Sewell & Kettle Announces Sponsorship of the Association for Business Restructuring and Turnaround
Official Launch Night – Sydney NSW. 5 Star Exclusive Event. Future of Sustainability for SME’s. 14 September at Fullarton Hotel Sydney
Essential checklist for accounting records before undertaking a Small Business Restructuring
Accounting records play a vital role in any business, serving as the foundation for financial reporting, decision-making, and compliance. As a business prepares for a Small Business Restructuring Plan (SBRP), it is crucial to ensure that its accounting records are accurate, complete, and well-organized. In this blog post, we provide a comprehensive checklist to help an insolvent company to review and assess its accounting records before initiating an SBRP.
Client journey 4 – Rebalancing the odds — How sub-contractors can get ahead and thrive
Sub-contracting is an essential component of the Australian economy. Here we suggest some ways for sub-contractors to overcome the challenges of their field and avoid financial Zombification
Client journey 3 – You’re a technician with an entrepreneurial spirit
Technical experts with a flair for entrepreneurship are the key new business starters in Australia. Here we examine what success looks like for these types of business.
Client Journey 2 —Why running a small business is harder than running a big business
While big business get all the media attention, the Australian economy is driven by small businesses. Here we look at some of the challenges for small business, and suggest some ideas to help them in their business journey.
How successful has the small business restructuring process been so far?
The Small Business Restructuring Process (SBRP) was introduced in Australia in 2021 as a streamlined process for insolvent small businesses. The objective of the process is to allow small businesses to put a restructuring plan proposal to creditors without losing control of their business.
Client Journey 1 — You’ve done time to learn your craft
The majority of Australian businesses are expertise-driven. We look at some of the difficulties that face expert entrepreneurs and what they can do to get on the right path for business success.
Corporate Inquiry in Insolvency
On 28 February 2023 Ben Sewell of Sewell & Kettle Lawyers was invited to give evidence for the Parliamentary Joint Committee on Corporations and Financial Services’ inquiry into corporate insolvency in Australia. The scope of the inquiry is quite broad,…
Firm Announcement: Ben Sewell is registered as Restructuring Practitioner
The firm is pleased to announce that on 31 March 2023 Ben Sewell of Sewell & Kettle Lawyers was registered as a Restructuring Practitioner by ASIC. Ben is only the second person in Australia to be registered as a Restructuring…
Why a financially troubled business should create a three factor budget
A major contributor to financial distress for small to medium-sized enterprises (SMEs) in Australia is poor budgeting. Here we look at a useful budgeting technique — the ‘three factor’ budget/forecast, and how this can be used by distressed businesses to turn things around and avoid insolvency.
Why are constructive trusts relevant in bankruptcy?
Constructive trusts impact on corporate insolvency and bankruptcy by reducing the pool of assets available for distribution to creditors. Here we define constructive trusts, and look at their application in corporate and personal insolvency.
What happens to a Division 7A loan in a winding up?
In a winding up, it is the duty of the liquidator to realise all assets of the company. This includes outstanding loans to shareholders and directors. In this article, we explain what happens to some of these loans — loans that comply with Division 7A of the Income Tax Assessment Act 1936 (Cth) — in the winding up of a company.