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The Lungitude Foundation

The Lungitude Foundation improves survival rates and outcomes for lung transplant recipients and their carers. They are proud to be making a difference as a registered Australian charity by focusing on facilitating world-class clinical and research endeavours, medical procedures, therapies and support for pre and post lung transplant patients and their carers. Clinical and research endeavours supported […]

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BEWARE THE CHRISTMAS CASHFLOW GRINCH

As we rapidly head towards the Christmas break it is a timely reminder that it can be a stressful period for two main categories of small business owners.  They are the ones that rely of the festive season retail sales to generate the bulk of their profits, whilst the other end of the spectrum are […]

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BACK TO THE FUTURE – THE ONE YEAR BANKRUPTCY!

What was old is now new, with the government finally introducing a Bill for the one year bankruptcy.  Those a little more senior in years may recall that similar legislation was previously in the Bankruptcy Act 1966 (“the Act”) before being repealed in 2003. The proposed legislation is not exactly the same as the previous […]

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SAFE HARBOUR – ACT EARLY OR BE LOST AT SEA?

The Senate has just passed Safe Harbour Law Reform in relation to insolvent trading which will come into operation after the Bill receives Royal Assent. The intention of the new legislation is to “reduce the stigma of failure associated with insolvency” and to strike a better balance between the protection of creditors and encourage honest, […]

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ACCOUNTANTS NEW DUTY: POLICING YOUR CLIENTS

There are three separate developments covered in this blog which share a common theme of regulatory change requiring better transparency and honest dealings by businesses and their advisors. A recent Federal Circuit Court decision where an external accountant was found liable as an accessory for a client underpaying wages. Changes to APES 110 which modify the […]

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Insolvency 101

Nicholas Giasoumi was invited to be a guest on the Go Money program on Joy FM. The interview provides a great introduction to Bankruptcy and Liquidation. Covering everything from how they are initiated to the ramifications of getting it wrong. Have a listen by following the link HERE.

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THE PPSR IN OFFENSE

We have previously written about the Personal Property Securities Register (‘PPSR’) as a “defensive” mechanism to protect interests where, inter alia, assets are provided and/or credit is extended.  However, there are many complexities that can render a registration ineffective.  In a recent decision a PPSR registration of a security interest over the corporate trustee of a trust […]

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