Category Archives: News Articles

The landscape of insolvency has changed in the last few years. The COVID epidemic has resulted in a phenomenon colloquially referred to as ‘zombie companies’.  These insolvent companies have been unable to pay their debts, resulting in their directors abandoning them, and because of various moratoriums on-court action to recover debts during 2020, they have […]

A director’s personal liability for debts incurred whilst a company is insolvent causes fear and concern in directors of financially distressed companies. The safe harbour provisions of the Corporations Act were introduced in 2017. They were intended to operate as a carve-out to the insolvent trading prohibition, to encourage directors to be innovative and entrepreneurial […]

Business owners are constantly looking for ways to keep their business performing well.  This becomes more challenging when they are experiencing financial difficulty. We often hear that “companies should look at restructuring” in order to turn a financially distressed struggling business into a successful profitable business. However, this is easier said than done. Given our […]

A director of a company is responsible for carrying out certain necessary activities, including statutory duties, preparation of accounts and reports etc.  Failing to do so may result in the director being held personally responsible and being issued with a Director Penalty Notice (DPN). It is now even easier for directors to receive one.  From […]

There are unfortunate instances in life when an individual may become bankrupt.  In fact, in Australia, there were 6,792 bankruptcies in 2020-21*.  But it’s not all gloom and doom.  Often after careful consideration of the situation, bankruptcy may be considered not only the right solution, but the best solution. However, personal bankruptcy does not need […]

We’ve all heard the expression “cash is king“. In business, this refers to ensuring that money flowing in must always exceed money flowing out.  Given the recent issues with COVID, most SMEs are experiencing extremely problematic cash flow.  Many have already used up their cash reserves and are experiencing difficulty meeting their liabilities. It is […]

As a good friend of mine used to say, ‘there is a solution to every problem”. Many businesses have been repeatedly challenged over the last few years.  Some may be irretrievably beyond rescue, whilst others may be able to be salvaged. Is there value in the business? To understand the future of a business, business […]

There are approximately 2.3 million small to medium businesses (SME) in Australia.  SMEs are considered to be businesses with 19 or fewer employees and represent the biggest employment sector in the Australian economy.  Approximately 1.2 million SMEs are operated through a company structure. In a trend that has lasted for more than a decade, between […]

As Australia emerges from the pandemic, businesses and individuals can once again hope to enjoy the prosperity and open economy of the pre-COVID world. However, the greatest challenges faced by businesses and individuals may still be to come in the post-lockdown period with the rolling back of most government support. This article is prepared to […]

Restrictions have eased significantly in South East Australia, after going in and out of lockdown this past year, but there are still a number of challenges that need to be overcome before businesses can get back to growth. In last week’s episode of Lunch Money, Nicholas Samios was joined by our very own Mark Robinson […]