3 essential actions to take before safe harbour closes on 31 December 2020

It’s been a hard year for businesses big and small, across sectors.

ASIC warned that the challenges of COVID-19 would require recalibrating aspects of corporate strategy, risk-management framework, and funding and capital management strategy – among other things.

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Mackey Goodwin collaborates with Westpac, SMBC and Soc Gen on transition of Forum Group

-Mackay Goodwin Retains Forum Group Pty Ltd Pending Sale Announcement- Leading restructuring and insolvency firm Mackay Goodwin has recommended Westpac’s nominee McGrath Nicol replace it as the administrator for 24 companies in the Forum Group for operational efficiency, ensuring all Forum Group businesses are managed under a single administrator for the benefit of creditors. Westpac… Continue reading Mackey Goodwin collaborates with Westpac, SMBC and Soc Gen on transition of Forum Group

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Mackay Goodwin adjourns Forum Group creditors’ meeting for 24 hours

Forum Group Statement – 20th July 2021 Leading restructuring and insolvency firm Mackay Goodwin adjourned the Forum Group’s First Creditors’ Meeting for 24 hours under the provisions of the Corporations Act. Mackay Goodwin was appointed on 8 July 2021 as Voluntary Administrator for the Forum Group of Companies. One of the Voluntary Administrators and Chairman of… Continue reading Mackay Goodwin adjourns Forum Group creditors’ meeting for 24 hours

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Mackay Goodwin appointed as voluntary administrators for Forum Group

Forum Group Statement – 13th July 2021 Leading restructuring and insolvency firm Mackay Goodwin confirms it has been appointed as Voluntary Administrator over the Forum Group of companies on 8 July, 2021. Since 9 July, the Administrator has been undertaking investigations across the Group. These investigations are ongoing. The Administrator has been reviewing Forum Group’s position,… Continue reading Mackay Goodwin appointed as voluntary administrators for Forum Group

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Debt Management Tips for Company Directors

Debt is a normal part of doing business. Every company will have some debts that must be managed on a regular basis, and good debt management is about always being aware of the debts you have and dealing with them in a timely and structured manner.

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What is Voluntary Administration?

Voluntary administration is the process whereby a business in financial distress is assessed by an independent administrator to determine the best financial resolution for that company. The administrator could be appointed by the company directors, the creditors of a company, or by the court.

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How to Conduct a Successful Business Restructure

Changing market conditions, shifting consumer trends, and increased competition can all impact your business’s operating environment and make restructuring necessary.

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10 Steps to Getting Your Business Out of Debt

Changing market conditions, shifting consumer trends, and increased competition can all impact your business’s operating environment and make restructuring necessary.

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What is Business Liquidation?

When a business gets into trouble, it has a number of insolvency options. Whether you’re an advisor to a business in financial strife or you’re in charge of such a …

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Understanding the Difference Between Liquidation and Bankruptcy

Bankruptcy and liquidation are often confused and used interchangeably, but these two terms are actually very different. While both could involve insolvency – the inability to meet debt obligations – …

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Starting the New Year with a Clean Financial Slate

As the new year begins, you may have enjoyed good rest over the festive period. And just as it’s important to start fresh personally, it’s also important to refresh your …

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5 Reasons to Consider Voluntary Administration

Voluntary administration is a type of insolvency process for companies in financial strife. It’s designed to help companies, with the help of an external, independent expert, to resolve their insolvency …

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How to Avoid Company Bankruptcy or Liquidation

Sometimes, a company bankruptcy or liquidation is simply inevitable. Perhaps the company had a product that exploded in popularity, only to prove to be a fad, and it struggled to …

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Mackay Goodwin Announces New Advisory Department

We are thrilled to announce the latest addition of corporate advisory to Mackay Goodwin. The expansion into corporate advisory offers services to grow client’s businesses. The pandemic shed light on …

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ICT capabilities in strong demand within government despite pandemic

By Michael Bogue, Joint Head of Advisory at Mackay Goodwin While many businesses have suffered through 2020/21 because of the pandemic, the ICT industry is going through a growth phase …

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10 Signs Your Business Needs to be Restructured

Hundreds of Aussie companies collapse every year, and most businesses end up in liquidation rather than returning to trading. With disruptive forces like technology and competitive market conditions, companies can …

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10 Signs Your Business Needs a Corporate Advisor

Business always involves risks, and success requires vision, entrepreneurial instincts and some luck. Often, the risk taken does not provide the expected reward, and this is when you may need …

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How Could Personal Insolvency Impact your Business?

Businesses are launched with the best intentions, but even the most astute plans can be undone by changes in the business environment or competitive landscape, consumer tastes, rising costs, or …

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Restructuring Adviser Praises Travel Business And Calls For Struggling Tourism Operators To Seek Help Before JobKeeper Ends

One of Australia’s leading restructuring advisers, Mackay Goodwin, is urging struggling travel and tourism operators to urgently seek financial advice before the Government winds back JobKeeper payments at the end …

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9 Tips for Managing Business Tax Debt

Fulfilling tax obligations ranks at the top of business compliance priorities, but it’s not always easy to keep on top of your business tax. Business tax debt has serious implications …

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The Benefits of Debt Financing for Your Business

Running your own business might seem like a dream come true, however there’s no doubt it comes with major challenges. Finding customers, managing staff, ensuring compliance, dealing with competition, managing …

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A Guide to Business Insolvency

Owning your own business can be exciting, however it’s also filled with the prospect of making challenging decisions every day. Faced with survive-or-perish choices, business owners need to think for …

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Understanding the Difference Between Good Debt and Bad Debt

Not all debt is bad, and understanding the difference between good and bad debt could enable you to make smarter decisions about how to grow your business. Recognising the impact …

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5 Signs Your Business is in Financial Trouble

Business can be a funny beast at times. It might seem like everything is going swimmingly one month, only for the doors to come down the next. One thing that …

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The Accountant’s Guide to Working with a Voluntary Administrator

Voluntary administration is an insolvency procedure that brings in an external voluntary administrator to decide on the company’s next steps. Unlike liquidation, external voluntary administration won’t necessarily result in the company being wound down.

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Why You Need a Budget for Your Business

You need a budget for your business. It doesn’t actually matter what size your business is – whether it’s a sole proprietor right through to a large corporation, if you’re looking to make your business a sustainable success, the budget will be the cornerstone of what you do.

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How will a business health check change the direction of your business?

If you’re in survival mode right now, you’re not alone. Thousands of Australian businesses are being tested by the fallout from COVID-19. But no business director can afford to neglect …

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