RSM Australia

Restructuring Insights

Restructuring Insights

Insolvency Reform Edition 19 | Another Hole in the Corporate Veil

1 March 2019
A Bill with big consequences for company directors was introduced to the House of Representatives on 13 February 2019. It was quickly referred to the Senate Economics Legislation Committee (“the Committee”) on Valentine’s Day. The Committee is scheduled to report on the Bill on 26 March 2019.

WPG Resources Ltd - Update on Administration

28 February 2019
Following an application made to the Court, the Voluntary Administrators have been granted a further extension of time for the convening of the second creditors meeting until 29 April 2019.

Time’s up: why you may need to renew your PPSR registration

5 February 2019
Happy 7th anniversary to the Personal Property Securities Register (PPSR)!

WPG Resources Ltd - Update on Administration and Receivership

28 January 2019
On March 6 2019 WPG Resources Ltd (“WPG”) advised that ASIC had granted WPG relief from its financial reporting obligations for a period concluding on the earliest occurrence of one of the events that were included in that announcement (“Extension Period”).

WPG Resources Ltd - Extension of Time to Hold the 2018 AGM

28 November 2018
The Company currently has financial reporting deferral relief until 30 January 2019, being 6-months from the 30 July 2018 date that the Company’s Administration commenced. Click here to more information    

Insolvency Reform Edition 18 | Open Season on the Phoenix

13 September 2018
The Government has proposed radical change to combat the estimated $5.13 billion annual cost to the economy of illegal phoenix activity. The draft legislation targets directors and enablers of this activity. An expansion of director penalty regime to include GST is  also proposed.

Australia’s new ipso facto regime is up and running — are you ready?

27 August 2018
The newly-introduced ipso facto laws aim to improve the likelihood of a successful restructure by preserving the standing of contracts (and hence goodwill in contracts) after filing for insolvency. We take a closer look at the new reforms which began operation on 1 July 2018.

Insolvency Reform Edition 17 | The Sequel 10 Years in the Making: Protecting Employee Entitlements - July 2018

5 July 2018
This article discusses proposed reforms to strengthen the protection of employee entitlements and asks if the proposed reforms will make it through Parliament in their current form. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >>

Oppressive behaviour as a director will bite you in the wallet

17 May 2018
The exercise of directors’ powers came under close scrutiny in the recent decision In the matter of Optimisation Australia Pty Ltd [2018] NSWSC 31, and the directors lost out against a minority shareholder who

Insolvency Reform Edition 16 | Is it time?

3 May 2018
This article discuesses whether it is time for Insolvency Practice Standards contained in the ARITA Code, to be given the force of law. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >>

Pages