Insolvency Blog

Are ‘restructuring professionals’ covering up a wide variety of sins?

October 14th, 2019 - In ACN 093 117 232 Pty Ltd (In Liq) v Intelara Engineering Consultants Pty Ltd (In Liq) [2019] FCA 1489, the Court determined that a transaction described as a ‘legal phoenix’ by the advising practitioner was, in fact, an uncommercial transaction and an unreasonable director related transaction. The company formerly known as Intelara Pty Ltd (“Intelara”)

Insolvency proceedings may be used as a debt collection tool!

October 4th, 2019 - The September 2019 High Court Case of Sell Your Car With Us Limited v Sareen may have seen a shift in the Court’s view that it is now possible to use insolvency proceedings as a debt recovery tool. Mr Sareen used the services of Sell Your Car With Us to sell his £61,000 car. During

Lovely to hear we would be recommended 1,000 times over

May 13th, 2019 - “Bankruptcy [the liquidation of their company] has to be the worst thing that has ever happened to me and my family. The most difficult parts were acknowledging that this was the only option and the aftermath. In the lead up to the decision, we had experienced a series of poor trading conditions with bills mounting

Void Dispositions after a winding up petition can be costly for directors

November 18th, 2018 - Void Dispositions taking place after a winding up petition is presented can be very costly for directors Why should I be concerned about void dispositions that take place after a winding up petition is presented and why would it be costly for me as a company director?  When a winding up petition is presented to

November 16th, 2018 - Road Haulage Boss Driven to Commit Fraud Banned for 11 years Yet again, another director decides not to seek proper and timely insolvency advice.  Apparently committing tax fraud is a good way of solving financial problems!?  This has never been further from the truth.  An 11 year directorship ban with a suspended custodial sentence was
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