Our newsletters are designed to inform our clients and contacts about the latest issues and updates regarding insolvency, bankruptcy, and business management. Our May Newsletter incorporates the following articles: Read the full newsletter below: Newsletter May 2025
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 […]
Welcome to our March 2025 Newsletter! Our newsletters are designed to inform our clients and contacts about the latest issues and updates regarding insolvency, bankruptcy, and business management. Remain alert, be pragmatic. If you need advice, we’re here to help. […]
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 […]
In the current economic climate, a substantial number of Australian companies and individuals have accumulated significant debt with the Australian Taxation Office (ATO). Often, the best way to address spiraling debt will involve placing the company into voluntary administration or […]
Insolvent trading refers to a company that is unable to meet debts when they fall due, that continues to incur debt. Determining the period of trading while insolvent is a complex question of law and accounting. Company directors have a […]
Economic uncertainty following the COVID-19 pandemic has placed significant financial strain on families, leading to an increase in bankruptcies. When bankruptcy intersects with family law, proceedings often become complex and contentious. If the matrimonial home has equity, a tug-of-war between […]
During the pandemic, an unprecedented level of fiscal support was provided to Australian companies. Many struggling firms were able to survive, sustained by a steady diet of taxpayer capital, existing in a commercial fantasyland. Additionally, record-low interest rates during the […]