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Changes to insolvency law: What directors and business owners need to know
The Coronavirus Economic Response Package Omnibus Act 2020 (the CERP Act) put in place a range of debt relief measures designed to help businesses survive the economic fallout of COVID-19 lockdowns and border closures without the usual penalties that come from insolvent trading. Two major measures were around extending the ‘safe harbour’ regime and changes […]
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Being Declared Bankrupt – What You Need to Know
One of the possibilities of coming into financial strife is that a person may have to deal with bankruptcy. Bankruptcy can have long term adverse effects on a person’s credit rating and ability to borrow money in the future. As such, it is crucial to be informed about bankruptcy and its effects. What is bankruptcy? […]
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Are you a director of an insolvent company?
Our September edition of our newsletter features some topical articles regarding Testamentary Trusts, Directors Duties & Conveyancing Traps, plus some new and exciting developments for our office!
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Are you a director of an insolvent company?
During difficult economic conditions, it is important that all directors revisit their duties as directors and are aware of how the board should deal with the situation where a company is in financial difficulty and may be insolvent. What is insolvency? A company is deemed to be insolvent when it cannot pay its debts as […]
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