Who Appoints the Liquidator to an Insolvent Company? The type of liquidation chosen will determine who can appoint the liquidator. Creditors’ Voluntary Liquidation A Creditors’ Voluntary Liquidation, also known as a voluntary liquidation, is initiated by the company’s directors and…
What is the director personally liable for during company insolvency? If you are a director with a struggling business, it is important to know how your company insolvency may affect you personally. You should be aware of the situations in…
New Debt Agreement Reforms – What are the Changes? In September, the government introduced the Bankruptcy Amendment (Debt Agreement Reform) Bill 2018. For individuals struggling financially, debt agreements are a significant and popular alternative to personal bankruptcy. This legislation aims…
As a business owner or director, it is essential to always be mindful of the early warning signs of company insolvency. By recognising and becoming aware of the indicators, business owners are empowered with the opportunity to renew, improve, and…
No one ever wants to reach the stage of bankruptcy, but once you are there, is there any way out? Automatic Discharge from Bankruptcy Bankruptcy usually ends three (3) years after you lodge your Statement of Affairs, but the…
As a business owner or director, it is essential to always be mindful of the early warning signs of company insolvency. By recognising and becoming aware of the indicators, business owners are empowered with the opportunity to renew, improve, and…
For many business owners managing profitability is a daunting task. We have come up with 5 simple tips to help you avoid company insolvency. Monitor your cash flow weekly A cash flow helps you predict expected cash inflows and cash…
While insolvency will have an immediate effect on your present, it can also have an effect on your future. Have you ever considered what happens during life after Insolvency? Below we’ve listed what to expect. What happens after discharge from…
Federal Parliament Introduces New Insolvency Laws The government introduced new Safe Harbour laws through the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 late last year. What will this mean for you? The Safe Harbour…
Declaring bankruptcy is a way for you to surrender to your personal debts and start again in 3 years, however, there are some restrictions that are put in place whilst you are bankrupt. Once you declare bankruptcy, your future ability…