Restructuring & Insolvency

The first few weeks of February 2021 saw the Australian Securities and Investments Commission (ASIC) disqualify three directors from managing companies, in decisions that highlight the need for directors to act diligently and assist liquidators. On 5 February, ASIC announced that it had disqualified Violetta Esposito for five years due...
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Anticipating a spate of insolvencies this year as we continue to grapple with the economic fallout of the pandemic, William Buck has created a series of videos to demonstrate how our fully integrated model can save many of these businesses. With the recent expiry of the temporary insolvency measures, and...
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Reforms to Australia’s insolvency framework have now taken effect for eligible businesses with liabilities of less than $1 million. The new legislation, which shifts Australia’s corporate insolvency regime for small business from a largely creditor-led regime to a debtor-in-possession model, is expected to slow the anticipated wave of insolvencies in...
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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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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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William Buck Restructuring & Insolvency have obtained orders from the Federal Court to extend the convening period to hold the second meeting of MyHouse (Australia) Pty Ltd (Administrators Appointed)’s creditors from 27 April to 27 May 2020. This will enable Michael Brereton and Sean Wengel, as the Administrators of MyHouse,...
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