Australian businesses have no-doubt benefited from the convenience afforded by temporary changes to the Corporations Act allowing virtual meetings and e-signing of documents during the pandemic. Unfortunately, these temporary measures are set to expire in March 2021 (unless they are extended). A recent submission to Treasury by the Governance Institute of Australian (GIA) has argued that [...]
Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]
With Victoria currently in the middle of Stage 4 restrictions, with impending announcements to be made in the next few weeks concerning the lifting of restrictions (hopefully!), it’s a good time to revisit some of the trickier scenarios surrounding employment and employment-related laws. There’s a lot of information out there at the moment, but as [...]
The Australian government’s response to the COVID-19 pandemic incorporated several changes to insolvency legislation. In short, financially distressed businesses were given temporary relief with increases to the threshold at which creditors can issue a statutory demand (along with a significant extension of time to respond to a statutory demand), as well as relief from directors’ [...]
