An alternative to bankruptcy Personal insolvency agreements (PIA) are outlined in Part X (Part 10) of the Bankruptcy Act 1966 (Cth), offering distressed individuals a flexible way to manage their debt and regain control of their finances. A PIA proposal […]
Understand your personal circumstances before filing for bankruptcy Effective navigation of financial difficulty requires careful consideration for the unique circumstances of the distressed individual. The following article contains 5 questions a financially distressed individual should ask themself, before filing for […]
The role of voluntary administrations When a company encounters financial difficulty, it can be placed into voluntary administration, to provide the required breathing space to assess its future financial viability. In this situation, the interests of the company and employees […]
The past few years have brought significant challenges to the construction industry. Supply chain issues, rising costs, fixed price contracts and increased activity from the ATO have created a perfect storm of conditions, that (as expected) has led to a […]
Pre insolvency advisors can pose a significant risk to distressed individuals and companies. In Australia, pre-insolvency advisors are largely unregulated. Unlike a qualified insolvency practitioner, an advisor is not trained to actively manage insolvency processes. They can be expensive and […]
As parents get older, concern for the financial future of their children becomes an increasingly pressing worry. These anxieties are exacerbated when a child has a history of financial mismanagement, addiction or mental health struggle. There are many ways to […]
Small businesses have been doing it tough these past few years, particularly post-pandemic. It is more important than ever before for directors to remain alert and pragmatic when facing financial difficulties. The following article contains 3 critical signs that a […]
China’s economy has prospered under strong economic growth for decades. The recent contraction of the Chinese economy post-pandemic has stoked domestic concern for the Australian economy, derived from Australian reliance on Chinese purchasing power. Chinese GDP growth currently sits at […]
More than four years since the covid pandemic first begun, the term “Insolvency Armageddon” is once again splattered across news headlines. But what is the reality? Corporate insolvencies have finally bounced back and are exceeding pre-covid levels. This is better […]
Insolvency processes and debt restructuring are plagued by misconceptions. An insolvency practitioner does not restructure entire business operations. They do not provide a magical solution that can transform an unprofitable business into a roaring success. The role of an insolvency […]
When a company is wound up, a liquidator is responsible for evaluating the competing claims of creditors in accordance with the priority regime. Claims in relation to secured property are often highly complex. There are usually numerous, competing claims. Often, […]
You and your partner purchased a residential property together. At the time, it made great financial sense. However, your relationship has since broken down. You have vacated the premises and have filed for separation. Your partner remains in the property, […]