A company that should consider a Voluntary Administration is one that is insolvent and needs a deal with creditors in a formal way. A Voluntary Administrator is the person appointed by the directors and must be a Registered Liquidator who can assess all the options available, and recommend the best outcome for the company and […]
There be alternatives. Once you have been declared bankrupt you give up control of your finances and assets to a Trustee in exchange for protection from legal action being taken against. Depending on your financial situation, there may be alternatives to bankruptcy such as formal arrangements. Bankruptcy has consequences which you should know about, as […]
“Be aware of unsolicited and unqualified so called Business Advisers” Providing good business advice is a highly specialised area that requires experience, skill and judgement. Too often, the wrong advice is provided by ‘a friend of a friend’ or a so called “mate” often seeking a personal benefit. They are unqualified people, posing as ’solution […]
There are two types of mediation available under Farm Debt Mediation Act 1994 (NSW) (“the Act”). The first is creditor initiated mediation, which results from a creditor issuing a notice under the Act. The second type of mediation is farmer-initiated mediation. This is mediation where a farmer, rather than the creditor, takes the initiative to […]
It is not a good idea to hold off taking action to redress an insolvency. It is all very well that, if worst comes to worst, the business can place a company into administration or a sole trader or partnership under Part X of the Bankruptcy Act but delay brings with it a set of […]
Australian Privacy Law Changes in 2014 On 12 March 2014 there will be some changes to the way that agencies and organisations can collect and deal with personal information. Thirteen ‘Australian Privacy Principles’ will replace the National Privacy Principles and Information Privacy Principles in the current legislation. The Australian Privacy Principles (APPs) will apply to […]
