An Overview of Directors’ Duties Directors and officers of companies are subject to a number of statutory and general law obligations, including: Care and diligence: to exercise their powers and discharge their duties with due care, skill and diligence; Good faith and proper purpose: to act in good faith in the best interests of the...
What is the definition of phoenix activity? Unfortunately, there is no one agreed upon definition of phoenix activity. The ATO defines it as when a new company is created to continue the business of the old company that has been deliberately liquidated to avoid paying its debts. ASIC defines it as when company directors transfer...
It is with great pleasure that we welcome Christine Stead as a Senior Manager within the GT Advisory & Consulting team. Christine brings to the team more than 12 years of invaluable experience in the insolvency and restructuring industry, having worked on both corporate and personal engagements across a varying range of industries including property, management rights, retail, and...
An Overview of Voluntary Administration Section 435A of the Corporations Act 2001 (Cth) (“the Act”) states that the objects of the administration provisions of the Act are to provide for the business, property and affairs of an insolvent company to be administered in a way that: Maximises the chance of the company, or as much as possible...
A De Facto Director (commonly referred to as a “Shadow Director”), is a person who is not validly appointed as a director of a company but is a person who the appointed directors of the company are accustomed to following instructions from. The Corporations Act 2001 (Cth) (“the Act“) defines a De Facto Director as: a person who...
GT Advisory & Consulting was founded by our Principal Glenn Thomas O’Kearney in August 2016, and since then he has set about growing the practice progressively by engaging skilled and likeminded people. We are very proud and excited to introduce the GT Advisory & Consulting team. Meet the GT Advisory & Consulting team and check...
A very beneficial couple of days spent by our principal Glenn Thomas O’Kearney at the 2019 ARITA SMP conference on Hamilton Island. A great range of excellent speakers providing topical and useful insights into the current state of the insolvency and restructuring profession. Thanks to the sponsors and to ARITA for organising such a great...
Exciting times for GT Advisory & Consulting with the recent move into our new Bundall premises and the welcoming of a number of valuable and skilled additions to the GT Advisory Team. Thank you to all our valued clients and referrers for the support and trust shown since our launch in mid-2016. Looking forward to...
GT Advisory & Consulting, a specialist advisory firm based on the Gold Coast, Queensland, commenced this week. GT Advisory & Consulting are a results focused firm, delivering commercial and practical solutions in the areas of insolvency, restructuring and turnaround. GT Advisory & Consulting bring the experience and professionalism of top tier restructuring firms, and combine that...