Article
Beware claw-back of contributions to superannuation before bankruptcy
Circumstances in which a bankruptcy trustee can set aside contributions made into superannuation before someone is made bankrupt.
Worrells
- Article
COVID-19 and holding DOCAs
Despite changes to the safe harbour defence, directors need to be aware of, & adhere to, their common law & statutory duties.Worrells - Article
ATO garnishee notices: a compelling tool in a tax debt recovery
Outline of how the ATO uses garnishee notices as a compelling debt recovery toolWorrells - Article
The ATOs current debt recovery strategy
The ATO's collectable debt is expected to decline, as it converts to insolvency debt.Worrells - Article
Trust companies and insolvency reform
Recent government reforms failed to implement changes that would impact reduced costs & increased returns to creditors.Worrells - Article
Avoiding those awkward client conversations
Clients should be advised to secure loans made to a company (related party credit loan accounts).Worrells - Article
What is subrogation and when does it occur?
Without a suitable agreement, payment of a debt by a non-guarantor third party gives no automatic right of subrogation.Worrells - Article
A bankrupt cannot be a director... or can they?
Article discusses interesting situation where the bankrupt is a director of a SMSF where the only asset is real property.Worrells - Article
Asking R U OK? in stressed financial times
Beyond Blue has a guide with practical tips to recognise the signs of poor mental health and how to provide support.Worrells - Article
Corporate structures and PPSA defects
It is important to ensure the accuracy of registering security interests for the specific type of business structure.Worrells - Article
Examinations by the Official Receiver - A more cost effective option
A public examination is one of the most powerful investigatory tools available to an insolvency practitioner.Worrells - Article
Personal insolvencies continue to fall
Article explains that personal insolvencies continue to fall and why.Worrells - Article
Shareholder & partnership disputes that lead to insolvency appointments
With a properly drafted shareholders/partnership agreement, many issues in dispute can be sufficiently resolved.Worrells - Article
Key failures of SMEs
Top 3 reasons that struggling SMEs are not succeeding & key takeways that all advisors should give their clients.Worrells - Article
Discharging a mortgage when the mortgagee is deceased and the director imprisoned
Section 588FDA of the Corporations Act provided that it was voidable as an unreasonable director-related transaction.Worrells - Article
A guide to priority payments in a liquidation
Who gets paid and when during liquidation?Worrells - Article
I am a bankrupt, can I have an overseas holiday?
It is a persistent misconception by people contemplating going bankrupt that they will have to surrender their passportWorrells - Article
Is a director automatically liable for their company's debts?
Company debts are not always director's debts.Worrells - Article
Public examinations during COVID-19 lockdown
A public examination is a court-ordered investigation to discover more information about a company's financial affairs.Worrells - Article
Search & seizure warrants: a powerful tool in the liquidators kit bag
Search and seizure warrants are useful tools to strengthen liquidators' abilities to take control of company property.Worrells
