What was the situation? Our client who operated a greeting card business until the late 1990s advised us that this entity had outlived its useful purpose and as such…
What was the situation? Our client operated a short-term rental accommodation business which was heavily reliant on overseas students and hospitability workers. Thus, it was deeply affected from plummeting…
What was the situation? National Art Materials Pty Ltd (NAM) has been one of Australia's premier wholesale art suppliers for over 30 years. As a result of a grouping…
What was the situation? Our client is one of Australia's leading food processing companies with annual turnover of $90m and over 100 employees. Our client had experienced significant losses…
ATO's current approach to debt collection will change The ATO paused debt collection to bushfire impacted communities in late 2019, and then extended this across the entire population from…
What are the new reforms? The government has made changes to our insolvency framework to help more small business restructure and survive the economic impact of Covid-19. Where restructuring…
Where to from here? At the end of September 2020, temporary relief for financially distressed businesses (directors' personal liability for insolvent trading, increase in the threshold at which creditors…
“But there are also unknown unknowns-the ones we don’t know we don’t know. And if one looks throughout history, it is this category that tend to be the difficult ones”…
Act early All directors should be alert to signs of insolvency. The sooner early warning signs are detected and acted on, the…