Temporary Relief for Directors Personal Liability for Trading Whilst Insolvent

Readers may possibly recall that the Federal Government announced a raft of temporary relief measures in late March 2020, some of which were aimed at giving directors of companies’ confidence … Read More

COVID-19 – TEMPORARY RELIEF MEASURES

On 22 March 2020 the Government announced temporary relief for financially distressed companies, to help businesses get to the other side of the Coronavirus crisis. These provided a regulatory shield … Read More

Temporary Relief for Directors Personal Liability for Trading Whilst Insolvent

Readers may possibly recall that the Federal Government announced a raft of temporary relief measures in late March 2020, some of which were aimed at giving directors of companies’ confidence … Read More

Temporary Relief Measures for Financially Distressed Businesses Extended – Proceed with Caution

The Federal Government announced on 7 September 2020 a further extension to 31 December 2020 of temporary relief measures that were previously set to expire on 24 September 2020. Curiously, … Read More

Why strong emotional cashflow is critical for success

Covid 19 was first confirmed in late January 2020. Subsequently on 20 March 2020 restrictions such as the closing of our borders and social distancing were introduced. Since these restrictions … Read More

Beware of Zombie Companies Post Covid-19

The proliferation of zombie companies pre Covid-19 has largely been fuelled by reduced financial pressure. Examples being financial institutions continuing to offer (or not otherwise call in) finance to non-viable Read More

Directors Personally Liable for GST

Directors can already be held personally liable for Pay-As-You-Go [“PAYG”] and Superannuation Guarantee Charge [“SGC”] liabilities of a company in certain circumstances via the Director Penalty Notice [“DPN”] regime. 2020 Read More

Bankruptcy & Financial Rehabilitation of Individuals

Bankruptcy is a concept that is frequently misunderstood, particularly given that in Australia it relates to the affairs of an individual as opposed to a company (noting in America the Read More

It doesn’t need to always end in bankruptcy?

Over the twenty-five (25) years that I have been advising individuals who have been in some form of financial difficulty, I believe between 15-20% of those bankruptcies to which I Read More

Australian bankruptcy numbers at a 24-year low. Credit card lending at an 8-year low. Is this good news?

Before we crack open the champagne, we need to put these statistics into perspective rather than looking at them in isolation – specifically let’s look at what appears to have … Read More