Corporations Act Archives

Managing solvency amid the COVID-19 crisis

Posted By Kate Landells and Paul Welling on 24/03/20

COVID-19’s impact on business has been, and will continue to be, significant and in some cases, catastrophic. There are myriad issues that directors are juggling as a consequence of the current crisis. Critically, one of those issues is a company’s solvency. In this article we highlight the warning signs of insolvency and the changes that … Read more

Kleenmaid shadow director taken to the cleaners

Corporate & Commercial

Posted By Bridget Hobbs and Darrell Choong on 5/03/20

On 7 February 2020, Kleenmaid’s former director and founder, Andrew Eric Young was found guilty of 19 charges arising out of Kleenmaid’s collapse. This prosecution is significant as it marks the first time a shadow director has been convicted and sentenced to prison for insolvent trading. What happened? In April 2009, administrators were appointed to the … Read more