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6 legal articles
Directors of an Australian subsidiary can be personally liable for debts the company incurs while insolvent under Section 588G of the Corporations Act 2001. Living overseas does not change that....
Equal Liability: Foreign directors of Australian companies face the exact same personal liabilities for insolvent trading as domestic directors under the Corporations Act 2001 . The 'Better Outcome' Test: The...
If you are chasing outstanding debts from an Australian debtor, distance is your greatest risk. Australia's legal system is highly structured and creditor-friendly, but international creditors frequently miss out because...
Creditors' Voluntary Liquidation vs. Voluntary Administration in Australia When an Australian subsidiary or trading partner slides into insolvency, overseas creditors frequently make a fatal mistake: they assume the local process...
Main Purpose Contrast: Australian Voluntary Administration (VA) is a standalone, primary insolvency process designed to rescue an Australian company or transition it to liquidation. US Chapter 15 is an ancillary...
A Deed of Company Arrangement (DOCA) is faster and significantly less expensive than a Scheme of Arrangement, typically wrapping up in 6 to 10 weeks compared to 4 to 6...