by John Kukulovski | May 19, 2022 | Business, COVID-19, Finance, Insolvency
What do you do if your builder goes bust? A recent string of financial troubles in large construction companies have shown that the building industry is anything but bulletproof. ProBuild and Condev have both become insolvent, and recent crisis talks between officials...
by John Kukulovski | Mar 16, 2022 | Finance, Insolvency, Recovery
A personal guarantee is a written contract which sets out the acceptance of responsibility, by the guarantor, to satisfy their obligations to a third party in the case of a default. Often personal guarantees are accepted by company directors to acquire funding for...
by John Kukulovski | Feb 27, 2022 | Business, Finance, Insolvency, Main news
Construction giant ProBuild has recently appointed Deloitte as administrator after it’s parent company WBHO South Africa announced it would cease support for its ailing subsidiary. This has left many tradesmen and subcontractors owed large sums of money and in the...
by John Kukulovski | Feb 10, 2022 | Business, COVID-19, Insolvency
To say 2021 was a mixed basket for us all would be a colossal understatement. With insolvency protections and business lifelines like Jobkeeper being pulled back earlier in the year, 2021 was the year many predicted as the start of mass winding ups post covid-19....
by John Kukulovski | Jul 3, 2021 | Business, Insolvency, Recovery, Restructuring
Combatting the Illegal Phoenix On 18 February 2021, reforms to the Corporations Act came into effect that dealt with the timing of Director resignations. These reforms were aimed at preventing phoenix activity by prohibiting directors from improperly backdating their...
