The recent rapid growth in domestic construction activity has caused significant supply and demand issues within the Australian building & construction economy. We explore the questions; “Will these pressures lead to an increase in business failures?” “If so, when is this likely to start?”
Patrick Schweizer, Alares Systems Pty Ltd and Wayne Clark, BICB, will provide an overview and practical demonstration of the new Insolvency Risk Factors Predictive Tool feature of the Court Search and Monitoring tool, which will be available to all members through the BICB online system.
Since March 2020, we have witnessed a significant period of change in all aspects of life, but more particularly, we have seen unprecedented legislative changes and Government support to curb the impact of COVID-19 on businesses. The wave of insolvencies widely predicted has not yet hit so it is now more important than ever that businesses in the building industry are prepared for when it does.
Overcoming the abuse of insolvency laws by related party creditors: turn a challenge into an opportunity for your business
Insolvencies are predicted to hit record numbers in 2021. Unfavourable director friendly DOCA’s seem to be part of the insolvency landscape. Credit providers will be all too aware of the prevalence of related creditors controlling the voting within insolvency administrations and forcing deeds of company arrangement (DOCA) favourable to the directors to avoid a winding up and claims against the directors.
After a year of unprecedented change we have seen various legislative changes and the introduction of the small business insolvency reforms. As creditors it is important that we understand the impact this has on you and your customers.