assets you acquire after your bankruptcy starts?

What happens to assets you acquire after your bankruptcy starts?

29 Apr 2020

If you become bankrupt, your bankruptcy trustee can sell or realise any assets which you own which are divisible property. This includes things like your interest in your house, shares in public companies, your car (if valued over a certain amount) or any significant cash at bank. But often people don’t know that a bankruptcy… Read more »

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how do you go bankrupt?

How do you go bankrupt?

24 Apr 2020

Earlier this year there were changes in the way you have to go about filing for bankruptcy. These changes are supposed to simplify how you can become bankrupt and how data regarding bankruptcy is captured. So how do you go bankrupt? And what should you consider before you do?

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Success Story: property developer

Success Story: Debt settlement for a failed property developer

15 Apr 2020

Our client’s problem  We were recently referred a property developer client who had two companies which were involved in a failed property development in northern New South Wales. The companies had limited assets and they owed several hundred thousand dollars to creditors.

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GST Director Penalty Notices are here

GST Director Penalty Notices are Here

30 Mar 2020

From 1 April 2020, the ATO will be able to issue Director Penalty Notices for a company’s unpaid GST. This article summarises how GST Director Penalty Notices will apply.

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charging clauses

Charging clauses in guarantees

14 Feb 2020

Often when a business owner signs a credit application for their business, they don’t know that they are signing a personal guarantee let alone a guarantee, which has a charging clause. However, the risks and impacts of guarantees with charging clauses can be significant.

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bankruptcy assets

What assets can you keep in bankruptcy?

04 Feb 2020

If you become bankrupt, your bankruptcy trustee will be able to sell some of your assets. But there are various assets which are protected and which your trustee cannot sell. So, what assets can and can’t be sold?

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