Total Insolvency Appointments up 28% in 2008

Total corporate insolvency appointments rose 28% from 11,046 in 2007 to 14,173 in 2008.

Year                Insolvency Appointents

2008  14173
2007 11046
2006 12486
2005 11758
2004 10823
2003 10191
2002 10220
2001 10504

Clearly, the global financial crisis is affecting the number of insolvency appointments and it is expected that 2009 will see a further increase in the number of total insolvencies.

Liquidation Direct operates a free insolvency advice line. Call 1300 767 525 for free and confidential insolvency advice – 24 hours per day.

Major builder to cut 1700 jobs within 6 months

Australia’s largest property developer Lend Lease said it will cut 1700 jobs over the next six months, after it posted a loss of almost $600 million for the first half.

Lend Lease is targeting a head count reduction to 10,000, from 12,000, in order to cut costs as market conditions deteriorate. Continue reading

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