by John Kukulovski | Feb 16, 2024 | Business, Insolvency
In a recent legal ruling, the Australian Federal Court has clarified the limitations faced by directors of insolvent companies in challenging the company’s PAYG (Pay As You Go) liability. The case, involving RIC Admin Pty Ltd (Company), centred on whether a...
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 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 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...
by Liam Bellamy | Mar 19, 2023 | Business, Insolvency
These past months of early 2023 have seen two key high court decisions passed down with significant ramifications on the insolvency and legal landscape in Australia. Metal Manufactures Pty Limited v Morton (2023) HCA 1 (“Metal Manufactures”) and Bryant v Badenoch...