WESTERN Australia has registered a sharp increase in the number of individuals going bust.

Fresh figures on personal bankruptcies reveal that bankruptcy rates in Western Australia increased by almost 13% by the end of 2008 (more…)

AUSTRALIAN businesses fear the next three months will be their toughest quarter yet - they fear the financial crisis will keep driving down sales, profits and employment levels.

A nationwide survey of 1200 companies revealed more than 50% were preparing for a drop in sales, while 59 per cent expected lesser profits. (more…)

THE fallout from the row between Commonwealth Bank and its abortive capital raising undertaken by investment bank Merrill Lynch reverberated around the group’s share price yesterday despite the success in finally getting away its replacement $1.65 billion offer.

The focus has now switched back to the original disclosures and bad debt likely to rise to $2.5 billion next year. (more…)

If a company is in financial difficulty, it can be put into voluntary administration.

This information sheet provides general information for unsecured creditors of companies in voluntary administration. (more…)

MAJOR mining companies have started laying off more than 500 workers as the global financial crisis grips the resources sector. (more…)