July 1, 2019

At the most recent instalment of the de Jonge Read Seminar Series we discussed the Bankruptcy Amendment (Enterprise Incentives) Bill 2017. The bill proposed that the term of bankruptcy be reduced from three years to one year. It would be fair to say that the main drivi...

April 18, 2019

This month’s case study looks at a recent situation where the director had already put the company into liquidation on his former accountant’s advice prior to talking to de Jonge Read. The client engaged a new accountant for a new venture he was considering. When the n...

March 6, 2019

I don’t know how many times I hear “it’s a very simple situation, I don’t own anything so I don’t really need advice, I can do this myself”, only to have the same people come back later when issues arise.

One thing I have learnt in my time whilst dealing with clients in...

January 16, 2019

BACKGROUND

Our client had established an auto trim business in a regional location in 2004. Over the past few years however, the business had suffered poor sales which caused cash flow issues ultimately having a negative effect on the mental health of our client.  The...

November 21, 2018

Often one of our client’s biggest fears is losing the family home in a bankruptcy scenario. This situation is exacerbated when one partner in a relationship is going bankrupt and the other not, especially where children are involved. 

Thankfully in the first instance, w...

October 18, 2018

Vic and Richard are two brothers who were directors of what became a rather large (100+ employees) company. Due to changes in the industry, the business model changed, became unprofitable and ultimately the company was put into liquidation. 

On the advice from the accou...

September 25, 2018

Deed of Covenants (DOC) can be easily missed and forgotten. Therefore, Company directors may unknowingly and unnecessarily be placing their assets at risk.

September 17, 2018

Bankruptcy can be an extremely emotional and stressful time, it weighs heavily on the individual as well as on their family. Though entering bankruptcy may release the creditor pressure valve, other issues may rear their ugly heads. One of these issues is risk to famil...

November 22, 2017

Nothing!

According to Australia’s Bankruptcy Act 1966 (“the Act”).


Transfers of property for less than market value, including transfers where no consideration at all is paid, may be challenged by a trustee in bankruptcy if the person transferring the property later bec...

June 29, 2017

Getting specialist insolvency advice prior to entering into bankruptcy can have an enormous impact on the process and outcomes. This month’s case study depicts a situation where our client entered into bankruptcy without specialist advice and how de Jonge Read assisted...

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