Director Identification Numbers – important dates

Statutory demands are serious documents and should never be ignored.
4 April, 2022

Disputes between directors and shareholders and the importance of taking proactive steps early

We are regularly engaged to assist directors and shareholders who are engaged in disputes, often where there is a 50/50 deadlock, as the interests in the business are equally owned (whether as shareholders or beneficiaries of a trust). Often the...
25 March, 2022

Changes to Director Penalty Notices do not allow payment arrangements

After putting collections on hold during the depths of the COVID-19 pandemic, the Australian Taxation Office (ATO) has returned to recovering debts, including issuing Director Penalty Notices (DPN’s). However, in a recent change enacted by the ATO, directors are no...
21 March, 2022

Proving solvency after a company has failed to comply with a statutory demand

Statutory demands are serious documents and should never be ignored.
9 March, 2022

First meeting of creditors in an administration and its importance

The first meeting of creditors in an administration, although procedural, is still important. This was highlighted in the recent case of Bluechain Pty Ltd (No 2) [2021] VSC 260. Facts The Court ordered that provisional liquidators be appointed to the...
26 July, 2021

Extension of time for liquidator to bring proceedings due to COVID-19

In a recent Federal Court case[1] the Court had to consider whether a liquidator was entitled to an extension of time to bring proceedings pursuant to section 588FF(1) of the Corporations Act due to COVID-19. Facts  The liquidator had public...
19 July, 2021

Where are all the insolvencies? An analysis of the figures

In normal circumstances each year there are thousands of companies which end up (voluntarily or otherwise) in some form of external administration. In the middle of a pandemic, you would expect that this figure would increase. Contrary to this however,...
23 February, 2021

Demand from a liquidator for an uncommercial transaction

It is not uncommon for businesses to receive a demand from a liquidator claiming they have benefited from an uncommercial transaction however they should not be taken lightly. Recipients should immediately seek specialist legal advice as there can be serious,...
17 February, 2021

Play centre wound up on just and equitable grounds over safety and management concerns

In a case recently handed down[1] the Court wound up a company on “just and equitable” grounds. A Court can wind up a company for reasons other than it being insolvent if there are compelling reasons to do so. In...
9 February, 2021