News & Insights

Wallaby Legend and Wexted Advisor Simon Poidevin played 59 Tests for Australia, captaining his country four times. He is a feature writer for the AFR, and as a Grand Slam winner in 1984, is uniquely placed comment on the 2024 Spring Tour and the Wallaby ambitions to repeat the triumph of the 1984 Grand Slam team.

20TH NOV 2024

During the US Presidential Election, we have been witness to a lot of ‘speeches’ by both candidates, some of which have been good, some bad, some self-serving, some frankly patronising and offensive.

4TH NOV 2024

At Wexted, we’re fortunate to be able to show our support and share our expertise across an extensive range of restructuring and insolvency bodies and networks. Here’s a quick update on what we’ve been up to and what peaked our interest.

4TH NOV 2024

Joe Hayes of Wexted, together with Josh Cairns, Orla McCoy and Scott Abel participated in a panel at the Banking and Financial Services Law Association conference on the Gold Coast in September, focussed on distressed workouts and the collective Australian and New Zealand approaches to managing insolvent trading and wrongful trading risks.

4TH NOV 2024

Wexted Advisors Small Business Restructuring Product continues to grow, led by Jessie Wang.

4TH NOV 2024

What characteristics should a potential appointee consider, where a company is insolvent and needs to appoint an Administrator, but appointees are having difficulties determining the risk.

4TH NOV 2024

The recent decision in Commission of State Revenue and Andrew McCabe and Ors is a timely reminder of the objectives of Part 5.7 of the Corporations Act 2001 and the termination of DOCA’s on the grounds of public interest.

4TH NOV 2024

Wexted Advisors analyst Ben Sugars topped off a great season for Randwick Rugby Club with his selection this year in the NSW Waratahs Super Rugby Pacific squad.

4TH NOV 2024

The recommendations from the Government’s Review of the Insolvent Trading Safe Harbour in late 2021 are – finally - now partly implemented. Safe Harbour is getting regular use, and gets a tick of approval, with refinement needed. But what exactly has happened, and how will reforms improve the legislation?

28TH OCT 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.

30TH OCT 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