Under the current framework, ASIC does not verify the personal details of corporate officeholders. As a result, many companies are run under false names. This allows rogue company directors to deliberately avoid paying creditors by liquidating the company, transferring its assets to a new company and continue trading. The Treasury Laws Amendment (Registries Modernisation and Other

Bankruptcy is a legal process allowing individuals or other entities to seek relief from debts they are unable to repay. It may be entered into voluntarily or a creditor may petition for bankruptcy if a debt of $5,000 or more is owed to them. Below are our answers to some of the frequently asked questions

When seeking legal advice and/or representation, legal fees are inevitable but how much you spend may be entirely up to you. Here are some tips on how you can control the costs and reduce your fees:   LISTEN TO YOUR LAWYER Presumably, you have engaged with your chosen lawyer because of their expertise and hope

Determining when a company is insolvent can be quite complex, so professional advice should always be sought. However, as a brief overview, a company is insolvent when it is unable to pay amounts it owes to creditors when they become due and payable. Directors of companies are duty-bound to prevent their company from trading if