BICB and AMPAC Debt Recovery recently meet to discuss the benefits of working more closely together to build greater awareness of each other’s services throughout the building and construction supply sector. This is timely, as the broader Australian economy has been impacted on several fronts recently by drought, bushfires and now COVID-19. It is expected
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
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
There has been a lot of media attention recently about the level of corporate insolvencies in the building industry. The media’s reporting on this subject could lead you to conclude that insolvency in the building industry is ‘out of control’. There is no denying that the construction industry has a disproportionately high level of insolvency
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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