RSM Australia

Restructuring Insights

Restructuring Insights

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 >>

Appeal helps liquidators sleep easy

10 April 2018
Phew!Liquidators breathed a small sigh of relief at the decision delivered on 9 March 2018 to the appeal in to the Linc Energy Ltd (In Liquidation): Longley & Ors v Chief Executive Dept of Environment & Heritage Protection decision which was delivered early in 2017.

Insolvency Reform Edition 15 | 1 year bankruptcies. Will we regret this?

13 March 2018
This article of Insolvency Reform discusses the Bankruptcy Amendment (Enterprise Incentives) Bill 2017.

Company directors get a safe harbour in relation to potential insolvent trading claims

4 December 2017
On 18 September 2017, what has become called “the safe harbour defence”, became available to company directors from claims against them for allowing the company to incur debts whilst insolvent (“insolvent trading”). This reform was part of the Government’s National Innovation and Science Agenda launched in late 2015.

Tips to avoid failure for small business - Part 2

24 November 2017
In Part 2 of this series, we provide some key advice for reducing debt risks for small business owners.

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