Banking & Finance

  • The Insolvency Practitioner’s Role Under FEG

    When an insolvency occurs, the Insolvency Practitioner (IP) is usually the first point of contact for employees seeking their outstanding employment entitlements.  As an initial step, IPs should refer relevant employees to FEG Online Services to lodge a claim for an advance with the Department of Education, Employment and Workplace Relations. Beyond this initial advice to employees, what role does [...]
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  • Is My Company Insolvent? How do I know?

    You’re having difficulty keeping on top of your company’s creditors, paying its taxes and the bank is putting pressure on your company overdraft, but you feel it is all a temporary cash flow issue. Is my company insolvent? The Act Section 95A of the Corporations Act 2001 (the Act) expresses insolvency as an inability to pay debts as and when [...]
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  • Liquidations, administrations, receiverships.

    There are a number of insolvency processes available to companies if they are facing financial difficulty, but which one is best? We have outlined below a brief summary of three of the most commonly used processes to give you a flavour of the differences.   Liquidation People commonly think of liquidation when a company is in financial distress, but it [...]
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