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Just as 2020 is coming to an end, so is the insolvent trading moratorium.  It is vital that businesses do a health check and take corrective action if needed.

The temporary COVID-19 Safe Harbour changes to Corporations Act came into effect on 25 March this year and directors could retrospectively be personally liable for insolvent trading from that point.  By being pro-active and recognising the signs you can get ahead of any possible issues and achieve a positive outcome. 

Business recovery and liquidation specialists recognise and understand these signs and are able to steer you in the right direction and layout the options to mitigate risk and prevent action being taken.

Getting ahead of the problems could mean the difference between turning your business around or going into liquidation.

Contact us if you answer ‘YES’ to any of the following signs.

  • Poor or no cashflow
  • Unable to obtain finance
  • Overdue bills
  • Unable to pay staff wages or super
  • Books and records not up to date
  • Unable to maintain premises
  • Writing off bad debts
  • High turnover of staff
  • Internal management disputes
  • Clients leaving