ABC Learning Centres was the biggest childcare company in the world. From humble beginnings in Brisbane in 1988, it grew to 43 centres in Australia at the time it was listed on the Australian stock market. Between 2001 and 2007 the company acquired a further 2195 childcare centres across Australia, New Zealand, the UK and the United States.
Michael R Czinkota, former Deputy Assistant Secretary of Commerce in the United States Department of Commerce said this:
Last week Frank Law presented a seminar entitled: Firing the ‘Unfireable’: How to dismiss someone and not get sued.
On 19 September 2017 the safe harbour laws commenced which enabled directors to turn around struggling companies without exposing themselves to personal liability under Australia’s insolvent trading laws.
If someone owes a debt to you that they refuse to pay, you may wish to take legal action to pursue them for payment of the amount owing. If you decide to sue someone for the debt, the first question you must consider is the applicable jurisdiction. In other words, you need to ask yourself the question, ‘In which jurisdiction should I pursue my debt?’.
The actions of employees regularly get employers into trouble. Whether it’s a disgruntled employee as they leave their workplace or a trainee starting out, there can be many issues that need to be accounted for by the employer. But what about criminal activity?
As already identified in a previous article titled, How to Restructure your Business: Part One, the broad insolvency process in Australia can be broken down into 2 stages:
Australian businesses are increasingly engaging workers overseas attempting to overcome skill shortages or simply lowering labour costs. Opening offices overseas or establishing overseas joint ventures usually involves Australian companies sending Australian management overseas and then, along with hiring local workers, establishing overseas branches to assist in their Australian operations. But advances in technology are progressively making it unnecessary for Australian businesses to relocate employees overseas, they can simply ‘hire and fire’ overseas workers from the comfort of their Sydney-based HQ offices.
The insolvency process in Australia can be broken down into two stages.
- Restructuring: when there is a possibility that the company can turnaround or be salvaged
- Winding Up: when the company is irretrievably insolvent and has no real possibility of a turnaround or resurrection
The duty of disclosure requires all those in family law to provide all information relevant to the family law proceedings. In family law financial cases this means that those involved are required to provide ongoing relevant information such as bank statements, tax returns and financial reports. However, it is not uncommon for some to be reluctant in disclosing relevant information. Afterall, if you disclose an asset then that asset may form part of the family law proceedings. So, it becomes difficult for those who are trying to get accurate and up to date information on those assets.