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PPSR – Grace period ends on 31 January 2014

General The Personal Property Securities Register (PPSR) is an online register introduced on 30 January 2012 that protects businesses when buying, selling or leasing out property including goods,...

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Corporate insolvency, directors and their consultants

When a company is facing financial difficulties it is not unusual for directors, anxious about their company’s financial predicament, to start to carry out their powers in a way driven by personal...

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Cost reduction: without fear or favour

The process of reducing business excess can be a purifying journey. Envisage reflecting on cost reduction endeavours over the last few years with no remorse. The secret is to frequently and...

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Warning Signs of Insolvency

It is common knowledge that businesses are currently facing some of the most challenging conditions in recent years. There are a number of warning signs of insolvency that, if detected early by owners,...

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New Director Penalty Notice regime commenced on 30 June 2012

On 30 June 2012, changes to the Director Penalty Notice Regime came into effect, causing major changes to the options available to directors to avoid personally liability for unremitted PAYG and SGC.

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Super debts and the new director penalty laws

Pursuant to the new laws, a director’s personal liability for superannuation and PAYG withholding debts will not be absolved by initiating a formal insolvency appointment  

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PPSA – Register or risk the consequences!

Overview It took close to 18 months before Australia’s first priority dispute was decided in court as a result of the Personal Property Securities Act (PPSA). In the case in question, the owner of...

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Cash is king: The Significance of Working Capital Management

Piloting through the recent stormy economic weather has put pressures on numerous businesses as well as their supply chains to maximise liquidity and unleash cash. Consequently, many businesses have...

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Proposed insolvency reforms indicate helpful news for directors and the economy

In welcome news for directors and the economy, the Federal Government has announced draft legislation for insolvency law reform that incorporates a proposal to introduce a safe harbour provision.

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