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PAST ARTICLES

Is it an offence to gamble and lose money before bankruptcy?

Is it an offence to gamble and lose money before bankruptcy?

It is a little-known fact that it can be an offence to gamble leading up to your bankruptcy. This is because Section 271 of Bankruptcy Act 1966 (the Act) provides that it is an offence for a person to gamble away funds within two years of the commencement of their bankruptc...

Risk of the ATO issuing a Garnishee Notice to your employer: A Case Study

Risk of the ATO issuing a Garnishee Notice to your employer: A Case Study

If our client had contacted us earlier, we could have advised him of how to deal with his tax debt and the risks involved....

How to remove a Bankruptcy Trustee

How to remove a Bankruptcy Trustee

If you are a creditor of a bankrupt estate, you may not be happy with the steps taken by the Bankruptcy Trustee. This can include steps taken to ...

Dangers of director penalty notices

Dangers of director penalty notices

If a company does not pay superannuation and it also fails to lodge SGC Statements, the directors are automatically liable for the unpaid superannuation and can be issued Director Penalty Notices. ...

Dangers of ATO Garnishee Notices: A Case Study

Dangers of ATO Garnishee Notices: A Case Study

This is Case Study of what happened to a client when the ATO issued a Garnishee Notice to their bank. And what our client should have done to avoid the risk....

How to replace the Liquidator of a company

How to replace the Liquidator of a company

Liquidators are obligated to act independently and in the best interest of creditors. However, there can be times, when creditors look to appoint another Liquidator....

Wrongly claimed JobKeeper? What happens next?

Wrongly claimed JobKeeper? What happens next?

Back in March 2020, the Federal Government rolled out the JobKeeper scheme. The scheme was intended to assist businesses that were financially impacted by the by the Covid-19 pandemic. ...

Success Story: Settling a $785,000 bank debt for $26,000

Success Story: Settling a $785,000 bank debt for $26,000

Can you settle a large debt you owe to your bank for a minimal amount? Read how we helped a client settle for less. ...

Small business restructuring: What are the problems and risks

Small business restructuring: What are the problems and risks

If you are considering the small business restructuring process, ensure that you consider the issues discussed in this article....

Construction insolvencies to rise in 2021

Construction insolvencies to rise in 2021

It is anticipated that from mid-2021 onwards there will be a significant increase in insolvency appointments as various government stimulus packages come to a close....

Business tax debts increase because of Covid-19

Business tax debts increase because of Covid-19

As a result of Covid-19 there has been a significant increase in the level of tax debt owed to the ATO. This has seen unpaid tax debt nearly double in the last four years. ...

What Happens to Debts of a Deceased Estate?

What Happens to Debts of a Deceased Estate?

The executor or administrator of a deceased estate will have the duty to deal with the deceased’s debts and pay them where possible from the deceased’s assets. The remainder of the estate after the payment of these debts will be distributed to the deceased’s beneficiaries. Some estates, howev...

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