Andrew Weatherley spoke on a recent podcast episode of Business Built Freedom, where he had a great chat with Joshua Lewis (Managing Director of Dorks Delivered) on business restructuring, cash flow, and working capital tips …

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).

This is the seventh article in a series of articles aimed at informing directors of their duties, and the options available for small to medium enterprises (SME) if faced with insolvency or financial distress.

As a result of the COVID-19 pandemic and associated economic downturn, the Australian Government made changes to the insolvency framework with the aim of helping more small businesses restructure and survive that difficult period. The Small Business Restructuring (SBR) process is one of two new formal insolvency appointments introduced by the Federal Government in 2021. With the help of a registered liquidator (called a small business restructuring practitioner – SBRP), a company can put forward a plan to its creditors to restructure its existing debts, while allowing the directors to remain in control of the business, property, and affairs of the company during the restructuring period.

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.

This is the fifth 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 around the Director’s Penalty Notice, we now look at one of the distinct options to save a business, being a Voluntary Administration.

Article published in the Courier Mail Thursday, 15th September 2022.

WCT Advisory is delighted to announce the opening of their second office in Adelaide, South Australia with Virginia Lao to oversee operations.

Our restructuring and advisory team look forward the opportunity to now bring our expertise to the South Australian and Northern Territory markets.

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.

This is the third in a series of articles aimed at informing directors of their duties and options for small to medium enterprises if faced with insolvency.

This article touches on the commercial risks faced by the business itself, which will drive the turnaround plan. If a business is struggling and potentially insolvent, that is unable to pay its debts when they fall due, there are several risks that directors need to be prepared for.

This is the second in a series of articles aimed at informing directors of their duties and options SMEs if faced with insolvency. We now look at one of the more prominent duties, being insolvent trading and one of the options available to manage that risk.

This is the first in a series of articles aimed at informing directors of their duties and options for small to medium enterprises if faced with insolvency.

Unfortunately, the prime cause of business failure is poor management. Fortunately, however, for those business owners willing to be proactive and seek help with understanding the root cause of a particular challenged, help is literally only a phone call away.

After pausing its pursuit of unpaid taxes while jurisdictions were coping with COVID-19 outbreaks and lock downs, the ATO has started to chase debts again. So far, the ATO has targeted New South Wales, Victoria and the ACT.