Assistance for Company Directors

Are you aware of your responsibilities as a company director?

In Australia, company directors have certain duties and responsibilities that are specified in the Corporations Act 2001.

For example, a director of a company that has traded while insolvent may be liable for the company’s debts.

If you are a director of a company facing financial difficulties, what should you do?

If you are a director of a company facing financial difficulties (for example, the company is being pursued by creditors), you should act now to seek independent advice from a qualified insolvency professional.
If you are the director of a company in difficulty, and you have received a Director’s Penalty Notice (DPN) from the Australian Taxation Office, contact us now to discuss your options.

This is especially the case if you are about to enter into a formal insolvency appointment.

We can provide advice to company directors on the following:

 

• director penalty notices

 

 

• insolvent trading
• directors’ personal guarantees
• bailiff–sheriff debts
• liquidation
• personal liability.

At David Clout & Associates, we can also advise company directors on their legal obligations under the Corporations Act.

If you are a director of a company under external administration, what should you do?

We can also act as independent and experienced advisers to company directors where the company is under external administration.