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September 2020 Newsletter
The Australian Government has announced the most significant changes to the Australian Insolvency framework in almost 30 years.
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What directors need to know about the most significant insolvency reforms in decades
The Federal Government’s announcement that it would undertake the most significant reforms to Australia’s insolvency framework in 30 years is welcome news for many small businesses. For directors, it will be very important to carefully consider the information in the Government’s fact sheet outlining the reform process.
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What is the Insolvency Risk Factor?
The Insolvency Risk Factor is the culmination of a major data analytics programme where court data was analysed against 10,000’s recent corporate insolvencies to identify the court actions most likely to lead to future insolvencies. The IRF provides a simple statistical measure of the potential impact of a company’s court actions. For example, a company with an IRF of 10 is statistically 10x more likely to become insolvent during the next 12months than a company with no court actions.
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August 2020 Newsletter
This month’s newsletter features a press release from the HIA discussing that population growth and access to housing finance will be key to Victoria’s economic recovery.
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Extension to Temporary Protections for Financially Distressed Businesses – Is this just delaying the pain?
Financially Distressed Businesses As anticipated, the Federal Treasury announced on the 7th of September, that the temporary protections for financially distressed businesses will be extended beyond the initial six month period to 31 December 2020. Since the introduction of these measures in April 2020, the number of construction industry related insolvencies have decreased by 65%….
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July 2020 Newsletter
This month’s newsletter features a piece on “The ‘false comfort’ of extended temporary insolvency law measures and the need for deeper structural reform” written by Scott Atkins and Kai Luck.
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June 2020 Newsletter
This month’s newsletter features a piece on “HIA forecasts new home building to fall in half” written by Business News Australia.
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Personal Guarantees Gone Wrong
A well-executed personal guarantee can be the holy grail of debt recovery tools, but one overlooked detail can bring the whole thing to its knees. It is surprising the number of clients relying on guarantees that are either ineffectively drafted or have been inadvertently discharged by the actions of the client.
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May 2020 Newsletter
This month’s newsletter features a piece on “Personal Guarantees Gone Wrong” written by Karl Hill.
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BICB Partners with AMPAC Debt Recovery
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…
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February 2020 Newsletter
We are led to believe that the ATO will not resume recovery activity through statutory demands until early 2022.
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You can be too smart for your own good
