What is Safe Harbour Protection?

Safe Harbour legislation is a proposed insolvency Law Reform. Under the proposed Safe Harbour reforms, directors will not be personally liable for debts incurred after the date of insolvency (S588G Insolvent Trading) if they can show they were incurred in connection...

Insolvency – what is it and why care

Insolvency is an important term in both the business and consumer world. The usual definition of insolvency is that a person or company is insolvent if it is unable to pay its debts as and when they fall due. That is a simple definition but establishing whether a...

Restructuring – what is it?

Corporate Restructuring is the process whereby an underperforming or insolvent company is brought back to financial health. It is sometimes referred to as Debt Restructuring or a Workout. Restructuring a company or business can involve a wide variety of measures...

Definitions – common terms in insolvency

Superannuation Guarantee Charge (SGC) Superannuation Guarantee Charge is the liability that arises with the ATO once the company has failed to meet its’ Superannuation Guarantee obligation to its’ employees either in full or in part. Superannuation Guarantee Charge is...

Insolvency Law Reform

Details of recent changes There have been some high profile changes to Insolvency Law in 2012 that advisers, and company directors should be aware of. The most notable change expands the reach of the ATO’s Director Penalty Regime CALL US NOW FOR CONFIDENTIAL, FREE...