Industry Insight

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

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

In May this year I posed the question as to whether the often spoken of insolvency tsunami was finally upon us and whilst that hasn t eventuated formal appointment numbers have continued to rise consistently over the period since and it appears as though this trend will remain through the

On 28 September 2022 the Parliamentary Joint Committee on Corporations and Financial Services began another inquiry into corporate insolvency in Australia

In this episode we are joined by Gary Busby and Bronwyn Dumont from the Australian Taxation Office to provide Insights into the Collections Team In the market s insolvency and restructuring situations the collections team is essential