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With over 100 years combined specialist experience in financial advisory, restructuring and insolvency, WCT Advisory truly value our clients and are dedicated to creating practical and specialised solutions to their problems.
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Understanding Voidable Transactions in Liquidation
The Corporations Act 2001 plays a crucial role in regulating business activity in Australia. One of its key functions is to prevent fraudulent or unfair business practices …
Recap of WCT Advisory Services
WCT Advisory is a specialist financial advisory firm primarily concentrating on advising company directors and business owners when facing financial distress, as well as undertaking formal insolvency appointments …
Liquidators and Liquidations
This is the eighth in our series of articles at informing directors of their duties and options for small to medium enterprises if faced with insolvency. This particular article will deal with liquidations and the role of a liquidator.
A liquidator can be appointed by either a creditor (through a Court application) or voluntarily by members of the company. A liquidation can be either solvent (i.e. all liabilities are paid and there is a surplus for shareholders) or insolvent (i.e. when there are insufficient assets to pay all liabilities).
The Elephant in the Room (Pre-Packs)
This is the sixth article in a series of articles aimed at informing directors of their duties and options for small to medium enterprises if faced with insolvency or financial distress. We now look at one of the more controversial mechanisms to restructure a business, being what is commonly referred to as a pre-pack transaction.