The Australian Securities and Investment Commission (ASIC) exerted their power to force 32 Australian companies into liquidation in 2014. This was in order to help 99 of their employees recover more than $1.4 million in entitlements. While many company liquidations…
A Debt Agreement is a legal alternative to bankruptcy, and involves an arrangement between a debtor and their creditors which allows them to pay back an agreed amount of their outstanding debts over a period of time. After a Debt…
The number of debtors across the nation is on the rise, echoing the increase in the number of SME wind-ups in recent months as reported by the Australian Securities and Investments Commission (ASIC). An increase in the number of…
Bankruptcy is a potential debt solution for individuals struggling with their finances and looking for financial relief. However, Australian Insolvency Services recommends that bankruptcy should always be seen as the last resort, as it has serious long-term financial and personal…
The specialists at Australian Insolvency Services pride themselves on being experts in personal debt and corporate insolvency solutions, including voluntary administration, liquidation and receivership. Voluntary administration is an option for businesses that are insolvent, or likely to become insolvent, and…
When a company is facing the prospect of liquidation, the experience for its owners can be both financially and emotionally taxing. They are often stumped as to how to manage the situation without losing control of their finances and assets….
Recent studies have revealed that Generation Y – also known as the millennial generation – are increasingly feeling that, unlike their parents’ generations, they will not be able to achieve such material goals as finding their dream job or buying…
Impressive Electrical, a Melbourne-based electrical company, entered into voluntary administration earlier this year following a liquidation order from the Australian Taxation Office (ATO). The company joins hundreds of other businesses affected by the taxation office’s recent spate of notices ordering…
The Australian business sector has taken a large fall in 2015, with a multitude of names having already entered into voluntary administration or liquidation following significant declines in solvency. Among these are Sydney’s iconic Hugo’s Lounge, La Cita Latin Restaurant…
It often goes a little like this: You get to the local supermarket to pick up some milk and bread. You see some biscuits on sale and grab two packets, and then find yourself repeating this process with the children’s…