News & Insights

The recommendations from the Government’s Review of the Insolvent Trading Safe Harbour in late 2021 are now partly implemented. How will those reforms improve the legislation?

4TH SEP 2024

Wexted Advisors have market leading expertise in the management of Safe Harbour protection. Properly implemented, Safe Harbour provides DIrectors not only with the comfort of protection from insolvent trading claims, but also provides discipline and a framework where a Board can obtain clear, transparent buy-in to decisions, better understand the implications of decisions, and improve governance.

20TH AUG 2024

Joseph Hayes recently spoke to Paul Sanger at the Finance News Network, about developments in Safe Harbour protection and recent Wexted experiences.

16TH AUG 2024

The purpose of a Voluntary Administration is to maximise the chances of a business in financial difficulty continuing or the return to impacted creditors. The process can be used to restructure the affairs of a company so that it can continue at the end of the Voluntary Administration process.

19TH JUL 2024

Sunshine Private Hospital in Melbourne’s west enters voluntary administration after 14 months of operation

18TH JUN 2024

Initiated by directors and shareholders, a Creditors' Voluntary Liquidation (CVL) offers a structured approach for winding up a company's operations, amidst financial distress.

24TH MAY 2024

Navigating financial difficulties in business may require a strategic approach to winding up company affairs. Court liquidation presents a structured pathway to offering stakeholders a resolution.

24TH MAY 2024

Brisbane based electric vehicle fast charger manufacturer Tritium has entered voluntary administration, with creditors owed more than $150m. Two significant local manufacturers in Tritium and Qenos have been placed into voluntary administration in recent weeks, a signal of current macroeconomic conditions. Wexted Advisors provides both safe harbour and formal restructuring services to clients.

7TH MAY 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.

13TH MAY 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.

2ND JUL 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

Safe harbour: 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 safe harbour 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.

2ND JUL 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.

21ST JUN 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.

13TH MAY 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