Article
Jobkeeper overpayments and the ATO
Recently an ATO JobKeeper overpayment article was released to give guidance as to how the ATO views a recovery process.
Worrells
- Article
FEG rejects employee long service claims—advisors take note
A sale contract should specifically state that the buyer assumes no responsibility for legal claims of previous employees.Worrells - Article
Administrator appointment overrides an application to appoint a liquidator
This WA decision was a fine display of pragmatism and a reminder of the voluntary administration regime's effectiveness.Worrells - Article
Debtor-in-possession vs creditor-in-possession insolvency models
The proposed small business restructure moves from a 'creditor-in-possession' to a 'debtor-in-possession' style model.Worrells - Article
Discharge from bankruptcy is not always the end - for real property
A bankrupt's property vests in (belongs to) the bankruptcy trustee, until the bankruptcy administration is finalised.Worrells - Article
Is social stigma towards bankruptcy and liquidation useful?
The origins and revolutions of bankruptcy, and why strong insolvency laws are crucial to a strong and healthy economy.Worrells - Article
Royal assent for ATO to disclose business tax debt information
The Australian Taxation Office can now disclose business tax debt information to registered credit reporting bureaus.Worrells - Article
Caravan manufacturer and director fined for failure to supply goods
Case shows that creditors should not have to suffer a reduced dividend due to illegal action by a company or individual.Worrells - Article
How small business restructuring (SBR) is helping SME businesses
An SBR is a debt restructuring tool for companies - or corporate trustees - with insolvency concerns.Worrells - Article
Liquidation brings new sporting clubs initiative
The CQ Leagues Club reopens - with new owners, new community initiative, and new lease on life as the Rocky Sports Club.Worrells - Article
Using a section 73 proposal to annul a bankruptcy
Bankrupts can annul their bankruptcy by a section 73 proposal to creditors under section 74 of the Bankruptcy Act.Worrells - Article
What to expect in a first meeting with an insolvency practitioner?
The primary aim of these meetings to inform people about insolvency law and what it means in this specific situation.Worrells - Article
Personal insolvencies are on the rise
Discusses the key consequences of bankruptcy.Worrells - Article
Making the right decisions when rescuing a business
Phoenix activity can be legal when it arises from a genuine business failure or is part of a legitimate business rescue.Worrells - Article
No insolvency tsunami in sight
The predicted uptick in insolvencies has not played out. Corporate insolvency, 2021 so far & what is next?Worrells - Article
When COVID-19 and Christmas trades collide
Planning and budgeting are essential to determine how much cash is needed for a profitable business this year and beyond.Worrells - Article
Navigating a bankrupt's income contributions: post-discharge options for enforcing collection
These contributions are portions of a bankrupt's income that exceed the AFSA statutory threshold.Worrells - Article
What happens to my builder licence in Queensland if an insolvency event occurs?
How QBCC Rules aim to reduce financial failure in the Building and Construction Industry.Worrells - Article
Reviewing business operations & costing models
The businesses improved profits by developing models which eliminated unprofitable work and reduced overhead expenses.Worrells - Article
What corporate insolvency options are available for your clients in 2021?
Three voluntary processes to deal with financial troubles – informal arrangements, formal arrangements & liquidation.Worrells
