Blog

A collection of news and insights about our firm and developments in the law, finance and insolvency industries

  • When can you replace or remove a voluntary administrator?

    A voluntary administrator is first appointed by the directors of an insolvent company. Creditors may want to replace this voluntary administrator with another insolvency practitioner. The voluntary administrator may be removed or replaced: at first meeting of the creditors by a vote; by resolution under the Insolvency Practice Rules; or by a state Supreme Court […]

    Learn more

  • Garnishee notice ATO

    How do you respond to an ATO garnishee notice?

    Summary: what is a garnishee notice? A garnishee notice is an order issued by the Australian Tax Office (ATO) to a third party who currently holds or may hold funds in future for the debtor to pay an amount related to the debt directly to the ATO, circumventing the debtor. Put simply, the ATO is […]

    Learn more

  • What is the ROCAP and what does it have to do with ‘phoenix activity’?

    When a company goes into insolvent liquidation, the directors are required to complete a Report on Company Activities and Property (ROCAP) which replaces the previous Report as to Affairs (RATA) The ROCAP is more comprehensive than the RATA – amazingly, the RATA was largely unchanged for 100 years The ROCAP contains specific questions to target […]

    Learn more

  • phoenix activity reform

    What phoenix activity reform would look like under a Labor government

    The Australian Labor Party has recently signalled its intention to crack down on illegal phoenix company activity. This often overlooked aspect of the commercial world is actually a huge area of tax evasion, and one that is costing the Australian state billions of dollars of revenue on an annual basis. What are phoenix companies? Before […]

    Learn more

  • How do you pick the right voluntary administrator?

    It is essential that directors pick a voluntary administrator who is hard working, ethical, and experienced. For the voluntary administration to be successful through a compromise, you’ll need a lot of skill and a little luck. The first step before appointing a voluntary administrator is for company directors to define what they want the process […]

    Learn more

  • How do you choose the right liquidator?

    The company liquidation process (a creditor’s voluntary liquidation for insolvent companies) can be a long and winding road for company directors. While directors might get to appoint the liquidator, they don’t owe the directors or owners any legal duties, so it is best to pick an ethical and commercially-minded liquidator. If you pick a “salesman” […]

    Learn more

made by avanavo.com

×