Commercial Law

Receivership

For those who have run a business, the terms receivership, administration, bankruptcy and liquidation are used widely to describe businesses that is in trouble. While these are all related to a certain degree, they are all different situations, that can result in different outcomes for business. In this article, we will discuss what it means…

Commercial Law

Business Insolvency – QLD

One of the harsh realities of starting your own company is that it may not survive. In fact, the Small Business Association (SBA) believes that approximately 30% of new businesses fail during the first two years of being open and 50% during the first five years. If a company is unable to pay its debts as…

Commercial Law

Bankruptcy Notice – QLD

Insolvency or bankruptcy – what are your options? Should you find yourself in a position where you cannot repay your debts, you may have some options to weigh up to determine the best way forward. This could include declaring bankruptcy or insolvency, however, the first step in taking control of the situation is to ask…