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Supporting Your Clients in Financial Distress

Published on 22 Oct 2020 | Took place at QV1 Conference Centre, Perth, WA

Financial challenges are being faced by all levels of society, from business owners to individual taxpayers. Although some businesses are thriving, a large proportion are finding themselves experiencing financial distress. Clients can often disregard the warning signs, and consequently, find themselves in a deeply challenging situation from which they must emerge.

This event examined the current state of the market and took delegates through ways that they can assist clients in developing a plan to navigate their way through this economic crisis.

Get a 20% discount when you buy all the items from this event.

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Individual sessions

Are your clients acting like Zombies?! A pandemic, insolvency and do you have a plan in place?

Author(s):  Travis Kukura,  Nirupa Manoharan

This paper covers:

  • current state of the market
  • what is a zombie company and the insolvency moratorium?
  • indicators of insolvency
  • formal insolvency appointments
  • informal/consulting appointments
  • what is your plan?
Materials from this session:

What your clients need to know: Director liabilities/DPNs/director ID numbers/creditor-defeating dispositions

Author(s):  Greg Quin

This paper covers:

  • what are director penalty notices and what debts do they apply to
  • at what point do directors become ‘of interest’ to a liquidator
  • how to transfer assets without triggering a creditor-defeating disposition
  • how directors can protect themselves from being liable
  • the impact director identification numbers will have on director obligations; and
  • common mistakes made by directors.
Materials from this session:

Banking update

Author(s):  Matt Cavanagh,  Giles Dudley

This presentation covers:

  • an insight into and update on how banks are dealing with their clients and customers during the pandemic
  • overview on financing/debt options for clients
  • the benefits of early detection of financial stress and early engagement and steps to take when liaising with the bank
  • some practical tips and guidelines for how to deal with the Banks on behalf of business clients who are in financial distress.
Materials from this session:

Do you have an asset protection strategy?

Author(s):  Travis Kukura

This paper covers:

  • accumulation of assets
  • poor finance management
  • company directorship
  • relationship breakdown
  • supplier or customer issues
  • succession/retirement
  • unexpected events.
Materials from this session:

Superannuation and bankruptcy

Author(s):  Tracey Scotchbrook

This paper covers:

  • operation of bankruptcy laws for superannuation
  • what’s protected in superannuation and what isn’t under bankruptcy laws?
  • what asset protection strategies can be used to protect superannuation from bankruptcy?
  • issues for SMSFs.
Materials from this session: