You can be too smart for your own good

The preferential payment provisions of the Corporations Act 2001 are one of the most powerful weapons in a liquidator’s armory. As many would be aware, creditors have many defences available but the most often successfully employed is the continuing business relationship or running account defence contained in Section 588FA(3) of the Corporations Act. Recently, we had a

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BICB Partners with Alares to Provide Access to Party Searches and Monitoring for most Australian Courts

Court action is a leading indicator of financial stress and future default. Alares Party Search provides real-time information on court actions across Australia. Alares Watchlist provides instant alerts for any court actions that occur involving businesses you are monitoring. From mid-May 2019 BICB members will have access to the Alares Party Search and Monitoring platform

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Members 60/90+ Debt – Sept Quarter 2018

The consolidated debt at 60/90 days for the Sep 2018 quarter was 5.66%. This was slightly lower than the Sep 2017 results. The 2017/2018 financial year average for outstanding debt at 60/90 days was 6.57%. This was a big improvement on the 2016/2017 results which averaged 7.72% for the year.

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BICB Recorded Administrator Appointments

Since last reported, (in last month’s newsletter), we have recorded 12 Administrator appointments, 9 in December and 3 in January 2019. Company (Voluntary Administration) Appointed Region Woodhill & Sons Pty Ltd 03/12/2018 NT Niveau Pty Ltd 03/12/2018 WA Calatafirmi Enterprises Pty Ltd 03/12/2018 QLD Unity Group of Companies (2009) Pty Ltd 13/12/2018 SA Multidwell Group

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