The members of a solvent company may decide to wind-up the company under s491 of the Corporations Act 2001 (the Corporations Act). Continue reading
Tag Archives: insolvency and liquidation
ATO responsible for 7% of company liquidations
THE tax office is winding up and bankrupting thousands of self-employed workers and small businesses instead of restructuring their tax debts.
The Australian Taxation Office admitted it was responsible for 2 per cent of bankruptcies and 7 per cent of all company wind-ups in the last financial year. Continue reading
Director banned from managing corporations for 5 years
ASIC has disqualified property developer and shoe wholesaler Mr John Georgiadis, 49, of Mansfield Queensland from managing corporations for a maximum period of five years. Continue reading
Man convicted for managing corporation whilst disqualified
Mr Mark Geoffrey Whitehouse of Corlette, New South Wales, has been convicted in the Newcastle Local Court on one charge of managing a corporation while disqualified following an investigation by ASIC. Continue reading
Building Contractor Advisory Service – LD for Office of Fair Trading
Building Contractor Advisory Service
The Office of Fair Trading is aware of the difficulties facing builders and trade contractors during these challenging economic times. Continue reading
Credit crisis affects miners earnings estimates by up to 45%
MINING giants Rio Tinto and BHP Billiton have had their earnings estimates slashed by up to 45 per cent, as analysts downgrade forecasts because of low metal prices and softer demand. Continue reading
ASIC has the power to wind up companies – and uses that power
The Supreme Court of New South Wales has wound up a number of companies promoted by Online Super Pty Ltd (Online Super) following an application by ASIC. Continue reading
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