Business, Restructuring & Insolvency Insights
Practical insights, analysis and updates from WCT Advisory's experienced financial advisory, restructuring and insolvency specialists.
Explore our latest thinking on business financial distress, restructuring, insolvency, corporate finance, taxation, business valuations, director obligations and emerging issues affecting Australian businesses.
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Anti Phoenix Law Passes Test
Article published in the Courier Mail Thursday, 15th September 2022.
Director Penalty Notices and SMEs
This is the fourth in a series of articles aimed at informing directors of their duties and options for small to medium enterprises if faced with insolvency.
Following on from our previous article, we will now look at one of the more prominent risks of, firstly not reporting activity and superannuation guarantee when due, and secondly not paying debts owed to the Australian Taxation Office.
Directors need to keep a sharp eye out for Director Penalty Notices from the ATO.
Amendments to the Legal Professions Act 2007 - External Administration
On 25 May 2020, the Justice and Other Legislation Amendment Act 2020 (Qld) came into force. It included amendments to the Legal Profession Act 2007 (Qld) (the Act) which broadened the meaning of suitability matter and a show cause event to include where a person is a director of a company (whether related to law practice or not), which becomes insolvent.