by Liam Bellamy | Oct 14, 2023 | Business, Insolvency
Section 203AB of the Corporations Act 2001 (Cth) was introduced in 2020 by the Australian Federal Government to combat “phoenixing,” a practice where companies evade debt by liquidation or abandonment. This section renders a director’s resignation...
by John Kukulovski | Jun 7, 2023 | Business, Finance, Recovery, Tax & Accounting
As insolvency professionals, we are often asked by company directors or advisors why an insolvent company cannot simply be walked away from and left for ASIC to deregister. This is a practice that, although frowned upon by regulatory bodies, can and has been...
by Liam Bellamy | May 23, 2023 | Business, Insolvency, Recovery, Restructuring, Tax & Accounting
As trusted insolvency professionals dedicated to assisting company directors in Australia, we understand the significance of the end of the financial year (EOFY) for businesses facing financial challenges. It’s a critical time that demands careful planning and...
by John Kukulovski | Apr 26, 2023 | Business, Insolvency, Tax & Accounting
If you’re the director of an Australian company or are planning on becoming a company director, you should have heard of a Director Identification Number (DIN). A DIN, sometimes referred to as a Director ID is a unique identifier assigned by the Australian Securities...
by John Kukulovski | Apr 12, 2023 | Business, Insolvency, Recovery, Restructuring, Tax & Accounting
When a company in Australia becomes insolvent, one of the key decisions that the director(s) must make is the choice of a liquidator. A liquidator is a licensed professional who is responsible for winding up the affairs of the company and distributing its assets to...