by Mitch | Oct 20, 2017 | Accounting, ATO, Bankruptcy, Blog, Business Budgeting, business management, Insolvency, Recovery |
The Turnbull government recently took some long-anticipated action to clamp down on illegal phoenix activity – and it’s been welcomed by many. These reforms will go a long way to deterring the unethical behaviour of some advisers and directors taking advantage of the...
by Chad | Oct 12, 2017 | Accounting, Bankruptcy, Blog, liquidation |
If your client is a creditor of a bankrupt estate, they currently they have the right to request to change the trustee. However, new legislation (The Insolvency Law Reform Act or ‘ILRA’) that came into effect in September 2017 and this will change the process of doing...
by Mitch | Oct 5, 2017 | Accounting, Bankruptcy, Blog, Business Budgeting, business management, Cashflow, Insolvency, liquidation |
You’ve probably heard this from a client or two in your time: “My company is going into liquidation. What happens to my personal liabilities?” So, what’s your answer? Getting the news that your client’s company is on the verge of collapse is never something you want...
by Chad | Sep 11, 2017 | Accounting, Bankruptcy, Blog, Insolvency, liquidation |
When a company director calls and says “I am going to declare myself a bankrupt” it helps to know the exact implications of this decision. The question “What happens to my company if I go bankrupt” will certainly come up. What are the implications for the directorship...
by Mitch | Aug 21, 2017 | Accounting, Bankruptcy, Blog, Insolvency, liquidation |
Here’s the situation. Your client is owed money from a customer. Pretty standard right? But what if that customer goes into liquidation? Now that’s a different story. And often, that story doesn’t have a happy ending. But, it no longer has to be that way. The...
by Chad | Jun 29, 2017 | Accounting, Bankruptcy, Blog, Insolvency |
The Federal Government has proposed numerous changes to Australia’s insolvency laws. Some of these came into effect on 1 March 2017, and the rest will come into effect on 1 September 2017. The two changes that could benefit Directors the most are: introducing Safe...
