Home | What We Do |Insolvency

There are various tests for insolvency, but essentially, if you think the company is unable to pay its debts, it is your duty as a director to ensure you do not take on further debt. Relying on future deals, or finance that has yet to be approved, is no defence against insolvent trading. More critically you are now in danger of any of the following:

• Receiving statutory demands, wind up orders and a liquidator arriving at the front door;
• Receiving a penalty notice from the ATO and personal liability;
• The ATO taking money from your business account or even directly from your customers;
• Losing control of your business and being made liable for company debts.

This is the time to involve the experience of Rebuild Now.

How do I know if my company is insolvent?

How do I know if my company is insolvent? 'Legal tests for company insolvency' As a director, you feel the company might not have enough...

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I have a directors penalty notice – what can I do?

Company Directors Beware A letter turns up at your home address from the ATO. The tax assessment you may have disagreed with will be the...

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Protect me, I’m a Director

As a director there are risks that arise if your company becomes insolvent. A liquidator is obliged to scrutinise your company's financial affairs, your management...

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What is insolvent trading, who decides and how?

Yes, directors can be made liable for company debts via insolvent trading especially after ATO tax debt gets out of hand or a judgement order...

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Lehman liquidators and hangers-on the winners in Australian saga

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Insolvency Statistics

Insolvency is big business for liquidators and trustees. When a company goes into liquidation or voluntary administration or a person goes into bankruptcy it is...

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What does it take to turn the business around?

Directors and owners who have a company in financial crisis or insolvency often spend years trying to turnaround the business. The symptoms are usually debt...

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If the bank is already moving, what can I do?

Because banks and other lenders have security, usually a fixed and floating charge and maybe a mortgage over land, buildings or equipment and maybe the...

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What will the bank do?

Banks and other lenders usually have lots of power over a company because they have security, usually a fixed and floating charge and maybe a...

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Rural Debt Mediation – Caution Required

Here's a general principle: be very cautious about letting your client sign a Debt Mediation Agreement. In most cases they put the client in a...

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