If you are in the building industry in Queensland, chances are you or your company holds a license issued by the Queensland Building and Construction Commission (“QBCC”). The QBCC is a statutory body set up to regulate the construction or building industry. ...
The small business restructuring scheme was introduced during the COVID-19 pandemic to streamline business debt restructuring and reduce costs. It has been 18 months since it became operational, and many struggling businesses have opted to take advantage of the scheme....
Liquidating your company involves appointing a Liquidator to sell the company's assets and distribute the proceeds to creditors. Shareholders typically resolve to place the company in liquidation, either by unanimous agreement or through a special resolution at a shareholders' meeting. The Liquidator will then handle the liquidation process, with your assistance in providing records and information. Costs vary depending on the company's assets, but upfront fees are usually required if assets are limited. For more information or assistance with liquidation, contact our Brisbane or Gold Coast office....
Bankruptcy can provide relief from most debts, but it comes with obligations like paying income contributions if your earnings exceed a certain threshold. While many comply, falling behind on these payments can have severe consequences. These include garnishing wages, setting up monitored bank accounts, or even extending the bankruptcy period up to eight years. If you're struggling with these contributions, it's crucial to engage proactively with your Trustee, possibly renegotiating your payment plan. Need assistance or advice on managing bankruptcy obligations? Contact Pearce & Heers for guidance....
Liquidations can be a costly affair for directors of companies that are already failing. Voluntarily placing a company without assets into liquidati...
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? ...
We are often referred clients whose husband or wife has passed away and the deceased estate is insolvent. If the husband and wife have jointly-owned a property (or properties) there are two ways the property can generall...
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....
Is liquidation necessarily bad? Should you avoid liquidation at all costs? Or can liquidation actually be the best thing for your company? This article looks at the key issues of company liquidation....
Recognising and admitting that a business is in trouble is a first step to recovery. Identifying the signs of insolvency and acting early provides the business the best chance to turn around....
We look at the key issues of company liquidation, including circumstances where it is beneficial for a company to be placed in 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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Fax: 07 3221 8885
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