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22 Oct Business and Assets For Sale – Smart City Solutions Pty Ltd

Posted at 10:04h in Insolvency News, Recent Posts by SV Partners

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[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]For an Information Memorandum, please contact Stuart Starr from our Adelaide office on (08) 7077 2444 or email [email protected][/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_single_image image="10787" img_size="large" qode_css_animation=""][/vc_column][/vc_row]...

08 Oct Voluntary Administration – What is it and how does the process work?

Posted at 11:40h in Blog Post by SV Partners

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[rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] Voluntary Administration (VA) is an insolvency process that can allow an otherwise likely insolvent company and its director(s) the opportunity to freeze all creditor recovery actions, and put forward a formal offer to creditors to compromise or settle their debts. This process can be quick, typically lasting between 25 and 30 business days, and must be undertaken through the appointment of an independent Voluntary Administrator. A company...

24 Sep Insolvency Law Reforms 2020

Posted at 16:50h in All by SV Partners

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[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]As the economy continues to recover from the Coronavirus pandemic and the associated lockdown measures across the country, the Morrison Government has announced changes to Insolvency laws to aid businesses in the recovery process. These changes are to commence on the 1st January 2020. The Australian Restructuring Insolvency & Turnaround Association (ARITA) has released an announcement today (29/09/2020) regarding the COVID-19 temporary insolvent trading...

15 Oct Protected: Beware the Lawyers “fruits of the action” Lien!

Posted at 09:51h in Blog Post by SV Partners

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[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text][rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] [/vc_column_text][/vc_column][/vc_row][vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]A lien is defined typically as “a right to keep possession of property belonging to another person until a debt owed by that person is discharged” or, in other words, it is a form of unregistered security that we need to be aware of. A recent case highlights how a lawyers lien was...