What is Bankruptcy Annulment? If you have declared bankruptcy and you want to get out of bankruptcy earlier than the usual period of 3 years, you have 2 options. An annulment can be achieved in several ways: You pay out…
What are the different types of company liquidations? Liquidation of assets is an inevitable part of closing a business’ doors. If you have to liquidate your company, there are important details and steps you need to know to simplify the…
How to Dissolve a Business Partnership? (2022 update) A “dissolution” is the termination of a partnership. There are many reasons a business partnership might end, but it’s crucial to know what to do next to fulfil your financial and legal…
When companies are facing financial distress or solvency problems there are three main options available – voluntary administration, receivership, and liquidation. It is important to choose the remedy most suited to your desired outcome. Voluntary administration is the most…
Understanding the early warning signs of insolvency With the world in financial trouble and the economy suffering, as a result, the Australian government has always been helpful over the years in providing support to individuals and business owners. Despite this…
Managing Cash Flow in a Business: How Well Are You Doing It? (2022 Guide) Your company’s cash flow is its lifeline. Poorly handled, it can affect your company’s profitability and stability. Therefore, it’s crucial to keep a close watch over…
Sometimes as a company director things don’t go as planned and you realise you are at risk of insolvency. Under Section 588G of the Corporations Act 2001 directors have the duty to prevent insolvent trading. Failing to comply can make…
Should My Company Enter into Company Liquidation or Voluntary Administration? If you are struggling with company debts, you may be considering two business debt solutions: Company Liquidation and Voluntary Administration. Both options are available to companies which are insolvent or…
What Is Personal Insolvency and how does it lead to Bankruptcy? Personal insolvency is a word that describes a person’s financial situation. It refers to a situation in which you are unable to pay your personal bills when they are…
3 Tips for Managing Your Finances and Getting Out of Debt Getting out of debt may be one of the most liberating experiences in your life. The journey is difficult, however with the proper finance strategies and discipline, you will…