by Jane Oja | Apr 7, 2024 | Blog
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...
by Jane Oja | Apr 7, 2024 | Blog
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...
by Jane Oja | Apr 7, 2024 | Blog
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...
by Jane Oja | Apr 7, 2024 | Blog
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...
by Jane Oja | Apr 7, 2024 | Blog
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...
