Illegal phoenix activity — the ‘re-birth’ of a business in new corporate feathers to avoid its obligations — has been a major concern of regulators in Australia for the last 25 years. In this ultimate guide we explain everything you ever wanted (and didn’t want) to know about phoenix activity in Australia.
In article: The COVID-19 economic meltdown has already led to some quick changes to Australian bankruptcy and insolvency law. However, as the basic tools for dealing with insolvency remain the same, it is worth looking at the general regulatory landscape…
How do we determine if a construction company is insolvent? Insolvency, as defined under Section 95A of the Corporations Act 2001 (Cth), occurs when a business or an individual is unable to meet their debts as they become due and payable.
A receiver must be an independent and suitably qualified individual. This means, in nearly all cases, that the receiver must be a registered liquidator and satisfy a range of other requirements that apply to receivers.
On Friday 18 October 2019 our firm hosted a charity fundraiser for Cure Cancer Australia at Sokyo Restaurant at the Star. The cost of the event was entirely subsidised by the firm, so all monies raised by donations and our…
Who is Professor Jason Harris? Professor Harris is one of the most knowledgeable insolvency researchers and academics in Australia. He is a full professor and one of the two authors of the principal textbook of Insolvency Law in Australia (Keay’s…
Sewell & Kettle were very fortunate last week to be invited by Cure Cancer and The Can Too Foundation to participate in a tour of their cancer research lab at the University of New South Wales. Sewell & Kettle is…
In article: Summary: the ROCAP targets phoenix activity Starting in 2018, there have been new reporting requirements in place for companies that are going through an ‘external administration’ process (i.e. where a receiver or liquidator has been appointed). Directors and…
Sewell & Kettle are proud to support the efforts of Cure Cancer Australia. On Friday 5 October 2018 our firm held a charity fundraiser for Cure Cancer Australia at Sokyo restaurant at the Star. Which charity was supported? All monies…
Under the Corporations Act 2001 (Cth) there are 4 grounds that can be relied upon in an application to set-aside a statutory demand.
Deed is a formal document that gives the clear indication that a person or entity gives its most sincere promise that they will fulfil contractual obligations.
Pursuant to section 459C(2) of the Act, an application to wind up a company in insolvency must be done within 3 months of the date that a company is presumed to be insolvent.