Canberra announces huge reforms to insolvency laws – here’s what we expect

By William Buck on 24/09/20 - Mins to read: < 1 minute

Canberra has announced the most significant reforms to insolvency laws in decades, applicable for companies with debts below $1 million. While the finer details are yet to be confirmed, the proposal to introduce a debtor in possession model from 1 January 2021 which will be available to directors once every...
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William Buck Restructuring & Insolvency completes sale of MyHouse retail business

By William Buck on 24/09/20 - Mins to read: < 1 minute

Michael Brereton and Sean Wengel, the administrators of MyHouse, have successfully completed the sale of the MyHouse retail business to Global Retail Brands Australia Pty Ltd. After a lengthy sale process, exacerbated by the difficult retail environment, William Buck has completed the sale of the MyHouse retail business comprising 23...
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Urgent expressions of interest | MyHouse

By William Buck on 24/09/20 - Mins to read: < 1 minute

MyHouse (Aust) Pty Limited (Administrators Appointed) "MyHouse" Michael Brereton and Sean Wengel as administrators of MyHouse seek urgent expressions of interest in MyHouse’s business through: The acquisition of the business and assets or The recapitalisation by way of a Deed of Company Arrangement MyHouse have been creating quality bedding and...
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Insolvent Trading: the consequences for directors

By William Buck on 24/09/20 - Mins to read: < 1 minute

It is widely considered that Australia’s insolvent trading laws are draconian compared to many of our major trading partners. Historically the insolvent trading laws were merely a theoretical concern for directors, due to lack of enforcement and lack of funding for liquidators to pursue directors who may have breached these...
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When is a trustee’s work done? A registered trustee’s perspective

By Sean Wengel on 24/09/20 - Mins to read: < 1 minute

This article was originally published in the Australian Financial Security Authority PIR Newsletter on 4 December, 2019 (Volume 17, Issue 4). Registered trustee Sean Wengel of William Buck shares his perspectives on the powers and obligations of trustees well after a regulated debtor is discharged from bankruptcy. A trustee might...
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