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:
- insolvent trading
- directors’ personal guarantees
- bailiff–sheriff debts
- 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.
Are you or your company facing an uncertain financial future? David Clout leads a team of highly regarded experts in insolvency. They are experienced negotiators and strategic thinkers. David is a registered Liquidator and Bankruptcy Trustee, he is qualified to accept a range of insolvency appointments. Call +61 7 3129 3316 to arrange a consultation.