Feb 2022 Newsletter

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LOOK BOTH WAYS. SME DIRECTORS NEED TO NOTE STATUTORY AND GENERAL LAW DUTIES TO AVOID ENFORCEMENTS ISSUES.

by Shaw Gidley02.03.22

As a director of a small to medium enterprise (SME) you may be keeping your eye more closely on your duties under the Corporations Act 2001 (Cth) (the Act) in the current trading environment.
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 154 Shaw Gidley 220421 Hi Res

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2021 IN REVIEW QUIET TIMES FOR CORPORATE UNDERTAKERS

by Jeff Shute17.12.21

Government pandemic support measures resulted in 2021 being a quiet year for insolvency and turnaround professionals.
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 Sam August - Family Home in Bankruptcy

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WHAT 'EVIDENCE' CAN SAVE THE FAMILY HOME IN BANKRUPTCY?

by Shaw Gidley05.10.21

Protecting the family home is often front-of-mind when one partner in a relationship undertakes some form of financial risk.
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 Sam 06. July - GSTs many moving parts leave Administrators out of pocket

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GST’s MANY MOVING PARTS LEAVE ADMINISTRATORS OUT OF POCKET

by Shaw Gidley29.07.21

The issues of particular relevance in this case are the mismatch between accounting methods between the Company and the Administrators
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 Sam 05. May - Unfair Preferences and the End of the Peak Indebtedness Rule

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UNFAIR PREFERENCES AND THE END OF THE PEAK INDEBTEDNESS RULE

by James Shaw08.06.21

The rule applies during the relation-back period where there is preference payment, and where the creditor and debtor have a running balance account.
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HOW TO IMPROVE YOUR CREDIT SCORE AFTER BANKRUPTCY?

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HOW TO IMPROVE YOUR CREDIT SCORE AFTER BANKRUPTCY?

by Jeff Shute02.06.21

Although it can initially feel overwhelming to be faced with bankruptcy, it’s not something you need to deal with for the rest of your life.
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 Financial advisor

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IS IT WORTH PAYING FOR A FINANCIAL ADVISOR?

by Scott Newton22.04.21

Financial advisors can be a pathway to escaping a debt crunch with solutions that provide the best outcomes for your specific situation. Getting out of debt is a lot more than ‘earn more, spend less'.
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 DEBT

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HOW DO I GET OUT OF DEBT WHEN I HAVE NO MONEY?

by Scott Newton20.04.21

It's unrealistic to expect that debt will never occur, and the difficulty to pay debt will never follow. In fact, we need to opt into a debt agreement of some description to populate our credit rating
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DIRECTOR RESIGNATIONS

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DIRECTOR RESIGNATIONS: NEW LAWS APPLY FROM 18 FEBRUARY 2021

by Paul Gidley15.03.21

The reforms prohibit company directors from improperly backdating their resignation or leaving a company with no directors
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INSOLVENCY AND THE EFFICIENT USE OF SCARCE RESOURCES

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INSOLVENCY AND THE EFFICIENT USE OF SCARCE RESOURCES

by Paul Gidley08.03.21

The reality is that insolvency law and its proper administration are fundamental to ensuring our economy has accountability, along with an efficient, reliable, competitive and transparent marketplace.
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WHAT HAPPENS TO MY COMPANY IF I CANNOT PAY FOR A LIQUIDATION?

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WHAT HAPPENS TO MY COMPANY IF I CANNOT PAY FOR A LIQUIDATION?

by Luka Pilipovic03.03.21

Even if a company has been deregistered, directors should consider seeking appropriate professional advice to identify any potential future personal exposure.
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WHAT SHOULDN'T I DO BEFORE FILING BANKRUPTCY?

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WHAT SHOULDN'T I DO BEFORE FILING BANKRUPTCY?

by Paul Gidley17.02.21

Don’t get through bankruptcy alone. Applying can be a daunting experience, and you don’t want to accidentally do, or not do, something that will affect your application or cause you financial or legal
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