Read More Simplified Liquidation &
Small Business Restructuring Process

[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_text]Restructuring a viable but insolvent company will usually involve formulating a proposal to creditors, either informally or via a formal insolvency process. Informal Proposals Informal proposals to creditors are more likely to be successful when: creditors with small amounts due are paid in full. This enables the directors to focus on negotiations with major creditors; the directors are upfront with...

[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_text]With the stimulus and protection measures introduced by the Federal Government coming to an end, companies may face pressure from creditors once again. Any prudent director of a company facing financial difficulties should seek the advice of their accountant or solicitor before taking any steps to address financial difficulty. Where appropriate, the expertise of a suitably qualified insolvency professional...

[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_text]Inheritances from deceased estates can result in some of the largest funds received by individuals in their lifetime. Usually the major asset in a deceased estate is the real property owned by the deceased at the time of their passing. In some instances life tenancies are provided by the deceased in their Last Will and Testament (Will) which can cause...

[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]Retention of Title (RoT) clauses are a common method by which suppliers of goods seek to protect their interests in the event that a customer is subject to an insolvency event. RoT clauses may fall into one of the following categories: Simple RoT clauses – the supplier is entitled to recover specific...

[rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] Many businesses have managed to survive in the COVID impacted economy by: [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] transforming their businesses to operate in an online environment; relying on indulgences from creditors (landlords, suppliers, ATO); taking advantage of Federal and State Government stimulus measures. So what happens in late September 2020? September 2020 will be a critical month for many businesses and the economy in general. In...