Start-ups that are most in need of government safe harbour laws to protect directors of struggling companies from bankruptcy liabilities, are failing to take up the option, locked out thanks to high advisory costs and tax debts.
The laws, which were introduced almost a year ago, are designed to protect directors of a company from being personally liable for insolvent trading and was partly based on the US Chapter 11 bankruptcy provisions.
Head of commercial disputes and partner at legal firm Bartier Perry Gavin Stuart told The Australian Financial Review the intent of the laws have always been welcomed, but in practice small companies were finding the safe harbour too hard to access.
“The reality is that we’re seeing a prett…
Read the full article at: https://www.afr.com/technology/a-pretty-empty-harbour-startups-not-accessing-director-safe-harbour-bankruptcy-laws-20180831-h14s2z
Do you know the address of your companys registered office?
You should know it might not be the same as your principal place of business.
Understanding the difference between the two could save immense stress, legal costs and your company.
The address of a companys registered office is the place where documents can be effectively served. This means, if a supplier, employee or customer wanted to commence legal action, they would be correct in posting their legal notices to a registered office address.
Say you are a director of a manufacturing company. Your principal place of business is 1 Fake Street, but the address for the companys registered office is your personal residence, 3 Cosey Avenue. One day you decide to relocate.
Several month…
Read the full article at: https://www.theherald.com.au/news/local-news/5622010/office-details-a-trap-for-many/
A small Melbourne-based Internet services provider Telecube has gone into liquidation with effect from 29 August and has asked its NBN clients to obtain a connection elsewhere.
In an email sent to users, Telecube said: “The purpose of this letter is to inform you that Telecube will no longer be offering NBN services from 4th September 2018, after that date the NBN services are in danger of being disconnected.
“Please act promptly and arrange for a new provider as soon as possible.”
The chief executive of Tasmania-based ISP Launtel, Damian Ivereigh, had warned a few days ago that smaller RSPs who were selling NBN connections could be forced out of business from October onwards.
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Ivereig…
Read the full article at: https://www.itwire.com/telecoms-and-nbn/84286-melbourne-isp-telecube-goes-into-liquidation.html
The
88th Geneva International Motor Show
Thomson Reuters
(Reuters) – U.S. automaker Ford Motor Co plans to drop production
of some of its automobile models as part of a planned operational
restructuring announced earlier this year, sources told The
Times.
The British newspaper reported that Ford planned to end
production of Mondeo, Galaxy and S-Max models and focus on more
lucrative sport utility vehicles. Ford also plans to cut its
number of dealerships, the Times said.
In July, Ford’s chief executive officer, Jim Hackett, said the
company planned to spend around $11 billion on a restructuring of
its European business.
Ford lost $73 mil…
Read the full article at: http://uk.businessinsider.com/r-ford-to-cut-car-models-as-part-of-restructuring-the-times-2018-9
Cohorts of young Australians have been told they have to study longer, work harder, eschew avocado and marry better if they want the chance to buy a home of their own.
Nearly 2.5 million people owed the Australian government almost $49 billion in HELP debts in 2015-16. The average student debt in 2016-17 had risen to $19,100, and took almost nine years to repay.
But in the US, where fees are less regulated and student debt is approaching $1.5 trillion, some students are being “offered” a new college fee financing technique known as “income sharing”…
Read the full article at: http://www.abc.net.au/news/2018-09-03/solving-the-student-debt-crisis-with-the-human-stock-exchange/10167910