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GT Advisory & Consulting work with businesses across all stages of the business cycle by developing solutions to drive business turnaround, refocus strategic direction and fine tune business performance. Drawing on our in-depth industry expertise, we develop strategies which assist businesses navigate a diverse range of commercial challenges, by: developing in-depth restructuring and turnaround plans...

With 25 September 2020 just around the corner, it is now more important than ever that business owners pause and take stock to carefully consider what the next 12 months of trading might look like for their business. In March 2020, the Federal Government introduced the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) which was designed to provide...

When determining the equity value of a company, a valuer will typically test for the existence of Surplus Assets and Liabilities held by the company. Surplus Assets are represented by any assets that are held by a business that are not core to its underlying operations and do not support the business in any way....

When undertaking a business valuation, valuers are guided by common market practice and the valuation methodologies recommended in the ASIC Regulatory Guide 111. There are a number of valuation methods which can be used to value a business and some of the more common methods include: The discounted cash flow method (Income-based Approach) The capitalisation...

In the previous article, I outlined the definition of phoenix activity. In this post, I will discuss the four key measures that were part of the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019. Schedule 1 This measure introduced new phoenix offences to prohibit the creditor-defeating dispositions of company assets prior to a liquidation. This can...

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...