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Dirty Deeds – Not Dirt Cheap! QBCC Deeds of Covenant and Assurance

Reading Time: < 1 minute Has your Client signed a Deed of Covenant and Assurance (Deed) with the Queensland Building and Construction Commission (QBCC)? If so, they (the Covenantor) have guaranteed the payment of debts incurred by the building contractor/licensee up to an amount prescribed in the Deed…..and also provided security over any real property they own! In the event of a bankruptcy or liquidation of the builder/licensee, the debt...

Tags: 2021 Bankrupt Insolvency

December 20, 2021

Bankruptcy Myth Busters…and Helpful Facts

Bankruptcy is often a scary, confusing process for individuals and loved ones. To help demystify the bankruptcy process, we will explain the impact on a Bankrupt and Partner. Fact 1 – Assets and Income of a Partner that is not Bankrupt If your Client goes bankrupt and their Partner does not, the assets and income of the Non-Bankrupt Partner do not form part of the bankrupt estate, that is, the…

Tags: 2021 Bankrupt Bankruptcy Insolvency

Indicators of Insolvency

Reading Time: 5 minutes With COVID-19 related restrictions easing in several states of Australia, many Australian businesses are returning to some sense of normal. That normal may be staff returning to offices, businesses being allowed to re-open or restrictions on capacity limits being lifted. It has been said that the government assistance (such as JobKeeper, COVID-19 disaster payments, tax relief measures, COVID cash flow boost, moratorium on insolvent trading and...

Tags: 2021 Bankrupt Bankruptcy Insolvency

Bankruptcy Indexed Amounts

In a bankruptcy, there are certain limits/amounts that impact a bankruptcy, including: The number of assets that can be retained by a Bankrupt The amount of income that can be earned before the Bankrupt is liable to pay amounts to the bankruptcy The amount of credit that can be obtained by a Bankrupt, without providing disclosure Below are some of the main indexed amounts that impact a bankruptcy. A full...

Tags: 2021 Bankrupt Bankruptcy Insolvency

Four Simple New Year’s Resolutions for Business Success

Reading Time: 4 minutes With the silly season in full swing, many business owners are focused on their final jobs for the year before making it to the holiday season and taking a much-needed break to re-energise for the New Year to come. We thought this was the perfect time to put together a list of four simple New Year’s resolutions for business success that could be provided to your...

Tags: 2021 Bankrupt Bankruptcy Insolvency

Business Improving or Time To Exit With Dignity?

Reading Time: 3 minutes It’s finally December and time to reflect upon the year at a personal level. It’s also an opportune time for staff to make a self-assessment of performance for the last 6 months and to sit down with their manager/director for some feedback on what has been and to discuss what goals should be set for the year ahead. They say that what you fail to measure...

Tags: 2021 Bankrupt Bankruptcy Insolvency

Managing Cashflow Post-COVID

In November 2019 I authored an article entitled ‘Surviving the Christmas Cash Flow Hangover – A Retail Focus’ and in March 2020 I authored an article entitled ‘Managing Cashflow following a Disaster’. In both those articles it was discussed that the December Business Activity Statement is often the largest one for the year due to the higher sales that Christmas generates, which results in a large GST bill and a…

Tags: 2021 Darren Vardy

December 16, 2021

Can I Trust My Trust?

Reading Time: 4 minutes Trusts have become a fairly common feature in asset protection in Australia, particularly over the last 20 or so years. Lawyers, accountants and financial planners often advise clients to structure their affairs in order to offer the best possible chance of protecting assets, which often involves assets being placed into a trust structure. On the face of it, trusts offer an additional layer of protection (amongst...

Tags: 2021 Bankrupt Bankruptcy Insolvency

December 20, 2021

SV Partners Appointed Liquidators of myCryptoWallet Pty Ltd

SV Partners has been appointed Liquidators of myCryptoWallet Pty Ltd on 3 December, 2021. A resolution was provided at the general meeting with the members of the Company, that the company be wound up and Terry van der Velde appointed Liquidator. It is encouraged that all affected customers and affected parties of myCryptoWallet Pty Ltd contact [email protected] as soon as possible. SV Partners will distribute the First Creditors Report within…

A yellow sign with an exclamation mark | SV Partners

Tags: 2021

December 6, 2021

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