insolvency
The Australian Securities and Investments Commission yesterday had an insolvent building company wound up - its first move in a campaign to pressure the directors of struggling companies to call in help before it is too late.
Carlovers Carwash placed in voluntary administration
Creditors of Carlovers Carwash will meet in Sydney on Thursday after the company was placed into voluntary administration last Friday.
Website for the lost and found
Shareholders who have lost touch with companies in administration, receivership or liquidation can find the details they need, free of charge, at www.delisted.com.au
WorldCom to file for bankruptcy
Embattled US telco WorldCom will file for Chapter 11 bankruptcy protection, the company's chief executive John Sidgmore said on Sunday.
Financial chatrooms close
Two of Australia's largest online equities forums will disappear from cyberspace tomorrow, their going a stark reminder that the tech boom that once fuelled them is well and truly over.
Creditors force Harts into administration
Creditors have forced listed accounting firm Harts Australasia to back down on its promise to fight the corporate regulator's bid to put the company into administration.
Pasminco collapses
Pasminco, the world's largest integrated zinc producer, yesterday joined the growing list of Australian corporate collapses, being placed in voluntary administration and jeopardising the future employment of its 3,800 employees.
ABA, credit unions applaud bankruptcy reforms
The Federal Government's bankruptcy reform has met with cautious approval from the banking industry.
GSTPay joins the high-tech collapses
High-tech collapses continued to hurt investors yesterday and GSTPay.com.au, Buzzle and Bottleshop.com.au were the culprits.
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