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. ...
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....
Part 3 of Company Liquidation – Risk for Directors. Covering Insolvent Trading and ASIC Director Banning....
Part 2 of Company Liquidation – Risk for Directors. Looking at QBCC-related companies. ...
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....
Through our negotiations with creditors our client avoided liquidation and the risks involved. ...
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...
Our client could have avoided Director Penalty Notices and the liability involved. Contact us before it's too late. ...
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...
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. ...
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. ...
On 6 March 2020, the Federal Government introduced a Superannuation Guarantee Charge (SGC) amnesty. The amnesty allows employers to disclose and pay previously unpaid SGC whilst taking advantage of some benefits. ...
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