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ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CONSOLIDATION CALCULATOR Consolidate Your Debts and Save. When debts start piling up, they become a lot harder to manage and it can be quite stressful. Use our Debt Consolidation Calculator to help work out how you could combine your unsecured debts into one, affordable payment, reduce stress and get your finances back on track. PROPOSING A DEED OF COMPANY ARRANGEMENT (DOCA) Part of the voluntary administration process is proposing a Deed of Company Arrangement, or a DOCA. A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, which may be agreed to as a result of the company entering voluntary administration. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CONSOLIDATION CALCULATOR Consolidate Your Debts and Save. When debts start piling up, they become a lot harder to manage and it can be quite stressful. Use our Debt Consolidation Calculator to help work out how you could combine your unsecured debts into one, affordable payment, reduce stress and get your finances back on track. PROPOSING A DEED OF COMPANY ARRANGEMENT (DOCA) Part of the voluntary administration process is proposing a Deed of Company Arrangement, or a DOCA. A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, which may be agreed to as a result of the company entering voluntary administration. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. CONTACT - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). REPAYMENT CALCULATOR An Interest only repayment type usually does not allow any extra repayments to be made. Enter the amount in the account you wish to use to offset your interest payments. Enter the lump sum about you plan to make against the loan. Enter the year you plan to make the lump sum payment. The results from this calculator should be used as anSAFE HARBOUR
Safe harbour protection commences as soon as you, as director, begin to develop one or more courses of action that are reasonably likely to lead to a better outcome for your company than the immediate appointment of a liquidator or administrator. This is referred to as the ‘better outcome test’. RECEIVERSHIP, VOLUNTARY ADMINISTRATION AND LIQUIDATION The fundamental difference between Receivership, Voluntary Administration and Liquidation is that the Receiver is appointed by a secured creditor, such as a bank, to recover their debt only. In contrast, an Administrator of Liquidator is usually appointed by an internal party such as the directors (Administration) or shareholders(Liquidation
STEP-BY-STEP GUIDE TO THE NEW SMALL BUSINESS RESTRUCTURING STEP 2: Appointing a Small Business Restructuring Practitioner. If eligible, directors must decide to formally appoint a small business restructuring practitioner (SBRP). The practitioner’s role is to help determine whether the company should be terminated orrestructured and to
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
WHAT IS VOLUNTARY ADMINISTRATION? The main difference between Voluntary Administration and Liquidation is its purpose. The purpose of Liquidation is to wind up a company, whereas the purpose of Voluntary Administration is to assess your company’s viability, saving it or its business if possible, or providing a better return to creditors if it’s not. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
KEEP TRADING AS A SOLE TRADER IF YOU ARE BANKRUPT After years of working to build your business from the ground up, the thought of losing it all because your personal finances are dire is a nightmare. It is still possible to keep trading as a sole trader if you are bankrupt or personally insolvent. WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. HOW IS A LIQUIDATOR REMUNERATED? Insolvency Practitioners and Liquidators generally charge in one of four ways: Time-based/hourly rates. The fee is the sum of each person’s hourly rate multiplied by the number of hours they worked. Fixed Fee. The fee is normally quoted at the start of the administration, and is the total cost for the administration. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
GETTING AN ATO GENERAL INTEREST CHARGE REMISSION A General Interest Charge Remission is a reduction or cancellation of interest or penalties. A request must be lodged with the ATO, and they will decide whether to grant you the waiver or reduction in General Interest Charges. The ATO is taking steps to improve compliance and debt recovery, as well as receiving new powers to do so. 10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. HOW IS A LIQUIDATOR REMUNERATED? Insolvency Practitioners and Liquidators generally charge in one of four ways: Time-based/hourly rates. The fee is the sum of each person’s hourly rate multiplied by the number of hours they worked. Fixed Fee. The fee is normally quoted at the start of the administration, and is the total cost for the administration. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
GETTING AN ATO GENERAL INTEREST CHARGE REMISSION A General Interest Charge Remission is a reduction or cancellation of interest or penalties. A request must be lodged with the ATO, and they will decide whether to grant you the waiver or reduction in General Interest Charges. The ATO is taking steps to improve compliance and debt recovery, as well as receiving new powers to do so. 10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. CONTACT - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). CONSOLIDATION CALCULATOR Consolidate Your Debts and Save. When debts start piling up, they become a lot harder to manage and it can be quite stressful. Use our Debt Consolidation Calculator to help work out how you could combine your unsecured debts into one, affordable payment, reduce stress and get your finances back on track. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
12 INSOLVENCY WARNING SIGNS YOU NEED TO KNOW Serious Warning Signs of Insolvency. 10. Continuing Losses. If you’re continuing to make losses and your asset position is looking dire with no sign of improvement, this is a sign things are bad and insolvency could be imminent. THE LIQUIDATION PROCESS AND REASONS FOR APPOINTING A The Liquidation Process and Reasons for Appointing a Liquidator. A company begins the Voluntary Liquidation process when its owners and shareholders agree: there’s little chance of a restructure making it solvent again. Once the decision is made (often as part of the Voluntary Administration process), a liquidator is appointed to WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
KEEP TRADING AS A SOLE TRADER IF YOU ARE BANKRUPT After years of working to build your business from the ground up, the thought of losing it all because your personal finances are dire is a nightmare. It is still possible to keep trading as a sole trader if you are bankrupt or personally insolvent. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CONSOLIDATION CALCULATOR Consolidate Your Debts and Save. When debts start piling up, they become a lot harder to manage and it can be quite stressful. Use our Debt Consolidation Calculator to help work out how you could combine your unsecured debts into one, affordable payment, reduce stress and get your finances back on track. PROPOSING A DEED OF COMPANY ARRANGEMENT (DOCA) Part of the voluntary administration process is proposing a Deed of Company Arrangement, or a DOCA. A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, which may be agreed to as a result of the company entering voluntary administration. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
GETTING AN ATO GENERAL INTEREST CHARGE REMISSION A General Interest Charge Remission is a reduction or cancellation of interest or penalties. A request must be lodged with the ATO, and they will decide whether to grant you the waiver or reduction in General Interest Charges. The ATO is taking steps to improve compliance and debt recovery, as well as receiving new powers to do so. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CONSOLIDATION CALCULATOR Consolidate Your Debts and Save. When debts start piling up, they become a lot harder to manage and it can be quite stressful. Use our Debt Consolidation Calculator to help work out how you could combine your unsecured debts into one, affordable payment, reduce stress and get your finances back on track. PROPOSING A DEED OF COMPANY ARRANGEMENT (DOCA) Part of the voluntary administration process is proposing a Deed of Company Arrangement, or a DOCA. A deed of company arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, which may be agreed to as a result of the company entering voluntary administration. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
GETTING AN ATO GENERAL INTEREST CHARGE REMISSION A General Interest Charge Remission is a reduction or cancellation of interest or penalties. A request must be lodged with the ATO, and they will decide whether to grant you the waiver or reduction in General Interest Charges. The ATO is taking steps to improve compliance and debt recovery, as well as receiving new powers to do so. LIQUIDATION GOLD COAST Company Liquidation is the process of winding up your company’s business: selling its assets, investigating its affairs, recovering any legal claims and distributing the funds received to your creditors and/or shareholders. If Liquidation is the right option for you, one of our in-house Registered Liquidators will be appointed to yourcompany
BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
WHAT IS VOLUNTARY ADMINISTRATION? The main difference between Voluntary Administration and Liquidation is its purpose. The purpose of Liquidation is to wind up a company, whereas the purpose of Voluntary Administration is to assess your company’s viability, saving it or its business if possible, or providing a better return to creditors if it’s not. THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
KEEP TRADING AS A SOLE TRADER IF YOU ARE BANKRUPT After years of working to build your business from the ground up, the thought of losing it all because your personal finances are dire is a nightmare. It is still possible to keep trading as a sole trader if you are bankrupt or personally insolvent. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. HOW IS A LIQUIDATOR REMUNERATED? Insolvency Practitioners and Liquidators generally charge in one of four ways: Time-based/hourly rates. The fee is the sum of each person’s hourly rate multiplied by the number of hours they worked. Fixed Fee. The fee is normally quoted at the start of the administration, and is the total cost for the administration. THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. THE CONSEQUENCES FOR THOSE INVOLVED IN A LIQUIDATED COMPANY The Consequences for Those Involved in a Liquidated Company. If your company is being liquidated, it can be a frightening process. You will see a company you value quickly dissolve, you won’t get to see your co-workers anymore, and you will have lost your income. They're harsh enough consequences for you, but unfortunately, it can get worse. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. HOW IS A LIQUIDATOR REMUNERATED? Insolvency Practitioners and Liquidators generally charge in one of four ways: Time-based/hourly rates. The fee is the sum of each person’s hourly rate multiplied by the number of hours they worked. Fixed Fee. The fee is normally quoted at the start of the administration, and is the total cost for the administration. THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. THE CONSEQUENCES FOR THOSE INVOLVED IN A LIQUIDATED COMPANY The Consequences for Those Involved in a Liquidated Company. If your company is being liquidated, it can be a frightening process. You will see a company you value quickly dissolve, you won’t get to see your co-workers anymore, and you will have lost your income. They're harsh enough consequences for you, but unfortunately, it can get worse. CONTACT - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
12 INSOLVENCY WARNING SIGNS YOU NEED TO KNOW Serious Warning Signs of Insolvency. 10. Continuing Losses. If you’re continuing to make losses and your asset position is looking dire with no sign of improvement, this is a sign things are bad and insolvency could be imminent. THE LIQUIDATION PROCESS AND REASONS FOR APPOINTING A The Liquidation Process and Reasons for Appointing a Liquidator. A company begins the Voluntary Liquidation process when its owners and shareholders agree: there’s little chance of a restructure making it solvent again. Once the decision is made (often as part of the Voluntary Administration process), a liquidator is appointed to WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
WHAT THE DICK SMITH INSOLVENCY TEACHES US The recent Dick Smith company insolvency case provides a prime example of what can occur when business finances are inappropriately managed. Once insolvency specialists took control of Dick Smith which became unable to pay its suppliers – recording poor sales results over Christmas – they were unable to receive any financial support which resulted in their ultimate downfall. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Our Financial Debt and Personal Insolvency experts. If your personal finance situation or business is facing challenges, options like bankruptcy and formal or informal debt agreements could help. With Revive Financial, our specialists are there for you during the full journey of your decision making. We help you: Follow through to seeamazing
ABOUT US - REVIVE FINANCIAL A debt management advisor can help. Revive Financial is a team of qualified professionals who can deliver full-scale debt management services. Our staff are equipped to assist in personal and business debt management. We have a Bankruptcy Trustee and Corporate Liquidator so we can see your insolvency appointment through to completion. CREDITOR TYPES AND RANKINGS Creditor Types and Rankings. If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of just sitting on the sidelines assuming the game isover
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Liquidation can prevent legal action and the need for you to: go to court. stop a sheriff executing a writ. stop debt collectors chasing the company. 6. You can choose your Liquidator. In this stressful time you’ll want a Liquidator who’s willing to work with you to resolvethe situation.
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND 2. Liquidation. Generally, there are two types of liquidation – voluntary and involuntary. With both variations, assets are sold and the money is used for repaying creditors to pay off as much of the outstanding debt as possible. After this first step, it is followed by a dissolution of the company’s assets and finally the company isclosed.
HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
10 PERSONAL LIABILITY RISKS FOR COMPANY DIRECTORS FACING If your business is struggling, deciding what to do isn’t easy, especially if you have a small to medium business and are emotionally, as well as financially, invested. To help you make the best decision for yourself, and your company, here’s the main personal risks you could be faced with. WHAT DOES RECAPITALISATION MEAN FOR COMPANIES? Trustpilot. Recapitalisation involves a change to the company’s capital structure and it may involve the exchange of shares for bonds or vice versa. Recapitalisation is often done by companies who are in the midst of bankruptcy proceedings. Since the procedure has an immediate effect on the earnings per share, shareholders areinterested in
CONTACT - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). COMMUNITY - REVIVE FINANCIAL With the support of Sunshine Coast Rugby Union’s representative pathways, players have the opportunity to perform at trials for selection in representative teams. Revive Financial has been a proud sponsor of the Noosa Dolphins since January 2020. By sponsoring local sporting clubs, we’re supporting the Sunshine Coast community inmultiple ways.
SAFE HARBOUR
Safe harbour protection commences as soon as you, as director, begin to develop one or more courses of action that are reasonably likely to lead to a better outcome for your company than the immediate appointment of a liquidator or administrator. This is referred to as the ‘better outcome test’. BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Benefits of the Small Business Restructuring Process. The new small business restructuring process is designed to help business owners financially affected by COVID reduce business debt over an extended timeframe – and, ultimately, pull themselves out of crisis. Part of reforms that Treasurer Josh Frydenberg has labelled “the most HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? The priority for payment of proceeds in Liquidation is generally as follows: Costs and expenses of the Liquidation, including the Liquidator’s fees, Secured creditors, Employee claims, and. Unsecured creditors. Before any proceeds are paid to a creditor for their debt or claim, they will need to give the appointed Liquidatorsufficient
HOW TO STOP A GARNISHEE ORDER Use the Bankruptcy Act. Generally, if you utilise the Bankruptcy Act and enter into a Part 9 Debt Agreement, Personal Insolvency Agreement or declare Bankruptcy, the Garnishee Order will be stopped and creditors will be unable to take further legal action against you. If you also owe other unsecured debts, the Bankruptcy Act will coverthese too.
HOW IS A LIQUIDATOR REMUNERATED? Insolvency Practitioners and Liquidators generally charge in one of four ways: Time-based/hourly rates. The fee is the sum of each person’s hourly rate multiplied by the number of hours they worked. Fixed Fee. The fee is normally quoted at the start of the administration, and is the total cost for the administration. GETTING AN ATO GENERAL INTEREST CHARGE REMISSION A General Interest Charge Remission is a reduction or cancellation of interest or penalties. A request must be lodged with the ATO, and they will decide whether to grant you the waiver or reduction in General Interest Charges. The ATO is taking steps to improve compliance and debt recovery, as well as receiving new powers to do so. THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. KEEP TRADING AS A SOLE TRADER IF YOU ARE BANKRUPT After years of working to build your business from the ground up, the thought of losing it all because your personal finances are dire is a nightmare. It is still possible to keep trading as a sole trader if you are bankrupt or personally insolvent. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Bankruptcy. Declaring Bankruptcy in Australia is a way to eliminate your debt, relieve yourself of financial stress and get on with yourlife – debt free.
ABOUT US - REVIVE FINANCIAL Debt Help for Individuals. Whether you’re an individual, operate as a sole trader or have a partnership, sometimes it’s a struggle to stay on top of personal loans, credit cards, overdue tax bills andother debts.
BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Are you or a client still struggling with ATO and other debt accrued during COVID-19? If so, the good news is extended help is here. As part of the Government's COVID business recovery plan, a new small business restructuring process has been released in January of 2021, and now’s the time to determine your suitability and gain access toits benefits
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. CREDITOR TYPES AND RANKINGS If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND For all company’s operating in our unstable modern economic landscape, it is vital to understand the differences between liquidation, administration and bankruptcy – before making any financial decisions. HOW TO STOP A GARNISHEE ORDER If you’re struggling with overwhelming debt, it’s possible your creditors may seek alternate measures to get their debts repaid. One of these options is to pursue a default judgement from the courts in the form of a Garnishee Order. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Let us clear up why business liquidation is the right decision. If you're wondering if you should even bother liquidating your company, here are some very good reasons to do it. HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? Once a company goes into Liquidation, one of the key issues for its directors and creditors alike is how will the creditors be paid. This comes down to what money will be available to pay creditors and the order they will be paid in. FINANCIAL DEBT SERVICES FOR PERSONAL & BUSINESS Bankruptcy. Declaring Bankruptcy in Australia is a way to eliminate your debt, relieve yourself of financial stress and get on with yourlife – debt free.
ABOUT US - REVIVE FINANCIAL Debt Help for Individuals. Whether you’re an individual, operate as a sole trader or have a partnership, sometimes it’s a struggle to stay on top of personal loans, credit cards, overdue tax bills andother debts.
BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Are you or a client still struggling with ATO and other debt accrued during COVID-19? If so, the good news is extended help is here. As part of the Government's COVID business recovery plan, a new small business restructuring process has been released in January of 2021, and now’s the time to determine your suitability and gain access toits benefits
DEREGISTER OR LIQUIDATE When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation. CREDITOR TYPES AND RANKINGS If a company owes you money, taking an interest in its liquidation may help you secure a better financial return. The recent Australian Federal court case highlighted why it’s important for creditors to participate in the liquidation process instead of THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY, LIQUIDATION AND For all company’s operating in our unstable modern economic landscape, it is vital to understand the differences between liquidation, administration and bankruptcy – before making any financial decisions. HOW TO STOP A GARNISHEE ORDER If you’re struggling with overwhelming debt, it’s possible your creditors may seek alternate measures to get their debts repaid. One of these options is to pursue a default judgement from the courts in the form of a Garnishee Order. 7 REASONS BUSINESS LIQUIDATION IS A GOOD IDEA Let us clear up why business liquidation is the right decision. If you're wondering if you should even bother liquidating your company, here are some very good reasons to do it. HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? Once a company goes into Liquidation, one of the key issues for its directors and creditors alike is how will the creditors be paid. This comes down to what money will be available to pay creditors and the order they will be paid in. CONTACT - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). BANKRUPTCY & LIQUIDATION COSTS IN AUSTRALIA Whilst doing so, we also aim to make the costs of our services fair and reasonable, fitting to your financial capacity. The Revive Financial team includes independent, fully qualified Chartered Accountants and Registered Bankruptcy Trustees. COMMUNITY - REVIVE FINANCIAL Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). BENEFITS OF THE NEW SMALL BUSINESS RESTRUCTURING PROCESS Are you or a client still struggling with ATO and other debt accrued during COVID-19? If so, the good news is extended help is here. As part of the Government's COVID business recovery plan, a new small business restructuring process has been released in January of 2021, and now’s the time to determine your suitability and gain access toits benefits
HOW DO YOUR CREDITORS GET PAID IN COMPANY LIQUIDATION? Once a company goes into Liquidation, one of the key issues for its directors and creditors alike is how will the creditors be paid. This comes down to what money will be available to pay creditors and the order they will be paid in. HOW TO STOP A GARNISHEE ORDER If you’re struggling with overwhelming debt, it’s possible your creditors may seek alternate measures to get their debts repaid. One of these options is to pursue a default judgement from the courts in the form of a Garnishee Order. THE 7 MOST COMMON LIQUIDATION MYTHS EXPLAINED Liquidation is a formal way to wind up a registered company, usually due to having long-term financial difficulties. The Liquidation process involves selling all of your company’s assets, paying the funds received to your creditors and dissolving the business. GARNISHEE NOTICES 101: WHAT YOU NEED TO KNOW Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive SolutionsFinance Pty
HOW IS A LIQUIDATOR REMUNERATED? Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive SolutionsFinance Pty
GETTING AN ATO GENERAL INTEREST CHARGE REMISSION Tax Debt Resolved is a business name under licence to Revive Business Pty Ltd (ABN 86 624 221 781). Revive Business Pty Ltd and Revive Financial Pty Ltd is an authorised agent of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). skip to Main Content__1800 560 558
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Company liquidation is the act of winding up your business. A Liquidator will be appointed to take control of and sell your business assets and distribute the profits to your creditors.RECENT ARTICLES
THE EFFECTS OF PERSONAL INSOLVENCY ON YOUR CREDIT SCORE5th April, 2019
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6th March, 2019
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Privacy Policy | Terms of Use © 2020Â Revive Financial Revive Financial Pty Ltd (ABN 20 609 795 066) and Revive Business Pty Ltd (ABN 86 624 221 781) are authorised agents of Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). All insolvency and credit services will be provided by Revive Financial Pty Ltd, Revive Business Pty Ltd and Positive Solutions Finance Pty Ltd and their licensed representatives. Revive Financial Pty Ltd and Revive Business Pty Ltd are part of Lanyana Financial Group.
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