ASIC 2017/2018 Report on Insolvencies Just Released

adminIn the Media

ASIC has just released its Report on Insolvencies for 2017/2018. 84% of insolvencies involve small companies with: 20 or fewer employees Assets of $100,000 or less 39% with liabilities less than $250,000 61% with liabilities greater than $250,000 97% of all small company liquidations result … Read More

All About Phoenix Transactions and Scams

adminIn the Media

Porsche, Range Rover and houses: How Nissan-driving Tim got caught in scam By Sarah Danckert Sydney Morning Herald Article 28 August 2018 Hit with a tax bill, locksmith Tim Batchelor thought the best thing to do was to follow a family friend’s advice and get some … Read More

Collapse of book distributor strands hundreds

adminIn the Media

Collapse of book distributor strands hundreds By Linda Morris 19 August 2018 — 5:31pm The collapse of a “stalwart” Melbourne book distributor has stranded hundreds of tiny publishers and self-published authors in the lead-up to the Christmas buying spree. Dennis Jones & Associates has been the … Read More

ASIC warns Investors not to Engage with Skyllex

stevekugelIn the Media

ASIC is warning the public not to use a website which promotes financial investments offered by ‘Skyllex’, a company incorporated in Australia. ASIC is concerned that Skyllex’s website https://skyllex.com contains false, misleading or deceptive statements in relation to financial services. The website states that ‘Our … Read More

Australia’s Insolvency Expert Tackles Identity Theft

stevekugelIn the Media

It was only a matter of time before the scourge of identity theft forced an insolvency practitioner to validate their appointment and Sydney liquidator Steve Kugel has recently been enjoying the inconveniences that flow from discovering an appointor is not who he seems. Kugel was contacted … Read More

Investigation-free Liquidations – Good Idea?

stevekugelIn the Media

The Government’s response to the Productivity Commission Inquiry into Business Set-Up, Transfer and Closure has just been released. Recommendation 15.1 (page 27) is for a simplified small liquidation process for companies with debts of less than $250,000. For such companies, the government supports: 1. A substantially … Read More