News & Insights

Safe Harbour law provisions is an insolvent trading defence available for directors.

10TH APR 2024

Small Business Restructuring (SBR) was introduced by the Federal Government in January 2021 amidst COVID-19 challenges and offers distressed small businesses a simplified method to restructure and reduce debts with the directors retaining control. Here are the key points you need to know.

9TH APR 2024

Independent advice is key to corporate restructuring success, says Wexted Advisors partner Andrew McCabe. Enterprise and innovation law reform in September 2017 introduced an insolvent trading defence to allow directors to maximise recoveries for stakeholders while protecting directors’ personal liability. With directors continuing to enhance their understanding of the merits of safe harbour for employees, creditors, shareholders, auditors, insurers and themselves, safe harbour will become more common in the short term as companies restructure their balance sheets.

4TH APR 2024

Wexted estimates 2,000 of the 10,500 backlog of average appointments may occur in FY24, with insolvency appointments forecast to be around 11,000, or 22% above the pre-COVID average. The balance of the 8,500 backlog, whilst softened by an increase in directors adopting small business restructuring and safe harbour protection, will continue to be unwound in FY25 where insolvency appointments may exceed 13,000. Wexted Advisors are a leading provider of safe harbour services to directors of ASX Listed and Large Corporates and offer Small Business Restructuring to companies with liabilities under $1M.

4TH APR 2024

The potential to provide the greatest good for the greatest number. Andrew McCabe and Joe Hayes of Wexted Advisors share some practical insights on the engagements they’ve conducted to date. As well as demonstrating the better outcome test in practice, they outline their typical safe harbour engagement process and list some areas of uncertainty that the upcoming independent review is likely to focus on.

4TH APR 2024

Discover how Safe Harbour provisions can shield Australian directors from insolvent trading liabilities. Learn the criteria for protection and how it benefits your business.

27TH MAR 2024

Construction insolvencies have been almost constant during the past 12 months but there is a light at the end of the tunnel. It may look bad at first glance, says Andrew McCabe, partner at insolvency practitioners Wexted Advisors, but not all insolvencies are equal.

20TH MAR 2024

A Melbourne based company which sells software to NDIS service providers has been forced into liquidation owing more than $3 million in debts.

13TH MAR 2024

ASIC data shows that 1,655 new construction industry insolvencies were reported in the 8 months to February year to date, which accounted for 28% of the 5,965 insolvencies reported. These numbers were reported after a Sydney based builder went into voluntary administration, owing an estimated 200 creditors a total of $3.8million. The original article is from the AFR and should be referenced. this is the content from theoriginal article: Home building contracted 5.2 per cent in the three months to December, making for the weakest quarter in six as bottlenecks and labour shortages slowed activity, pointing to further weakness in a sector needed to boost the country’s stock of homes and more builder failures.

12TH MAR 2024

Tigerlily Swimwear enters voluntary administration again, marking its second occurrence in four years. This article discusses the challenges faced by the iconic Australian brand and the potential paths forward in the retail industry's evolving landscape.

12TH MAR 2024

Wexted is offering Pacific Metal’s two parts separately: the Pacific Metal business based at Laverton North is being shopped to one set of buyers, while Metal Men Recycling at Pakenham is a separate auction.

5TH MAR 2024

Australia's venture capital industry crumped last year as investors stopped doing deals, and as the amount of cash injected into the tech companies has plummeted from its peak by two thirds.

5TH MAR 2024

Major construction company St Hilliers has been placed into voluntary administration, halting work on 21 multimillion-dollar development projects around Australia.

5TH MAR 2024

How will the Evergrande liquidation impact on Australian export businesses? The RBA, warns of the "sharp deterioration" in China's property sector could lead to a global slowdown, weaker commodity prices and "reduced Chinese imports of Australian goods and services"

5TH MAR 2024

RA announced the $80 million loan agreement with Pacific Equity Partners

5TH MAR 2024

Wexted Advisors support the Rebels playing group for the 2024 season kicking off on 23 February 2024, and wish Taniela Tupou. Lukhan Salakaia-Loto, Matt Proctor, Jack Maunder, Carter Gordon, Andrew Kellaway, Matt Philip, Rob Leota, Pone Fa'aumasili, Jordan Uelese and all players in the 2024 Super Rugby season.

5TH MAR 2024

PUB BOOM POURS $127M BONANZA INTO PUB INVEST POCKETS AS CROWN HOTEL IN SURRY HILLS TRADES

13TH MAR 2024

ARE THE CAUSES OF BUSINESS FAILURE SIMPLE OR COMPLEX?

5TH MAR 2024