In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.

What is a Phoenix Company?

A phoenix company is when the company director of a failed company closes down that company and then continues to trade using the same or a similar name under a newly incorporate company and also transfers some or all its assets for no consideration (or insufficient consideration) to the new company. This new company is referred to as a Phoenix Company. What this does is leave all the unpaid debts in the old company, meaning that suppliers and creditors will


Extended liability for Directors’ superannuation reporting obligations (DPNs)

On the 1st of March 2019, the Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 received Royal Assent. On the 1st of April 2019, this Bill came into effect, which changed directors’ superannuation reporting obligations. If you are a company director, you need to know about these changes. Here is a summary of the Director Penalty Notice (DPN) regime before the 1st of April 2019. Company directors were held personally liable if they failed to report on PAYG withholding


How to Cope with Company Insolvency When You are the Director

At some point in many company director’s career, they will come to face the warning signs of company insolvency. When the pressure is on, it can be very hard to balance everything - from stakeholder expectations to your family responsibilities to trying to make your cashflow work for you. However, you need to be sure that you do not carry on trading when your company is insolvent. The first thing to do is call us! Our company insolvency experts here