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
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
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
