Case Study: Bayside Gate Frames Pty. Ltd. (Subject to Deed of Company Arrangement)

Case Study: Bayside Gate Frames Pty. Ltd. (Subject to Deed of Company Arrangement) trading as “Bayside Fencing Products”, “Direct Factory Outlet Concrete Sleepers, Landscaping and Building Products” and “Concrete Sleeper Retaining Walls Brisbane” ACN 146 901 706 (“the Company”) The Company commenced in 2010, initially selling gate frames. In 2016, the Company commenced re-selling concrete […]

Impacts of voidable transfers into Superannuation

The available funds of an undischarged bankrupt that are in a regulated superannuation fund as at the date of bankruptcy, are generally protected in bankruptcy and not considered to be divisible property recoverable by the Trustee pursuant to Section 116 of the Bankruptcy Act 1966 (“the Act”).   Even with the protections offered to the Debtor’s […]

Back to basics: What is a Creditors Voluntary Liquidation?

A Creditors’ Voluntary Liquidation (CVL) winds up a company that can’t pay its debts. A Registered Liquidator takes control, realises what the company owns, and pays creditors in the priority order the Corporations Act 2001 sets down. ASIC deregisters the company around three months after the Liquidation is finalised. CVL: Clearing up the Terminology Creditors […]