The ‘peak indebtedness rule’ is no more (or at least, pending any appeal) following the recent decision of Badenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers…
Proposed “pause” to ATO debt recovery action
As part of the 2021-22 Budget, the Federal Government announced a proposal that would enable small business entities (including sole traders) with an annual turnover of less than $10 million to apply to the Administrative Appeals…
Update to Corporate Insolvency Reforms and Debt Restructuring
As a result of the impacts of the COVID-19 pandemic on commercial enterprise within Australia, the federal government introduced temporary relief for financially distressed companies to assist them to navigate this crisis. Among other things, this…
A new way to restructure your Debt: For Small Businesses
Despite the various Government supports that have been implemented since March 2020, Covid-19 has had a devastating impact upon small businesses. Now, more than ever, it is critically important for small businesses to have certainty and…
Retention of title clauses: an effective tool in defending preference claims?
Since the Personal Property Securities Act 2009 (PPSA) came into effect on 30 January 2012, we have seen an increase in creditors attempting to establish themselves as ‘secured’ creditors under the Unfair Preference regime, by way…