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

Safe Harbour Provisions (Insolvent Trading) – What Directors Need To Know

Safe Harbour Provisions (Insolvent Trading) - What Directors Need To Know Background In response to the COVID-19 pandemic, the Federal Government announced a Safe Harbour amendment to the Corporations Act 2001 (Cth) (Corporations Act) to provide temporary relief measures for financially distressed businesses. Effective from 25 March 2020, the amendment protects directors from being personally liable for debts incurred during insolvent trading if the debt was incurred: a. in the ordinary course of the company’s business; b. during the six-month

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Safe Harbour Amendments – What Advisers Need To Know

Safe Harbour Provisions (insolvent trading) - What Advisers Need To Know Background In response to the COVID-19 pandemic, the Federal Government announced a Safe Harbour amendment to the Corporations Act 2001 (Cth) (Corporations Act) to provide temporary relief measures for financially distressed businesses. Effective from 25 March 2020, the amendment protects directors from being personally liable for debts incurred during insolvent trading if the debt was incurred: a. in the ordinary course of the company’s business; b. during the six-month

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How to Close Down your Company and Appoint a Liquidator

Closing down your company can be a stressful time. If your company cannot afford to repay its debts, it is most likely insolvent. As a director, you have an obligation under the law not to incur any further debts when your company is insolvent and you may wish to consider winding it up and appointing a liquidator. Liquidation If your company is insolvent, liquidating the company means your business stops operating and a liquidator is appointed either by the shareholders

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