Technical Insight

Since the safe harbour legislation was introduced in 2017, there have been no court cases dealing with whether a safe harbour process has been properly conducted or not. This can make it difficult for businesses and theirs advisers to know whether they are properly protecting a director from insolvent trading

We previously talked about Bankruptcy and Personal Insolvency Agreements. Depending on the circumstances, there are options available under the Bankruptcy Act that are more applicable to you and your individual financial position than you may realise.

A Members’ Voluntary Liquidation (MVL) is a formal process of winding up the affairs of a solvent company. The members of the company, via a special resolution, decide to wind up the company…

As we head into the festive season, we’ve taken a moment to reflect on the year that was and capture our thoughts on what 2024 is likely to bring for Australian businesses and the insolvency sector.

On 22 September 2023, the Attorney-General announced the Australian Government’s response to the Final Report of the 2015 statutory review of the Personal Property Securities Act 2009 (the Whittaker Review).

Building on our previous insights shared by John Laird, Principal Government Advisory, on June 26, 2023, this article provides a critical update and further elaboration on the Australian Taxation Office (ATO) lodgement amnesty program.

With a steep rise in interest rates, a cost-of-living crisis, escalating tensions abroad, and having just experienced a pandemic, many small businesses have done it tough in recent times.

A personal insolvency agreement (“PIA”), also known as a Part X agreement, is a formal arrangement that an insolvent debtor can propose to their creditors under Part X of the Bankruptcy Act 1966 (Cth) (“the Act”). The agreement provides an alternative to bankruptcy.

In our article Insolvency law reform – has the time come for seismic change? released on 24 July 2023, I provided a summary of the findings from the report handed down on 12 July 2023…

As part of the 2020 Budget Digital Business Plan, the Federal government at the time announced the full implementation of the Modernising Business Registers (MBR) Program. The Legislation that enabled the MBR to proceed received Royal Assent on 22 June 2020.