A caveat has been lodged on my property!
Discovering that a caveat has been lodged on the title of your property can be an unpleasant surprise. Whether you or someone you know has encountered this situation, it’s helpful to understand what this means and to be aware of the appropriate steps you can take to respond appropriately. What is a caveat? A caveat […]
Should I become a Director? Part 4 – A Guide for new directors – tips to prevent or reduce personal exposure.
It is widely recognised that directors hold a crucial position in any business, whether within an established company or if embarking on a new business venture. Consequently, it is essential for directors to possess a comprehensive understanding of their obligations and responsibilities. Director’s role In previous articles, we highlighted the complexity of the director’s role […]
Head in the Clouds – where are my books and records?
When most entrepreneurs dream about starting a business to achieve their goals and aspirations, they’re probably not dreaming about what books and records they will need to keep, and how to do that. Understanding director’s duties is probably also not top of their list either! That’s probably understandable – it’s not always the most exciting […]
Should I become a Director? Part 3 – A Guide for New Directors – Understanding the personal exposure
The decision to become a director, whether in a new business venture or an established company, is one that demands serious consideration. Individuals must understand whether becoming a director is the best approach to their business ventures and weigh-up the associated risks and benefits in order to make an informed decision. Recent legislative reforms have […]
What is the difference between liquidation and bankruptcy?
Liquidation and bankruptcy are related but distinct concepts. When a company or individual is confronted with financial troubles, there can sometimes be confusion about whether they need a liquidation or bankruptcy. Here’s a brief explanation of the different meanings and implications between the two: Liquidation Liquidation is a legal process in which a company’s legal […]
Should I become a director? Part 2 – A Guide for New Directors – know your duties and risks.
Part 2 of a 4-part series Directors play an essential role in well-functioning organisations. However, as discussed in our previous article, contemplating whether to become a director is a complex decision that requires careful consideration. This article explores the fundamental role and numerous duties and obligations that directors are entrusted with as part of their […]
Discovering the power of a Deed of Company Arrangement (DOCA)
Even the most resilient companies can come face to face with financial hardship in this challenging business landscape. When this happens, deciding to enter a Deed of Company Arrangement (DOCA) can prove to be a powerful tool for those seeking a second chance. While this may seem daunting, it empowers companies to navigate their financial […]
Should I become a director? Part 1 – A Guide for New Directors – know your duties and risks
(Part 1 of a 4-part series) All business owners are advised at some point to register a company and become one of its directors to transact their business through a corporate structure. The question is should they become a director, and what are the implications? Registering a company is a simple process. Individuals can register […]
Signs that it’s time to call in a Voluntary Administrator
We are all familiar with the boiled frog scenario. Just like the frog, business owners sometimes cannot react to changes that happen gradually. Unfortunately, the reality is, if warning signs of financial distress are ignored, a business can end up just like the frog. The business, which the owner worked so hard to build, will […]
To “trade on” or not to trade – Part 2
Often business owners are faced with a myriad of issues that can lead to insurmountable financial pressure. They know their business and often consider it to have significant value as a going concern. However, the financial issues are challenging to overcome and often threaten the business’s continued existence. Trading on to sell One way to […]
