Browse by:

$20k court wind-ups and 6 months to respond

Mix of my LinkedIn Articles from Sunday 22/3/2020 and Monday 23/3/2020 … BREAKING 22/3/2020: The government has just announced (in its stimulus package) an increase to the threshold at which a creditor can take action to initiate insolvency from $2,000 to $20,000 and giving companies six months instead of 21 days to respond. It probably…

Solvency is not always just liquid

A lot of people tend to focus on the liquidity ratio, when determining whether a company is solvent or not. It’s psychologically very weighty. Liquidity ratio = current assets / current liabilities But this can cloud judgment. Imagine you need to prove the company’s solvency because it is facing a court ordered wind-up, and the…

SPER registering PMSI’s

Anecdotally we are noticing an uptick in QLD State Penalties Enforcement Registry actions whereby personal property (like trucks and motor vehicles) are having security interests registered against them by SPER for relatively small debts (say less than $10k). According to SPER, their enforcement action rights include the ability to register a security interest on the…