“If you’re flogging a dead horse, make sure you’re not riding it.” (Josh Stern) Creditors and company directors alike need to know how best to deal with a company in financial distress.…
“Diplomats operate through deadlock, which is the way by which two sides can test each other’s determination.” (Henry Kissinger) Running a business with a partner can work brilliantly – until it doesn’t.…
“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses…
“Creditors have better memories than debtors” (Benjamin Franklin) In these hard times of pandemic and economically destructive unrest, an unfortunate number of businesses face collapse, and many will opt for the “first…
“Bankruptcy – a fate worse than debt” (Anon) One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and to take robust action to recover any…
“The purpose of the legislature in enacting s 34(1) is to protect creditors by preventing traders who are in financial difficulty from disposing of their business assets to third parties who are…
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