What is Liquidation?
From pcllawyers.com.au: The primary goal of liquidation is to ensure that the company’s debts are cleared in a systematic way and any leftover assets … read more
Insolvency
Oceania Glass enters voluntary administration
From www.aumanufacturing.com.au: Oceania Glass, an Australian architectural glass manufacturer based in Dandenong, Victoria, entered voluntary administration on February 4, 2025.
Grant Thornton Australia has … read more
Deception of business lender alleged
From asic.gov.au: Mark Barnes, a director from Sutherland, NSW, has been charged with dishonestly obtaining financial advantages by submitting false invoices to FIFO Capital … read more
When Startups Need a Second Chance
From alvarezandmarsal.com: The prevalence of startup failures and the potential for restructuring strategies, focusing on cash management, operational efficiency, and exit plans, to salvage … read more
Navigating a Restructure: Contractual Rights
From sladen.com.au: Section 454N of the Corporations Act 2001 (Cth) provides protection against the enforcement of certain contractual rights during a company’s restructuring.
The … read more
Recovery of Outstanding SGC
From cathropartners.com.au: The Superannuation Guarantee Charge represents the amount employers must pay for eligible employees when they miss mandatory superannuation contributions.
Starting from 1 … read more
Chargebacks: potential shield for customers of insolvent businesses
From worrells.net.au: The number of companies, particularly online retailers, entering external administration has increased, leaving customers with unfulfilled orders and limited recourse.
A chargeback, … read more
Common mistakes in dealing with company tax debt
From worrells.net.au: Common mistakes in managing company tax debt can lead to overpayments and personal liability for directors.
Looking out for specific traps, such … read more
Liquidators: corporate ghost busters
From worrells.net.au: Businesses facing financial difficulties might consider abandoning their company, but this can lead to serious consequences, including personal liability for directors due … read more
New ASIC Guidance on Insolvent Trading
From sladen.com.au: On December 6, 2024, ASIC updated its Regulatory Guide 217, which advises directors on preventing insolvent trading by actively monitoring a company’s … read more
NSW Supreme Court confirms contravention of section 440B of Corps Act
From www.claytonutz.com: The New South Wales Supreme Court has ruled that parties asserting ownership rights against a company under administration must obtain consent from … read more
recognition of Chapter 11 in Australia
From www.claytonutz.com: The Federal Court of Australia recognized a US Chapter 11 bankruptcy for Exactech, Inc. as a foreign main proceeding under the UNCITRAL … read more
KordaMentha digs into Defence
From www.themandarin.com.au: KordaMentha has established a new defence and national security practice by hiring two prominent partners from KPMG.
This strategic move comes amid … read more
Transport industry liquidations
From worrells.net.au: Worrells has noted a rise in liquidations within the Australian transport industry due to factors such as competitive pricing, the mining downturn, … read more
5 Steps to Help Your Struggling Business Recover
From www.salea.com.au: Businesses struggling with financial challenges should recognize the warning signs, conduct thorough financial health checks, and proactively manage debts to initiate recovery. … read more