Part X: The Most Misunderstood Tool in the Bankruptcy Act and What Accountants Should Know. What is Part X?Understanding the structured alternative to bankruptcy that can protect clients and preserve commercial outcomes. Many individuals only seek insolvency advice once financial […]
When it comes to insolvency, few creditors are more prolific than the ATO. Tax debts are among the most common triggers for formal insolvency, yet many clients underestimate how quickly the ATO can escalate enforcement. For accountants and lawyers, recognising […]
A chance to renegotiate debts and save viable businesses. Insolvency remains one of the most misunderstood and misrepresented areas of law and accounting. Too often, it is seen only as a final resort, when all other avenues have been exhausted. […]
Insolvency is not necessarily the end of the road. When a company experiences financial distress – whether from creditor pressure, poor cash flow, or internal disputes – directors often fear that insolvency is the end of the road. In reality, […]
Tailored arrangements that can relieve financial distress – even when the ATO is the major creditor A more flexible alternative to bankruptcy Personal Insolvency Agreements (PIAs) can provide genuine debtors with a flexible pathway to regain control of spiraling debt. […]
A practical mechanism to break deadlocks and achieve fair outcomes in co-owned property disputes. When co-owners of property fall into dispute, conversations can drag on, emotions flare, and progress grinds to a halt. Section 66G of the Conveyancing Act 1919 […]
Remain Proactive in the Face of Personal Liability What is a Director Penalty Notice? Under the Taxation Administration Act 1953 (Cth), directors can be held personally liable for unpaid company tax debts. This liability is known as a Director’s Penalty, […]
Insolvencies in Australia are on the Rise Current Insolvency Trends in Australia Recent data from the Australian Securities & Investments Commission (ASIC) shows a marked increase in companies entering external administration during the 2025 financial year compared to previous years. […]
A Common Occurrence in the Face of Financial Distress Bankruptcy trustees frequently encounter cases where individuals experiencing financial difficulty transfer assets—particularly the family home—to a spouse or other family member for little or no consideration (payment). This is especially common […]
The Australian Business Landscape: A Risk-Averse Reality Australia’s corporate environment has long struggled under the weight of excessive regulation. For company directors, this red tape often creates a climate of fear—discouraging innovation, stifling productivity, and dampening the appetite for calculated […]
If you’re unwell, you go to the doctor early—because the sooner a problem is diagnosed, the better the chances of recovery. Running a business is no different. Too often, business owners ignore early signs of distress, hoping things will turn […]
What is a personal guarantee? A personal guarantee is a legally enforceable promise to fulfill an entity’s obligations if it is unable to do so. Personal guarantees are a tool available to creditors to pierce the corporate veil and hold […]