A business’s ability to survive and thrive depends on its ability to align itself with the time in which it operates. At the height of the industrial revolution, for example, successful manufacturing companies embraced the assembly line technique of mass production....
In a recent matter involving the appointment of BRI Ferrier’s Peter Krejci and Robyn Karam as voluntary administrators, a major creditor (by value) challenged the deed of company arrangement (DOCA) incorporating a creditors’ trust that had been accepted by vote of all...
Liquidators can face significant issues when appointed over companies that operate under the licencing regime of the Therapeutic Goods Administration (TGA). The TGA is a Commonwealth Government agency administered by the Department of Health. It’s responsible for...
Since at least the 2005 financial year, the Australian Securities and Investments Commission (ASIC) has tracked the most common causes of business failure. The statistics reveal the circumstances commonly shared by companies that collapse: inadequate cash flow or high...
A number of issues may prohibit the prosecution, or defence, of insolvent trading claims in the courts. One is cost. It’s sometimes assumed, in such cases, that it’s mandatory to engage the services of a forensic accounting professional to produce a formal expert...
As the Australian Government considers insolvency law reforms as part of its Innovation and Science Agenda, it’s worth reflecting on the existing law relating to corporate restructuring via voluntary administration (VA) and deeds of company arrangement (DOCA). While...
