Insolvency
Here’s a Fun Fact Who would have thought that a line marked around the hull of merchant ships could be such a lifesaver? In the late 19th century, Samuel Plimsoll, a merchant and shipping reformer, became increasingly concerned about the loss of life caused by the overloading of ships. He devised the Plimsoll line, a […]
By Terry Ledlin, Natalie Ledlin and Holly Jackson Avoiding bad debt and debtor heartbreak OK, we’ll admit it…..Married at First Sight has been a staple diet in our office for the last couple of months (although it did seem like it would never end). A common theme (outside of selfies, Insta followers, Botox and fake […]
Compliance with the PPSA is important The PPSA was introduced to ‘level the playing field’ between unsecured and secured creditors on the insolvency of a customer. By far the greatest benefit of the PPSA is its ability to create security in the goods you sell. The PPSA now allows you to truly retain the title […]
Receivership, administration, debt agreement, liquidation, bankruptcy and insolvency. These all mean the same thing, don’t they? Kind of. Unless you work in the insolvency industry it can be easy to confuse these terms. This article aims to explain each term so if you ever come across it you know what it means. Insolvency Insolvency describes […]
Recap the most important points of our PPSA webinar Our recent webinar featuring Paul Mead (our CreditorWatch PPSR expert) and Terry Ledlin (Special Counsel of Ledlin Lawyers) was a great success and one of our most attended webinars ever. In case you missed it, the Personal Property Securities Act (2009) (PPSA) requires you to think […]
Prevent being affected by phoenix activity The federal government has recently introduced a “new” hotline for anyone to report businesses that they believe are undertaking phoenix activity. This comes as a 2018 report from PricewaterhouseCoopers, funded by the government, revealed that the estimated annual cost of phoenix activity was now $5.13 billion dollars. In 2012, […]
Decipher the terminology of the Personal Properties Security Act The Personal Property Securities Act (PPSA) can be very confusing for lawyers and even more so for the average person. The PPSA is designed to allow personal property (not real estate, but goods, chattels and certain rights) to be used as security for a financial transaction. […]
CreditorWatch recently held it’s 5th annual roundtables in Melbourne and Sydney. The roundtables are not in place to sell CreditorWatch, but rather to provide an opportunity for guests to connect, learn and have valuable discussions with industry colleagues and government representatives. The events began with an introduction from Colin Porter, Founder of CreditorWatch. Colin provided the […]
Within the SME tangled web of suppliers and customers, there is a chance that some of the debtors will be family, friends or people who you have been working with for years. Most relationships are built on trust and therefore, businesses might be inclined to allow a debtor extra time to pay up if needed. […]
CREDITORWATCH | 2 MIN READ The first Small Business Risk Review for 2018 presents positive outcomes to the start of the year with a large decline in unincorporated entities and court actions across some states. Despite this, it is not all rosy as payment defaults have increased. Notable Findings In comparison to Q1 2017, New […]