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

  • Liquidations Produce No Return for Creditors in Australia

    Liquidations Produce No Return for Creditors in Australia

    It is common for creditors to think that liquidation is a useful mechanism for getting their due from a debtor company. The evidence does not support this After winding up, and the payment of liquidator remuneration and expenses, usually there are zero cents left for the remaining unsecured creditors If a liquidation has been pursued, […]

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  • How to negotiate an ATO payment plan (small businesses)

    How to negotiate an ATO payment plan (small businesses)

    ATO payment plan – summary An ATO payment plan is a tailored option for the repayment of an individual or business tax debt It allows the debtor to pay off their tax debt and interest in a time frame and with a regularity that suits their financial situation A payment plan is often appropriate in […]

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  • Sewell & Kettle’s 2nd Annual World’s Biggest Dinner for Cure Cancer

    On Friday 18 October 2019 our firm hosted a charity fundraiser for Cure Cancer Australia at Sokyo Restaurant at the Star. The cost of the event was entirely subsidised by the firm, so all monies raised by donations and our charity auction were donated directly to Cure Cancer Australia. Cure Cancer Australia work to support […]

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  • New Creditor Powers to Request Information from Liquidators

    Summary Creditors are usually frustrated with the liquidation process for a range of reasons, including inadequate disclosures by liquidators of key information Prior to 2016, creditors were limited in their ability to hold liquidators to account via reporting and information gathering A new insolvency framework introduced in 2016 ensures that creditors have a right to […]

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  • phoenix activity accounting

    Is phoenix activity accounting fraud?

    Summary Accounting fraud involves deliberate deceit that results in a misleading representation or misstatement in financial accounts Phoenix activity, of itself, involves non-payment of debt but not necessarily accounting fraud Company directors should ensure that accurate financial statements and tax returns are lodged, even if engaging in phoenix activity It is possible for directors and […]

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