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The “State of the Personal Insolvency System Report” (https://www.afsa.gov.au/about-us/statistics/state-personal-insolvency-report) says that: “Historically, there has been a strong correlation between corporate insolvencies and business-related personal insolvencies...

There are many ways to start reducing your escalating debt that are not an insolvency option which come with a range of negative consequences (more on those later). One of the alternatives is a service called Business Debt Rescue, which may assist with reducing your...

Recently, “corporate insolvencies (including administrations, restructuring and liquidation) have increased by 62% from 4,912 cases in 2021–22 to 7,942 cases in 2022–23. These volumes exceed the pre-COVID-19 average by 3%.” (statistics taken from the “State of the...

A construction business had their business bank accounts frozen by a commercial creditor this week when a receiver was appointed. The directors have a new baby and can’t pay their employees this week because of the bank account freeze… Scenario’s similar to these are...

Australian insolvency laws exist in large part to balance a culture of innovation with excessive entrepreneurial risk taking and recklessness. Australia is well known for its harsh insolvency laws which are widely held to be out of step with the insolvency regimes of...

A recent 5 star google review from one of our business clients says: “I contacted them for my company debts around 6 weeks back. I was explained the process and was told I would need to pay what my company could afford based on our income and expenses and finally...

Is your business struggling financially? Some indicators may be: Solicitors’ letters, demands, summonses, judgments or warrants against the business Creditors being paid outside trading terms Special arrangements with selected creditors Inability to obtain finance...

For businesses navigating the complex terrain of finance, the term "insolvency" carries weighty implications. Understanding what insolvency entails, recognizing early warning signs, and proactively taking steps to avoid it are critical for maintaining the financial...

In the dynamic landscape of entrepreneurship, proactive financial planning stands as a formidable shield against the looming threat of business debt. For entrepreneurs, understanding the significance of meticulous financial foresight can make the difference between...