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As part of an ongoing webinar discussion series, the CFO Centre and Nexus Law Group discuss the options available to a company negatively impacted by COVID, lockdowns and a substantial drop in revenue.
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As part of an ongoing webinar discussion series, the CFO Centre and Nexus Law Group discuss key economic, financial and legal issues impacting Australian SMEs. In this episode, the CFO Centre’s CEO David King, NSW Regional Director Paul Gunson and Nexus Corporate & Commercial specialist Group Principal Colin Miller discuss current client business sentiment and structuring options available for SMEs in this new post Job Keeper economic environment.
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"It is important directors identify potential solvency issues and engage with the appropriate avenues of support as early on as possible, if they are able to ride out the wake of these domestic and international events," said Nexus Risk & Compliance specialist Colin Miller.
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It’s time to review and update your insolvent trading clauses and practices! Historically common law came to the aid of an asset owner needing to protect materials, plant and equipment delivered to a buyer which had not yet paid in full. Recent changes to the Corporations Act 2001 (Cth) assist such buyers in receipt of unpaid assets even though the buyers are potentially insolvent.