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Stay up to date with the latest news and information in the insolvency, forensic, turnaround and advisory industry. Looking for further information regarding insolvency, turnaround and forensic advice? Contact a member of our team today.

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Page 2 of 26

Expressions of Interest – Betel Disposable Pty Ltd (In Liquidation)

Expressions of interest sought for a large quantity of catering stock

Tags: 2018

August 22, 2018

Expression of Interest: North Buderim and Buderim IGA

The Appointed Liquidator for Crous Retail Enterprises Pty Ltd, (operated the North Buderim IGA) and Crous Retail Management Pty Ltd, (operated the Buderim IGA) SV Partners, confirms the liquidation of the above businesses as at 12 July 2018, with David Stimpson as the appointed liquidator. SV Partners are currently liaising with prospective purchasers and other stakeholders regarding a sale with the hope of reopening the stores. SV Partners are confident...

Tags: 2018

August 3, 2018

Transferring Property Prior to Bankruptcy

Often, people with financial difficulties facing pressure from creditors will try to protect their property by transferring it to a spouse or family member to avoid the property forming part of the asset pool if the person later becomes bankrupt. The following options are available to bankruptcy trustees to recover property that was transferred by a person who later becomes bankrupt:

Tags: 2018 Adam Kersey

June 4, 2018

Revenue Recovery and Levelling the Playing Field

It’s common knowledge that the Australian Taxation Office (ATO) is often one of the last creditors to be paid and is used by businesses and taxpayers intentionally or unintentionally as the “Bank of Last Resort”. In recent years there has been a lot of talk on phoenix activity, tax avoidance etc. and its effect on the Australian economy.

Tags: 2018 Lauren Graham

Life Interests in Property

Dealing with a life interest in property isn’t something you, your clients or even bankruptcy Trustees encounter very often, however, there are some important points to note should you come across one. It is common that real property held in a deceased estate is left to the beneficiaries of the deceased estate. The beneficiaries may have the property transferred into their names or the property may be sold with the sale proceeds distributed to the beneficiaries.

Tags: 2018 Michael Jeston

May 30, 2018

Self-Employment and Bankruptcy

Sole Proprietorship businesses (also known as “Sole Traders”) are the simplest and cheapest business structure to create in order to operate a business and that makes them a popular choice for business owners looking for flexibility in operations, management and exit. The Australian Bureau of Statistics (ABS) data shows that Sole Traders account for approximately 26.2% of all registered businesses operating at the end of the 2016-17 financial year, a 4.5% year on year increase from 2015-16.

Tags: 2018 Fabian Micheletto

Finding a Safe Place to Restructure in a Deep Ocean

We have all seen the newspaper headlines trumpeting the virtues of Safe Harbour and using professional, regulated advisors to navigate the rough waters of insolvency.

However, burning questions have long held my mind – will this really be suitable for Small to Medium Enterprise (SME) sized companies? Can the average sole director really take advantage of this regime? Or really will it only suit medium to large private companies or public companies that have sophisticated boards and proactive accountants? Will the compliance and payment obligations be too onerous for the majority of SMEs to even avail themselves?

Tags: 2018 Jason Porter

The Gift That Never Gave

In recent years, we have seen the increase of retail businesses going under; Dick Smith, Pumpkin Patch, Payless Shoes and the latest casualty, Toys R Us Australia, to name a few.
You don’t have to look far to see the outrage across social media from consumers who have lost their right to use their gift cards.

Tags: 2018 Mel Purcell

Personal Insolvency Statistics – Eastern Seaboard March 2018

Queensland, New South Wales and Victoria recorded the highest amount of personal insolvencies for the March quarter and their figures make up over 75% of personal insolvencies Australia wide.

Tags: 2018 Joshua Robb

May 16, 2018

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