Insolvency & Restructure

Giving Credit Where Credit is Due – How To Develop Your Credit Policy: A Step by Step “Little Bit Different” Guide

Did you know that the expression “giving credit where credit is due” can be traced back to a letter written by Samuel Adams in 1777 (that’s one of our American cousin’s Founding Fathers, not the iconic Boston beer of the same name)? It means to acknowledge some accomplishment performed by a person in circumstances [...]

Has your ex (Customer) got you in “the Funk”? A light-hearted guide to recovering from debtor breakup

In our last article, we explored what happens when you have the “Feels” for a Customer and how to avoid debtor heartbreak (check it out here). The “Funk” is that ensuing feeling you get when you realise the Customer you have supported, fought for, gone out on a limb for, and even (rarely) told [...]

Does Your Customer Give You “The Feels”? (a light hearted guide to avoiding debtor heartbreak)

OK, we’ll admit it…..Married at First Sight has been a staple diet in our office for the last couple of months (although it did seem like it would never end). A common theme (outside of selfies, Insta followers, Botox and fake body parts (trout pouts and tattooed hairlines scored well here)) was “THE FEELS”. [...]

Toil And Trouble: Assigning A Liquidator’s Cause of Action – Is It A Practical Power Or Just Fancy Wizardry?

Liquidators have a long list of powers and hold a pivotal role in the lifetime of a company – a charmed life, perhaps? The spellbook Corporations Act has always enchanted a liquidator with the ability to deal with company property, including causes of action. Abracadabra, section 477! In the Land of Oz, thanks to [...]

The Paradox of a Bad Debt – Five Fun Facts

It's that time of year (again) when you have to decide whether you should “take the hit" and write-off that bad debt and (subject to complying with ATO requirements) claim a deduction OR keep chasing the debtor. You can do both of course, but often once the debt is off the books and not [...]

Seven Simple Steps to Gear Your Business for Success in 2017

We all start the new year with the usual well-intentioned resolutions (lose weight, get fit, find love…) but after a few weeks (or, sometimes, hours) we are back to our old habits. In 2017, more than any other year, the outlook both nationally and globally is uncertain. Will the Turnbull Government’s one seat majority [...]

Credit Applications in the Name of a Trust

It is very common these days to see Companies using trading Trusts as a vehicle to run their business. So how should you open an Account for your Customer if the Credit Application has been filled out in the name of a Trust? A couple of points should be made at the outset:- A Trust is [...]

PPSA – Is Conduct Enough to Accept Changed Terms and Conditions?

Readers will be aware that section 20 of the PPSA provides for the enforceability of security interests against third parties. An issue that has arisen in practice is, what happens if your security agreement has not been signed by your Customer (i.e. the Grantor). Section 20(2) provides that for written Security Agreements, collateral is covered [...]

PPSA Short Term Leases – Serial Numbered Goods

Serial numbered goods under the Person Property Security Act ("the PPSA") include motor vehicles, aircraft and vessels. Under the PPSA, leases of serial numbered goods for more than 90 days are deemed security interests, and therefore required registration. The Personal Property Securities Amendment (Deregulatory Measures) Act, which commenced on 1 October 2015, amends the PPSA so [...]