Former liquidator imprisoned
Many readers may take some pleasure at reading the headline, which relates to an Australian Insolvency Practitioner (“IP”) who was found guilty of extracting over AUS$2.5 million from insolvency estates.
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Being a director of a limited company means a director is not liable for the company debt. Well, that is the theory anyway. All too often at PBC we advise
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Everyone wants a pop at someone and that someone ends up being us at times. We’ve had creditors turn up with big burly men and threatening behaviour, verbal and written
Settling a Director Loan Account – A potential tax exposure?
It has become an increasing situation to discover adverse director loan accounts (”DLA”) showing on the balance sheet of companies that are in financial difficulties. All too often a director
Have you given a personal guarantee?
Perhaps an obvious question but, how many times do directors respond with something like, “I am not sure,” or “No, I do not think so.” Alternatively, a director will say