What to Do If a Creditor Threatens Bankruptcy
What to Do If a Creditor Threatens Bankruptcy Here’s something that might shock you: creditors can push you into bankruptcy over a $10,000 debt. The court can declare you bankrupt even if you’re not there to defend yourself. Many people don’t take bankruptcy...
An Australian’s Guide to Priority of Payments in Liquidation
An Australian’s Guide to Priority of Payments in Liquidation When a company enters liquidation, who gets paid (and in what order) can make all the difference. In Australia, the priority of payments is governed by strict rules under Section 556 of the Corporations Act...
Restructuring Meaning in Business
In 2021, the Australian Government made changes to the country’s insolvency framework to better serve small businesses, making it easier for them to bounce back from financial challenges As part of these changes, the Government introduced a new, simplified debt...
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