Presented by Jones Partners Throughout 2023, cases of corporate insolvency returned to (and even exceeded) pre-COVID levels. It has been a challenging year, with economic conditions creating a hostile climate for businesses. High interest rates, war in Ukraine, COVID stimulus, […]
Navigating a relationship with a financially distressed debtor is both stressful and challenging. Any transaction made by a distressed company to unsecured creditors within the six months prior to the relation-back day (or up to four years for transactions involving […]
Presented by Jones Partners Bankruptcy is often considered as little more than the legal-administrative process that occurs after a person becomes unable to pay their debts. This is a highly reductive way of describing a complex human experience that can […]
Presented by Jones Partners The term “insolvent trust” is a term commonly misunderstood. Trusts cannot technically become “insolvent”, as they are not a separate legal entity. Trusts are better described as a relationship, outlining powers and obligations, owed by a […]
Presented by Jones Partners (Statistics obtained from AFSA Website) June 2023 Totals Personal Insolvency Trends Personal insolvency statistics for June declined slightly from the previous month, which had recorded a total 625 bankruptcies. The most common industries for affected individuals […]
Presented by Jones Partners The Parliamentary Joint Committee on Corporate and Financial Services recently conducted an inquiry (“The Inquiry”) into the efficacy of corporate insolvency law within Australia. The Inquiry contained both commentary and recommendations for the current system. The […]
Presented by Jones Partners Jess (Trustee), in the matter of Lostitch (Bankrupt) v Lostitch [2022] FedCFamC2G 342 FACTS This case concerned the contest between the Trustees of the Bankrupts (Mr and Mrs Lostitch) and their daughter, Rebecca Goodie (‘Ms Goodie’) […]
Presented by Jones Partners Inflation: 6.0 per cent Inflation continues to decline, and whilst progress was initially slow, a more meaningful reduction this past month has occurred. Increasing trade with China (alleviating supply chain issues and increasing supply) and increasing […]
Presented by Jones Partners Since the pandemic, the nature of productivity within Australia has been a hot topic of discussion. Productivity, which refers to how efficiently goods and services can be produced, has been slowing for decades. Productivity describes a […]
Presented by Jones Partners (Statistics obtained by ASIC website) © Australian Securities & Investments Commission Corporate Insolvency Trends The above statistics show a comparison in 2022, 2023 and base line (2017, 2018, 2019) highlighting the total numbers of administrations and […]
Presented by Jones Partners The Matter – Construction Industry Incorporated in May 2006, the company provided polished concrete architecture for kitchens, bars, barbeques, stair treads and street and furniture monuments. The company encountered financial difficulty, with accrued statutory debt of […]
Presented by Jones Partners It is widely known that the Sydney rental market is currently under significant pressure. Excessive demand, low vacancy, increased immigration, high cost of living and a growing population are all contributing to a tense climate. However, […]