Industry Insight

On 8 July 2024, off the back of the submission process run by the Attorney Generals Department in relation to personal insolvency, which concluded in September 2023, Mark Dreyfus, announced that the Australian Government is set to introduce a series of significant reforms to the nation’s bankruptcy system. The stated

The biggest inclusion in the Federal Government’s 2024 Budget from an insolvency practitioner’s perspective was that recoveries to repay outstanding superannuation is now a consideration when the FEG recovery program is looking to fund liquidators’ recovery actions. The Fair Entitlements Guarantee (“FEG”) Scheme, administered by the Department of Education and

In June 2020, the Australian Government introduced the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (cth). Within it was the introduction of a new regime to Part 9.1A of the Corporations Act 2001 (cth), which requires all company directors or anyone who intends on becoming a director

Provisional liquidation is a mechanism available to creditors or members of a company in Australia which is derived from section 472(2) of the Corporations Act 2001 (Cth) (the Act). An application to appoint a provisional liquidator can be filed any time after the filing of a winding up application and

Bankruptcy is a legal status that can be imposed on an individual who is unable to repay their debts. It is a process that provides relief to insolvent debtors by allowing them to seek protection from their creditors and potentially have their debts discharged. There are two ways in which

The perplexing conundrum of observing insolvency and financial tumult in Australia’s mining sector amidst record highs in mineral prices and employment, invites scrutiny into the undercurrents that drive these seemingly paradoxical scenarios.

As many of you will be aware, on 28 September 2022, the Parliamentary Joint Committee on Corporations and Financial Services began an inquiry into corporate insolvency in Australia and on 12 July 2023, they handed down their report in relation to their findings.

Advisory division will aim to assist government agencies and accountants in lessening the impact of business collapses…

Audited Financials are qualified financial statements (Balance Sheet and Profit & Loss) by an independent qualified auditor that confirms whether the statements accurately reflect a company’s financial performance.