Company ‘wind-up’, otherwise known as company liquidation, involves ceasing a company’s operations after it becomes unable to repay its debts as they fall due. Whilst there are typically two means by which a business winds up, either voluntarily as decided…
Are you considering applying for a Personal Insolvency Agreement with your creditors? Previously, the only option people had if they could not pay off all their debts was to apply for bankruptcy. Nowadays however, an initiative made by the Australian…
The majority of personal insolvencies in Australia are caused by non-business related debt. In fact, according to the Australian Financial Security Authority, 81% of debtors who declared personal insolvency last year claimed non-business related activities as the major factor. The…
Company insolvency is a serious issue that can have devastating consequences for the firm and its directors and employees. It is therefore important to act quickly at the first signs of trouble and seek the advice of a professional and…
Australian Insolvency Services (AIS) is an insolvency agency that specialises in providing both corporate and personal debt advice and services. Our team are fully licensed and qualified to help those who are concerned with their personal or business finances. At…
With the increase in fraudulent phoenix activity being detected in Australia, where companies are deliberately placing their companies into liquidation in order to avoid paying their creditors, taxes and employees’ entitlements, the Australia Tax Office (ATO) is working closely with…
Ian Thorpe’s children’s charity, Fountain for Youth, recently collapsed into liquidation. The Australian Securities Investment Commission reported earlier this month that a total of 1,139 companies and organisations faced external administration in January and February of this year. With numbers…
The rising employment rate in Australia is not good news for everyone, according to prominent bankruptcy attorney Victor Sahn. Mr Sahn has proposed that the falling national unemployment rate could have a devastating impact for companies wavering on the edge…
Insolvency figures released by the Australian Financial Security Authority (AFSA) for the March quarter of 2015 reveal an increase in personal insolvency across Australia. Compared to the previous quarter, total personal insolvency activity has increased by 1.5% to reach 6,989…
If you are looking to file for bankruptcy or are considering your options to deal with unmanageable debt, Australian Insolvency Services (AIS) can help. AIS is an insolvency firm that specialises in handling personal debt cases. We are fully licensed…