If you are a director of a company facing financial difficulties, you should get advice from a qualified insolvency practitioner as soon as possible. In certain circumstances, directors can find themselves personally liable for debts incurred by their company. It is vital to act before there can be any allegations that you allowed a company to trade while insolvent.
The Australian Securities and Investments Commission has published a useful list of the warning signs of insolvency.
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.