Author: Doug Watt
BICB Reported Liquidations in December 2018, Highest Ever Recorded
Liquidators were appointed to 61 companies listed in BICB’s database during the month of December 2018. This is the highest ever recorded for a single month by BICB. QLD-16, NSW-13, VIC-20, SA-4, WA-7, NT-1.
Author: Doug Watt
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.
Author: Doug Watt
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.
Author: Doug Watt
Consolidated Outstanding 60/90 Day Debt Percentage
Our data shows that the Consolidated 60/90 debt percentage for the first four months of 2018 is slightly higher than the first six months of the 2017/2018 financial year. It will be interesting to see if this trend continues. Consolidated DSO Result Days Sales Outstanding (DSO) represents the average number of days it takes…
Author: Doug Watt
Should you Sue or Just Cut Your Losses?
Nothing is quite as painful in construction business as realising that your payment claim is going to sit there, unpaid, unless you take action to collect.
Author: Doug Watt
The right to be wrong – the ability to review Adjudicators’ determinations
Under tight time pressures to decide often complex matters, Adjudicators appointed to determine an adjudication application under Security of Payment legislation may make mistakes.
Author: Doug Watt
Minority creditor terminates director friendly voluntary administration
Our client obtained Supreme Court judgment for an amount of $1.64 million. Shortly thereafter, the defendant company was placed into voluntary administration by its director.
Author: Doug Watt
Ipso facto Insolvency Reforms
A large percentage of small to medium sized enterprises collapse within the first three years of commencement for various reasons, ranging from the lack of working capital, lack of strategic direction to poor planning, cash flow management and record keeping.
Author: Doug Watt
A New “Fairer” Way In Queensland – Building Industry Fairness (Security Of Payment) Act – Nov 2017
The new Building Industry Fairness (Security of Payment) Bill 2017 (Qld) will see the introduction of Project Bank Accounts, and the repealing and replacement of the Building and Construction Industry Payments Act 2004 (Qld) (‘BCIP Act’) and Subcontractors’ Charges Act 1974 (Qld).
Author: Doug Watt
QLD – The Building Industry Fairness (Security of Payment) Bill 2017
