Bankruptcy & the Age Pension – Not all what it seems!
As Bankruptcy Trustees, we are often asked to assist individuals of many and varied ages on personal insolvency options available to them. Individuals generally have differing financial circumstances and the advice provided needs to be considered on a case…
Crowd Source Funding for Retail Investors. Good idea or the potential for them to be the new Ponzi scheme?
The Corporations Amendment (Crowd Source Funding) Bill 2016 is due to come into operation on 29 September 2017. Crowd Source Funding (“CSF”) continues to be a popular way that allows entrepreneurs/start-ups to raise funds from many investors. Until recently…
Phoenix Activity – Exposing Fraudulent Directors
Whilst it is difficult to accurately determine the true cost of “phoenix activity” primarily due to a lack of relevant data, it has been estimated to cost the Australian economy in the vicinity of $3.2 billion per annum. (1)
What is phoenix…
Bankruptcy and Family Trusts – Are They Still Effective?
Family Trusts have and will continue to be used into the future for a variety of purposes, in particular asset protection. Most Family Trusts notably have a Corporate Trustee. As a Registered Bankruptcy Trustee, I am quite often asked by individuals who may…
Attitude & Corporate Insolvency Profiles 2016
One of my favourite Winston Churchill's quotes is so relevant to directors and owners in Micro, Small and Medium Enterprises ("MSME"). That is: "attitude is a little thing that makes a big difference".
In December 2016, ASIC released its annual overview of…
Directors Vulnerable to Untrustworthy Advisors
As both a Registered Liquidator and Registered Bankruptcy Trustee, I quite often hear about the plight of a family company director or individual who is in financial difficulty being seduced by unlicensed or unregistered supposed professionals (also referred…
Turning ideas of insolvency around
Article as featured in the Acuity October 2016 CA Magazine - Aaron Watson
It’s time people understood the value insolvency professionals add to the economy, say industry representatives.
“You weren’t allowed to be bankrupt or insane.”
That’s…
Is a Bankrupt’s money his/her own?
A question that is frequently asked by an individual that may be contemplating bankruptcy is what happens to the income they earn during bankruptcy. In short, the Bankruptcy Act 1966 (“the Act”) provides that the individual is assessed regarding the requirement…
Our Locations
Sydney CBD
Level 13, 189 Kent Street
SYDNEY NSW 2000
P: 61 2 9251 5222
F: 61 2 9247 5911
Western Sydney
Suite 301, Level 3 – 4 Columbia Court
Nexus Building, Norwest Business Park
BAULKHAM HILLS NSW 2153
P: 61 2 9894 9966
South West Sydney
Studio 2, Shops 10-11
38 Exchange Parade
NARELLAN NSW 2567
P: 61 2 4647 7468
