Anti-Phoenix Decision

In a report commissioned by the Fair Work Ombudsman in June 2012 titled “Phoenix Activity – Sizing the problem and matching solutions”, the following definition of phoenix activity was developed in consultation with stakeholders

Pre-insolvency advisers and intangible assets – Muddy Waters

Pre-insolvency advisors have not always had the best press in Australia: Registered insolvency practitioners (i.e., liquidators and voluntary administrators) are usually not interested in giving pre-insolvency advice: If they advise pre-insolvency, they will lack the required independence for a lucrative formal insolvency appointment.

SBRP – Small Business Restructuring Practitioner

The Australian Government has announced the reforms introducing a new debt restructuring and simplified liquidation process for small businesses. These reforms are aimed at providing small businesses with the assistance to survive, or where a restructure is not possible, to maximise returns to creditors and employees by reducing the complexity, time and costs involved in liquidating a company.