For decades, one of the most reliable wealth extraction strategies in Australia has been the use of a Members’ Voluntary Liquidation (MVL) — the formal solvent wind-up used to distribute a company’s reserves...

Corporate regulator ASIC is investigating the collapse, and whether there is a claim of insolvent trading.

Update on lending and property market

The Parliamentary Joint Committee on Corporations and Financial Services began another inquiry into corporate insolvency.

Explores recent insolvency reforms, particularly in regard to the powers of creditors during creditors' meeting in a VA.

The option of refinancing through a restructure should be considered by businesses facing financial distress.

The focus of the article is on how the offer under a Deed of Company Arrangement (DOCA) is developed.

Director loans are common assets which liquidators identify once they are appointed liquidators of a company.

The reform has been presented as a privacy and safety measure aimed at reducing identity theft and cyber-enabled risks.

The report of the inquiry into corporate insolvency recommended a comprehensive and independent review of insolvency law.

Metigy's liquidators were trying to determine if there were further claims they could pursue for creditors.

The impact of COVID-19 has seen and will continue to see some permanent changes in the small to medium business sector.

You receive an urgent email from the CEO requesting a payment be processed before the end of the day. The email looks genuine, the writing style appears familiar, the address is correct and relevant supporting documentation is attached.

Despite recent legislative changes in corporate insolvency, directors must act in the best interests of their company.

Some issues an individual should consider before taking on a directorship.

When will I get paid if the Company that owes me money is placed into External Administration?

Advisors should monitor their clients businesses closely to consider whether this SBRP option might be worthwhile.

When an insolvency practitioner is appointed to a small or medium enterprise (“SME”), a consistent pattern emerges in relation to the owner’s investment in the company. In the majority of cases, the business owner has put a substantial amount of their own money into the business, typically drawn from savings, a personal loan or a redraw against the family home and that money has either been recorded as share capital or as a loan that was never documented or secured.

The SBR framework has quickly become one of the most widely used mechanisms available to financially stressed SMEs. Key requirements expected from ATO.

Proper management of working capital is critical to achieving business growth to generate value and strengthen returns.