Blog

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

  • How to prepare for a voluntary administration (for SMEs)

    How to prepare for a voluntary administration (for SMEs)

    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 […]

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  • What is the role of solicitors in the restructuring of insolvent SMEs today? (Part 2)

    What is the role of solicitors in the restructuring of insolvent SMEs today?

    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: […]

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  • Is your business insolvent because of COVID-19? What to do next (for SMEs)

    Is your business insolvent because of COVID-19? What to do next (for SMEs)

    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 […]

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  • Hit pause on appointing a voluntary administrator during Covid-19

    Hit pause on appointing a voluntary administrator during COVID-19

    The new Coronavirus Economic Response Package Omnibus Act 2020 (the Coronavirus Economic Response Act) has just come into force. This Act contains a range of new measures to support businesses through the Coronavirus/COVID-19 pandemic and its consequences. In this article, we look at two key changes that will help distressed companies avoid voluntary administration or […]

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  • When is a construction company insolvent?

    When is a construction company insolvent?

    Summary The construction industry in Australia has a high rate of company liquidations (about a quarter of all company liquidations); Liquidations in the construction industry have a substantial impact on industry participants themselves (developers, contractors and sub-contractors), as well as the broader economy; In determining solvency/insolvency in the construction industry, the focus is on cash […]

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