What Happens To My Credit Rating If I Go Bankrupt?
Avoiding bankruptcy by negotiating settlements naturally avoids the problems commonly associated with being recorded by credit reporting agencies and listed on the NPII register....
PAST ARTICLES
When Is Liquidation The Best Option For Your Company?
We look at the key issues of company liquidation, including circumstances where it is beneficial for a company to be placed in liquidation....
Post Covid-19 Business Restructuring – Voluntary Administration vs Legal Phoenix
Many businesses have been significantly impacted by the Covid-19 pandemic. This may have resulted in them accruing unpayable debts, such as tax debts. A lot of these businesses will return to profitability, however, it may not be enough to pay off the unpaid debts they have incurred. ...
Applying for Bankruptcy: A New Bankruptcy Form
To become bankrupt, you will need to complete a Bankruptcy Form. This is a new form which was issued by the Australian Financial Security Authority (AFSA) in January 2020....
Company Liquidation – Risks for Directors Part 3
Part 3 of Company Liquidation – Risk for Directors. Covering Insolvent Trading and ASIC Director Banning....
Company Liquidation – Risks for Directors Part 2
Part 2 of Company Liquidation – Risk for Directors. Looking at QBCC-related companies. ...
Company Liquidation – Risks for Directors Part 1
Part one of Company Liquidation – Risk for Directors. It looks at the risks of ATO Director Penalty Notices, Director / Shareholder Loan Accounts and Personal Guarantees....
Success Story: Settling Debts for a Property Developer
Through our negotiations with creditors our client avoided liquidation and the risks involved. ...
Coronavirus Financial Impact on Charities and Charity Insolvency
Since the economic impact of coronavirus (COVID-19) hit in March and April 2020, many companies have relied on JobKeeper payments and the deferral of debts by banks, landlords and financiers to avoid insolvency. This includes numerous charity organisations that have seen significant declines in reve...
COVID-19 Disruption – Rent Relief Negotiations and the Code of Conduct
Rent relief negotiations are a vital component of the survival strategy for many businesses experiencing significant disruption due to COVID-19. The National Cabinet’s mandatory Code of Conduct for landlords and SME tenants provides guiding principles for negotiating rent relief arrangements wher...
Changes to Insolvent Trading Laws due to Coronavirus
A company is insolvent if it is unable to pay amounts that it owes to creditors when they become due and payable. There are various relevant in determining when a company is insolvent, some of which are set out here. ...
Liquidation of a Solvent Company by Members’ Voluntary Liquidation
A members’ voluntary liquidation (MVL) is the formal process of winding up a solvent company. During the MVL process, any surplus assets are distributed to a company’s members and the company is ultimately deregistered. ...
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