Corporate Insolvency Is On The Rise Across Australia

With corporate insolvency on the rise the personal liability of directors to deal with the debt is becoming debilitating for business owners. The Insolvency Professionals are seeing a flow on effect of struggling small companies and directors being affected personally.

There are two flow on effects of corporate insolvency for company directors. The first is the issuing of Directors Penalty Notices. The direct correlation of taxation debt on the company and the personal liability is clear in this example. The second is financial pressure involved in dealing with company debt and creditors on directors personally injecting capital into their business.

The decisions are difficult in both situations. Many of our clients are turning to bankruptcy before their financial circumstances get out of control.

Our professionals are trained to identify the key issues in financial hardship and devise an exit strategy to stop the financial hemorrhaging.

If you need assistance, call Insolvency Professionals on 0417 629828.

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