Blog

Summary Voluntary administration rarely results in a good outcome for the business –or its creditors. The end result is usually the winding up of the business as a going concern, and ‘next-to-nada’ for the creditors. We have already discussed How to prepare for a voluntary administration, and here we set out the steps you need […]

28 April 2020 Summary In response to anticipated temporary insolvency of small-to-medium sized enterprises, the Retail and Other Commercial Leases (COVID-19) Regulation 2020 was introduced in NSW on 24 April 2020 The regulations are set to be in place for six months commencing on 24 April 2020 It covers leases governed by the Retail Leases […]

Summary Australian small-to-medium businesses (SMEs) have been put into a debt hibernation cycle by the government (via the COVID-19 safe harbour). The announcement that Virgin Australia (airline) has gone into voluntary administration is raising the question for many directors: Will I have to go into voluntary administration once the COVID-19 safe harbour ends? And how […]

The COVID-19 economic meltdown has already led to some quick changes to Australian bankruptcy and insolvency law. However, as the basic tools for dealing with insolvency remain the same, it is worth looking at the general regulatory landscape and asking, what is the role of lawyers? And what should that role be? Estimated reading time: […]

Summary During the COVID-19 economic crisis, small-to-medium sized businesses (SMEs – businesses with less than 200 employees) need to move with the tide of the economy instead of resisting it. It is likely that many businesses will do the opposite – this crisis may be a time when the oaks are blown over while the […]

Summary Employers do have the right to stand down employees during a period in which the employee cannot be usefully employed. This right is conferred by section 524 of the Fair Work Act 2009 (Cth). One of the three circumstances that forms the basis of this right is a stoppage of work for any cause […]