harbour

Safe harbour for directors of struggling companies

Australia’s insolvent trading laws impose harsh penalties on directors of companies that trade where there are reasonable grounds to suspect that the company is insolvent.  Criminal and civil penalties can apply personally including penalties of up to $200,000, compensation proceedings by creditors or liquidators, and where dishonesty has been involved, up to 5 years in…

property

Succession and structure

The need for greater formality and management structure Generational succession often requires a greater level of formality in the management and decision-making process.  This formality should achieve a separation of function between: Management The Board of the company, and Shareholders Often in a small or medium business, roles can merge with no clear dividing lines…

business for sale

Thinking of selling your business?

There’s potentially a lot of work to do… One of the questions we often ask our clients is, “When do you plan to sell your business?” We get all sorts of responses, ranging from, “I’ve no intention of selling it” to “We think the kids will take it over, but we’re not sure” to “I’d…