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

  • Nikki Kinloch and Ben Sewell

    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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  • liquidator report

    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 a deliberate deceit that results in a misleading representation or misstatement in financial accounts. Phoenix activity involves non-payment of debt but not necessarily accounting fraud. Creditor-defeating dispositions have been introduced to combat phoenix activity. A creditor-defeating disposition occurs when a company transfers property for less than its reasonable market value before […]

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  • How do liquidators charge fees?

    How do liquidators charge fees?

    Summary Excessive charging by liquidators puts the claims of unsecured creditors at risk; Remuneration must be ‘reasonable’ and take into account a range of factors; Excessive charging can be challenged by creditors, but the best option for creditors is to take care in appointing responsible liquidators and thoroughly examine the proposed costs of a liquidator […]

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  • Voluntary liquidators no longer required to hold first meetings

    Voluntary liquidators no longer required to hold first meetings

    Summary Formerly, it was a requirement in a Voluntary Members Liquidation (MVL) that, if the directors of the company were not prepared to make a declaration of solvency, a first meeting of the creditors had to be called by the liquidator. At this meeting, the liquidator could be replaced. As a result of changes to […]

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