What is the impact on my personal assets as a director if my company is insolvent? It is a common misconception that if you are a company director and fail to pay the company’s debts when they are due, your…
You may have heard about Virgin Australia Group being placed into administration back in April 2020, or the many retailers having to shut their bricks and mortar stores. These are just some of the examples of the significant impact the…
The JobKeeper program that provides a wage subsidy to workers of up to $1,500 per fortnight is due to end in September. If you would like to more information on JobKeeper click here However, with the surge of cases in…
With some states in Australia potentially experiencing a second wave of COVID-19, many businesses are still struggling to cope with the financial repercussions since the start of the pandemic. As a director, you may be aware of the temporary relief…
You may have heard or is already currently accessing the JobKeeper payment scheme by the Australian Government to support employees and businesses affected by the Coronavirus. This is where the Government provides $1,500 per fortnight (before tax) until the 27th…
The COVID-19 (Coronavirus) pandemic has caused a range of unforeseen challenges and jeopardised the survival of many businesses. To ensure the survival of your business, below are some actions you should take: Revising strategy and reviewing financial statements With…
On March 25 2020 the Coronavirus Economic Response Package Omnibus Act 2020 came into effect in response to the economic impact of COVID-19 (coronavirus). The Act makes significant changes to both insolvent trading laws and creditor statutory demands. These changes…
Have you ever come across the term Deed of Company Arrangement (DOCA) when looking at options to lessen the burden of debt for your company? You may have wondered what is a DOCA and how it will help your company…
Recent stories in the media have revealed the horrific reality of owning a franchise. Many franchisees complain that the lack of support from their franchisors have led to the demise of their businesses and, consequently, their own personal solvency. …
If your business is unable to meet its debts as they become due, it’s important that you act immediately and seek professional advice. Here at Australian Insolvency Services, we offer a range of business debt solutions that will help you…