News & Updates

• Small Business Restructuring Rommel Alfonso 14-04-2023

  Small Business Restructuring (SBR) offer several major advantages for small businesses over traditional forms of insolvency by allowing directors to retain control of their business whilst a restructuring plan is formulated and removing the need for creditors meetings and lengthy reports to creditors. Find out more. Read More

• Illegal Phoenixing and Creditor-Defeating Disposition: The First Court Ruling Rommel Alfonso 01-09-2022

  In May 2022, the first Court ruling was made on the new anti-phoenixing provisions included in the Corporations Act 2001 and it has provided interesting reading for those advising clients that are in financial difficulty, or whose clients may have customers experiencing financial difficulty! Read More

• ATO and DPNs – Beware! Peter Hillig 27-05-2022

  The Australian Tax Office is flagging an important change in its approach to debt collection and insolvency, with a return to full-time status for its collections department and a renewed focus on the recovery of debts owing. Read More

• Director Identification Number Regime Now in Place Rommel Alfonso 02-12-2021

  The Director Identification regime is now in place and all Directors, both existing and new appointments, will need to apply for a unique identification number. Read More

• Severe Consequences for 'Shady' Pre-Insolvency Advice Peter Hillig 02-12-2021

  Pre-insolvency advice is firmly in the spotlight following a recent Court case involving fraudulent asset stripping before a liquidation... Read More

• Director Resignation Changes Peter Hillig 26-10-2021

  Effective 18 February 2021, if a person stops being a director of a company, they or the company, must notify ASIC within 28 days. Read More

• ATO - Change in Debt Collection Approach - Directors Beware! Peter Hillig 26-10-2021

  As the Government shifts its COVID 19 response from cash injection to cash recovery, we were interested to listen to a presentation from the Australian Taxation Office (“ATO”) on their debt collection strategy as we navigate our way through the pandemic. Read More

• Small Business Restructuring Reform 03-02-2021

  On 1 January 2021 some of the most significant changes in insolvency law in three decades were introduced following amendments to the Corporations Act. Read More

• Alert to Advisors - Potential Personal Liability Mike Smith 12-11-2020

  The Treasury Laws Amendment (Combating Illegal Phoenxing) Bill 2019 (“the Bill”), received Royal Assent on 17 February 2020. Read More

• Covid-19 Safe Harbour Protection for Directors Rommel Alfonso 04-09-2020

  Directors are generally personally liable for debts a company has incurred whilst: Read More