Risk Mitigation usually involves a restructuring process of one sort or another. Key to our approach is keeping directors informed about costs and benefits. We understand that restructuring or ceasing a business can be daunting.
As with many elements of business, restructuring and mitigating risk involves choices; understanding the cost of doing or not doing one act in favour of another. The terminology in this highly specialised area can be confusing:
Our Restructuring Terms explain some of the technical terms you’re likely to come across.
In our Vodcast -hosted by James Flaherty – Ginette Muller and Chartered Accountant Chris Baskerville explain the intricacies of Safe Solvency Advice. The options for business owners are discussed in detail, including:
• Small Business Restructuring • Safe Harbour • Taxation • Insolvent Trading • Liquidation • The realities, regulations and consequences • Success rates and Ginette’s positive approach, giving your business every chance of success.
Protection given to Directors when there is a possibility of financial distress looming so as not to trigger the unnecessary appointment of an insolvency practitioner. Can give the directors the green light to continue trading.
Formal or informal processes where a Company maximises its chances of continuing in existence; or if that isn’t possible, restructuring can involve solutions that are better for the company’s stakeholders than liquidation. See small business restructuring eligibility.
Not every director is across their responsibilities when it comes to the Corporations Act. An extra set of eyes is helpful, especially when dealing with insolvency practitioners who put other stakeholder interests ahead of directors.
There are various ways to cease operations and careful consideration is necessary depending on the underlying entity structure.
Whether you need to negotiate a repayment arrangement or find a loan to repay the ATO or any creditor; understanding available alternatives and selecting the best option for you is crucial. Over extending family finances needs to be carefully considered. Knowing the tipping point matters.
Capitalisation of your company's operations is crucial. Finding finance can be difficult. Consider all options including private finance.
Critical Industry Updates
Court actions filed by the Australian Taxation Office and the big four banks are on the rise, with many commentators suggesting a wave of insolvencies
A property developer in Canberra (PKNH) has been disqualified by ASIC from holding positions in corporate management for two years due to his involvement in
ASIC has imposed a four-year disqualification on AM and his son, DLM, both residing in Martinsville, NSW, barring them from managing corporations. This action follows
A company director, GC, has been convicted of five counts of falsifying company books under s1307(1) of the Corporations Act 2001. GC, the sole director
ASIC disqualified AB, from managing corporations for a period of three and a half years due to her involvement in the following three companies: Rococo
A former company director, GD, has been sentenced to a three-year good behaviour bond and a $10,000 recognizance. He pleaded guilty to a charge of
