Why get advice from an insolvency practitioner
Insolvency Practitioners can provide services beyond formal appointments. They can provide invaluable advice to directors. ...
PAST ARTICLES
Case Study; Director jailed after following dodgy pre-insolvency advice
A former director of Cap Coast Telecoms, Richard Ludwig has recently been jailed for five years with a non-parole period of 20 months. Mr Ludwig had previously pleaded guilty to dealing with proceeds of crime and breaching his duties as a director. ...
Can Your Bankruptcy Trustee Sell your Cryptocurrency?
Cryptocurrencies are fast becoming a popular investment for Australians considering its exponential growth in value over the past decade. Over the last few years, we find more bankrupts owning cryptocurrencies in one form or another. ...
Asset structuring for directors to avoid insolvency risks
No one wants their company to go into liquidation. But if your company does, you want to be in the best position to minimise your personal financial risks. So, how can you do this? ...
Case Study: Lockdown Director Penalty Notices for Unpaid Superannuation
If your company is in financial difficulty, there are numerous risks involved, including the risks of lockdown Director Penalty Notices....
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
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
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 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
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....
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. ...
21-Day Director Penalty Notices – You Can No Longer Avoid Liability by Entering into A Payment Arrangement
The ATO had hit the brakes in collecting tax debts since the start of the COVID-19 pandemic. The ATO however has since the start of 2022 gradually increased its efforts to collect monies owed. ...
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