What Accountants Should Do When a Client’s Debt Management Problems Suddenly Multiply Every accountant recognises that moment. A client calls in distress, often after a Director Penalty Notice (DPN) arrives or creditors begin formal demands of debt payment. What first appears to be a single debt or business management issue can quickly reveal […]
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 […]
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 […]