Brace yourselves… ‘Director Identification Numbers’ are coming!

On 12 June 2020, the Federal Parliament passed the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019, which establishes a lifetime registration system for company directors with the aim of combating i...

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All Gunns blazing – Federal Court affirms peak indebtedness rule post-Timberworld

Introduction On 27 May 2020, the Federal Court of Australia handed down its judgments in three separate unfair preference proceedings instituted by the liquidators of Gunns Limited (in liq)(receivers and managers appointed)("Gunn...

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Temporary changes to insolvency laws amid the COVID-19 pandemic

On Sunday 22 March 2020, the Australian Federal Government announced that it will make temporary amendments to insolvency and corporation laws in light of the economic challenges otherwise profitable and viable businesses are faci...

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My company has been wound up! What are my options?

There is a common misunderstanding that if an order is made winding-up a company then this order is set in stone.  This, however, is not the case. The corporations law provides a means to wind back the clock, which essentially...

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Is going Bankrupt as Bad as it Sounds? The Consequences of Bankruptcy.

The effects of bankruptcy can be far-reaching, perhaps in ways you hadn't considered affecting more than just you personally. If you are subject to bankruptcy proceedings or are considering filing for bankruptcy voluntarily, you ...

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That Company owes me Money! A Guide to issuing a Statutory Demand.

If a company owes you money and is refusing to pay, there are several things you can do to try and recover your money: one avenue is issuing a statutory demand. What is a statutory demand? A statutory demand is a legal document se...

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