From mdl.com.au: ‘Section 459H provides a safeguard for companies facing potentially unfair or invalid statutory demands, while the affidavit in support serves as the essential tool for raising and substantiating any challenges.’… read more
From www.salea.com.au: Company liquidation and voluntary administration are distinct processes for insolvent businesses in Australia, each with different goals and outcomes.
Voluntary administration focuses on rescuing or restructuring a business, allowing for potential recovery under the guidance of an appointed administrator, whereas liquidation involves winding up the company and ceasing operations, with a liquidator assigned to sell assets and pay creditors.… read more
From sladen.com.au: The case of Ford Kinter & Associates Pty Ltd v Reliance Franchise Partners Pty Ltd highlights the importance of creditor funding in insolvency proceedings, as the court ruled that creditors who assume financial risks in litigation can be prioritised for asset recovery.… read more
From www.claytonutz.com: The Australian restructuring landscape has evolved significantly over the past decade, shifting focus from debt enforcement to strategies such as debt-for-equity swaps, influenced by the rise of private capital investors.… read more
From cathropartners.com.au: Building a successful professional practice requires commitment, strategic thinking, and the ability to delegate tasks effectively, as discussed by Nick Hitchens in a conversation with Andrew Blundell.… read more
From worrells.net.au: When a company enters liquidation, liquidators must quickly identify and secure all company assets, including physical and intangible items, to maximize their value for creditors.… read more
From worrells.net.au: Effective April 1, 2025, the Australian Taxation Office will require certain non-compliant small businesses to report GST monthly instead of quarterly, due to issues such as late or incorrect Business Activity Statements.… read more
From worrells.net.au: Voluntary administration can serve as a proactive strategy for businesses in distress, allowing continued operations and stakeholder engagement to enhance sale prospects.
A specialist electrical engineering company successfully navigated insolvency, retaining staff and transferring contracts, culminating in a beneficial sale.… read more
From www.abc.net.au: Brownes Dairy, Western Australia’s oldest and largest dairy processor, is up for sale after its Chinese parent company, Australian Zhiran, defaulted on a $200 million loan.… read more
From asic.gov.au: ASIC issued two infringement notices totaling $37,560 to Chapter Two Holdings Pty Ltd for misleading statements regarding debt management outcomes on its website, claiming the company falsely stated it had wiped $80 million in debt and saved consumers $30 million in interest.… read more
From creditorwatch.com.au: RiskScore is a unique credit risk scoring system from CreditorWatch that evaluates the creditworthiness of customers in the hiring and rental industry, utilising data from various sources to predict potential defaults.… read more
From asic.gov.au: ASIC published Information Sheet 293, detailing the process for individuals or entities to request authorisation as eligible applicants under the Corporations Act 2001.… read more
From allens.com.au: The NSW Court of Appeal ruled that letters of comfort don’t make a company liable for debts admitted by a liquidator.
Liquidators’ admissions can’t create new company liabilities or change existing ones.… read more
From creditorwatch.com.au: CreditorWatch’s Business Risk Index for March 2025 reveals a 42% increase in invoice payment defaults compared to the previous year, highlighting significant cost pressures affecting Australian businesses, particularly in discretionary sectors.… read more
From acuitymag.com: Business turnaround specialists develop strategies to rescue struggling companies from insolvency while addressing mental health challenges faced by business owners.
By focusing on early intervention and a balanced approach, these specialists aim to stabilize operations and support clients in financial distress.… read more