Paul was interviewed by the Institute of Chartered Accountants for the November edition of ‘Business in Focus’ – Dealing with Debts & Insolvency. Discussion points were:
Morgan Lane, Partner Worrells Brisbane
Morgan was interviewed by 4BC on the topic of Cockatoo Coal’s voluntary administration in Baralaba:
- The different formal administration options for an insolvent company—voluntary administration, liquidation, and receivers and managers appointment.
- The impact on employees of insolvent companies
- The Government assistance available to employees in a voluntary administration scenario
- The timing and costs applicable to corporate administrations
Ivor Worrell, Group Chairman
Ivor was interviewed by 4BC on the topic of:
1. A ex-millionaire annulled his bankruptcy $7,500, under a Section 73 Proposal
2. Ivor explains the basics behind going bankrupt
3. The principles behind this particular case and current bankruptcy laws are debated.
Paul Burness, Partner, Worrells Melbourne
What are the common elements of debt that we see at Worrells?
What lessons have you learnt in practice about protecting clients from debt issues?
Debt is necessary for almost all business, what should a client do when they see debt mounting?
Are the number of insolvent businesses increasing or decreasing at the moment?
What can a company do when they no longer pay their debts?
What are the options for a person with too much debt?
What considerations apply to dealing with a Partnership?