This is the number 1 question that we are asked by clients.
In the 10 plus years that I have been involved in the insolvency industry – I think I have seen 1 x insolvent trading claim go through to completion and a Director being charged for insolvent trading.
In reality – Insolvent Trading is a very complicated and costly action for a Liquidator to pursue. There needs to be strong evidence of insolvent trading, and a good commercial reason to pursue this course of action. Most insolvent trading claims are settled due to the complexities involved.
Whilst no-one wants to have the fear of this happening to them – the best course of action is to get on the front foot early – get some advice around your company, and if you believe the company insolvent, take action quickly.
More information? To find out more, give us a call on 1300 023 782 or email team@cdrta.com.au.
The team at C&D Restructure and Taxation Advisory are here to help. As part of the Vault Group we can offer the full suite of financial products and advice to help you navigate the business landscape. Schedule a meeting here via Calendly or give us a call on 1300 1 VAULT (1300 182 858)
Craig Dangar
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