Debtor in Possession
With the new rules coming into operation in early 2021, it is opportune to work out if the debtor in possession structure will be appropriate for your business. The debtor in possession rules will allow a business to continue to trade, and for the owners to continue to operate the business without the limitations of […]
C&D Adapting to rapidly changing landscape
Over the next few weeks, there will be a new colour and a change of logo to the C&D presence as we continue to adapt to the changing economic landscape. The last six months have been challenging for most businesses and we have been in the same boat. Whilst missing our Yeronga home, the opportunity […]
C&D Advisory Newsletter Issue 1
Proudly debuting the first edition of C&D Restructure’s monthly newsletter. We’ll be using this newsletter to celebrate our team’s achievements, share comprehensive resources authored by our experienced consultants, and talk about important industry issues impacting our peers and clients. Newsletter Issue 1
AirBnB Hitting Rural Motels Hard
The past year has been tough for smaller operators as the impact of technology continues to increase and businesses struggle with significant fixed costs that may not be achieving a realistic return on investment. Airbnb is here to stay and traditional accommodation providers (motels and serviced apartments) are under pressure.
Present Owners Fare Better in Hospitality
For businesses that are struggling now, the prognosis is not great, and without significant change there is unlikely a panacea to the improvement of the business. It’s been no surprise that more active and present owners have been more willing and able to adapt, making for businesses that fair better through market changes or periods of decline.
The Importance of Communication in Restructure
Restructuring a business is generally a step towards the end of a period of uncertainty, creditors, stakeholders, staff and the owners are on tenterhooks, communication is generally stressed or non existent and it’s now necessary to re-engage. Often in the lead up to a restructure there has been a period of mixed communication, business owners accentuating the good often to the detriment of the bad.
Sole Trader to Company
Whether you’ve been in business for years or you’re just starting out, choosing the right structure for your business is important. It is a consideration that is not only important from the start, but as your business grows and develops.
Debt management for Directors
Debt is a normal part of doing business. Every company will have some debts that must be managed on a regular basis, and good debt management is about always being aware of the debts you have and dealing with them in a timely and structured manner.
What is a Director Penalty Notice
A Director Penalty Notice (DPN) can be issued by the ATO against company directors in order to recover unpaid debts. Company directors can be held personally liable for the outstanding tax liabilities of a business so it’s crucial to have a good understanding of your rights and obligations under this area of law.
Closing an insolvent business
If your business is unable to repay its debts, it could be insolvent. Closing a business can be a complicated and emotional time, but insolvent trading laws means directors should understand their options and make a decision as soon as possible. Seeking advice from insolvency professionals can make the process easier, help you stay fully compliant with the law throughout the process, and help you avoid unwanted surprises.