The leaders of the Gold Coast Professional Services scene attended the jam-packed inaugural ReGroup Solutions breakfast at RACV Royal Pines on Thursday 19 July 2018 to learn about Turnaround Practitioners. The informational and networking event, hosted by partners Ben Heaney and Michael Durbridge, focused on the emerging profession of business rescue, restructuring and turnaround. There […]
READ MORELabour Hire Industry Shake Up
The Long And Short Of It There are less than sixty days to lodge an application for a labour hire licence. The practical approach for clients that operate a labour hire business would be to quickly undertake a fair assessment as to whether their company will pass the financial viability test. If there are legacy […]
READ MORECare, Diligence & the Business Judgement Rule
Who would want to be a director? Being a ‘director’ is an esteemed title which may project an image of leadership, influence, responsibility, authority and affluence. It may be that you have decided to join a NFP board, or the title is bestowed upon you by the CEO following an appraisal, you have been made a […]
READ MOREHow Business Owners Should Manage Risk and Checklist for Times of Crisis
Technological Advancements and Economic Growth The breadth of technological change and digital disruption has changed businesses approach to risk. Innovation and risk taking can result in significant strategic benefit and growth but, clearly, may also be hugely detrimental to shareholders, creditors and stakeholders if things go wrong. Objectively measuring and defining a company’s ‘risk appetite’ […]
READ MORE17-428MR ASIC reports on corporate insolvencies 2016/17
Imagine the positive impact to people’s lives if just half of these 8,425 companies could have been turned around…. On 12 Dec 2017, ASIC published its annual overview of corporate insolvencies based on statutory reports lodged by external administrators for the 2016–17 financial year. The total number of external administrators’ reports lodged in 2016–17 was […]
READ MOREConsider the Application of Safe Harbour Protection for Directors
Support for the carve-out model The Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill (“the Bill”) has introduced Safe Harbour’. Effective 19 September 2017, safe harbour provides protection for the directors of financially challenged companies from personal liability arising from insolvent trading. The model adopted sets the safe harbour as a legislative ‘carve-out’ rather […]
READ MORE‘Twilight Zone’, Voluntary Administration and Safe Harbour Protection for Directors
Twilight Zone – Directors Appointment of Administrators Australia’s stigmatising of corporate failure and the favouring creditors over debtors has given little incentive for directors to attempt a restructuring and turnaround of their companies. On the emergence on financial troubles, directors face an immediate decision as to whether they must place the company into administration. This has […]
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