Knowledge

In 2005 and 2009, crucial amendments were made to the Bankruptcy Act 1966 (Cth) and the Family Law Act 1975 (Cth) that bestowed jurisdiction upon the Family Court of Australia in bankruptcy for married and de facto couples.

One of the most seminal decisions in bankruptcy law is the High Court decision of The Trustee of the Property of John Daniel Cummins, A Banklrupt v Cummins (2006) [2006] HCA 6. 

Last week Frank Law presented a seminar entitled: Firing the ‘Unfireable’: How to dismiss someone and not get sued.

Compulsory retirement is when an employer forces an employee into retirement by either;

In the decision of Mondalez v AMWU [2019] FCAFC 138 handed down 21st August 2019, the Court has fundamentally changed the way many Australian employees are entitled to accrue sick leave. 

James Frank recently spoke at a Sydney Hills Business lunch on how the Internet has changed the business game. The following article is a summary of what he spoke about.

When a person who owes you money becomes bankrupt, it may become a lot more difficult for you to recover your debt. A trustee (being a person or entity) steps in to manage the bankrupt’s affairs. The trustee works with the bankrupt individual and the bankrupt’s creditors to achieve a fair outcome for all. While the trustee will endeavour to ensure all creditors receive due payment for the amounts owing to them, creditors may have to commercially accept ‘cents in the dollar’ to ensure they receive some payment for their debt.

Whenever we speak to clients about why their business is struggling and explore restructuring options we continually hear common myths about the Voluntary Administration (VA) process. We have detailed the 5 key myths below:

When running a litigation matter, that is, any Court matter, it is critical to be able to prove to the court that your court documents were delivered to the other side. Afterall, if the other side did not receive your court documents then how do they defend themselves and how is justice upheld in the court system? This is where a process server comes in handy.

Voluntary Administration is a formal restructuring process contained within Part 5.3A of the Corporations Act. It has more recently become a strategic tool used by directors to protect themselves from insolvent trading breaches but also to ‘reset the business’ in times of shock.