IPSO FACTO TO COME INTO EFFECT SOON!

On 28 March 2017, the Australian Federal Government released draft legislation in relation to two major reforms intended to encourage turnaround, restructuring and business rescue. The main focus in this article will be on the operation of ipso facto clauses. These clauses allow one party to a contract to terminate the agreement upon the occurrence … Continued

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WHERE IS PUBLIC TRUST?

As we, as a society, continually move forward we are increasingly being confronted with images, stories, news and examples of situations where the ordinary man/woman in the street beggars for an understanding of – How could this have occurred?   Is this really real or are we just in some big game box and one day … Continued

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Innovation through insolvency law reform: Bankruptcy period to be reduced from three years to one year.

Given that start-ups and entrepreneurs are a large contributor to new jobs and innovation in Australia, the Federal Government has taken several initiatives to foster a culture where innovation and entrepreneurship is encouraged. One of these initiatives is improved insolvency laws. As part of the National Innovation and Science Agenda, the Bankruptcy Amendment (Enterprise Incentives) Bill … Continued

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Be aware when proving Your Claim as a Creditor in an Insolvent Estate from South African Perspective?

It is interesting how the differences in insolvency law from one country to another affects creditors’ decisions when lodging their Formal Proof of Debt Form (“POD”) in an insolvent Estate. I was stunned when I received an email from one of the creditors of a Bankruptcy refusing to provide me with his POD, he was … Continued

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Welcome to 2018, and some thoughts on R&D

Hi everyone and welcome to 2018, no doubt it will continue to be more of “different” but “normal”! 2017 essentially closed quietly notwithstanding that it’s been a year of significant change for the Insolvency profession. Whilst steps were taken to align the operations of both the Bankruptcy Act and the Corporations Law, it is still … Continued

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CLAIMING TAX DEDUCTIONS WITHOUT NEEDING A RECEIPT

As tax time approaches every year taxpayers are required to lodge their tax returns before the deadline advised by the Australian Taxation Office. While completing and lodging their tax returns, taxpayers are entitled to benefits such as tax deductions. Some deductions require the collection of receipts and other records to assist them in getting a … Continued

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