Doug Watt

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.

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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Industry Sector 60/90+ Debt

The equipment hire sector lead the field when it comes to outstanding balances at 60/90+ days, with an average of 17.3% for the three months ending 31 December 2018. The consolidated value of debt at 60/90 days at 31 December 2018 was $224,576,592 (8.7%).    

BICB Recorded Applications for Wind Up – January, 2019

Since last reported, (in last month’s newsletter), we have recorded 35 Applications for Wind-up. The ATO are listed as the Applicant in 54% of these listings. Company Applicant State Hearing Date Tierra Built Pty Ltd Eaton & Sons Pty Ltd NSW 30/01/2019 Adant Services Group Pty Ltd Powerark Solar Pty Ltd VIC 30/01/2019 Lxora Construction …

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BICB Recorded Liquidator Appointments, December 2018

We recorded 61 liquidator appointments in December 2018 and 35 appointments in January 2019. The appointments in December were the highest ever recorded by BICB. Company (In Liquidation) Appointed Region Zion Industries Pty Ltd 23/11/2018 QLD Allec Electrical Services Pty Ltd 23/11/2018 QLD KNG Scaffold Pty Ltd 30/11/2018 SA Platinum Homes & Additions Pty Ltd …

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Unfair preferences – creditor’s defence of not suspecting insolvency

Just because a liquidator asserts you have received an unfair preference, does not necessarily mean you have or that there are no potential defences available to you. The Corporations Act 2001(Cth), enables liquidators in certain circumstances to claw back payments made by a debtor company to an unsecured creditor where the payment was made to …

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Are unresolved A/R disputes taking a toll on your company’s bottom line?

Have you ever calculated your costs for resolving receivable disputes? If you have, you’ve probably discovered that the process is quite expensive. Here’s why. A misstep in any department involved in a sale can result in a discrepancy that delays payment and drives up costs. Disputes, discrepancies and exceptions are “nonstandard” transactions that require additional …

Are unresolved A/R disputes taking a toll on your company’s bottom line? Read More…

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