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May 2020 Newsletter
This month’s newsletter features a piece on “Personal Guarantees Gone Wrong” written by Karl Hill.
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BICB Partners with AMPAC Debt Recovery
BICB and AMPAC Debt Recovery recently meet to discuss the benefits of working more closely together to build greater awareness of each other’s services throughout the building and construction supply sector. This is timely, as the broader Australian economy has been impacted on several fronts recently by drought, bushfires and now COVID-19. It is expected…
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February 2020 Newsletter
We are led to believe that the ATO will not resume recovery activity through statutory demands until early 2022.
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You can be too smart for your own good
The preferential payment provisions of the Corporations Act 2001 are one of the most powerful weapons in a liquidator’s armory.
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BICB Partners with Alares to Provide Access to Party Searches and Monitoring for most Australian Courts
Court action is a leading indicator of financial stress and future default. Alares Party Search provides real-time information on court actions across Australia. Alares Watchlist provides instant alerts for any court actions that occur involving businesses you are monitoring. From mid-May 2019 BICB members will have access to the Alares Party Search and Monitoring platform…
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Corporate Insolvency in the Building and Construction Industry – What’s Really Going On?
There has been a lot of media attention recently about the level of corporate insolvencies in the building industry. The media’s reporting on this subject could lead you to conclude that insolvency in the building industry is ‘out of control’. There is no denying that the construction industry has a disproportionately high level of insolvency…
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Members 60/90+ Debt – Sept Quarter 2018
The consolidated debt at 60/90 days for the Sep 2018 quarter was 5.66%. This was slightly lower than the Sep 2017 results. The 2017/2018 financial year average for outstanding debt at 60/90 days was 6.57%. This was a big improvement on the 2016/2017 results which averaged 7.72% for the year.
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BICB Recorded Administrator Appointments
Since last reported, (in last month’s newsletter), we have recorded 12 Administrator appointments, 9 in December and 3 in January 2019. Company (Voluntary Administration) Appointed Region Woodhill & Sons Pty Ltd 03/12/2018 NT Niveau Pty Ltd 03/12/2018 WA Calatafirmi Enterprises Pty Ltd 03/12/2018 QLD Unity Group of Companies (2009) Pty Ltd 13/12/2018 SA Multidwell Group…
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Industry Sector 60/90+ Debt
The equipment hire sector lead the field when it comes to outstanding balances at 60/90+ days, with an average of 17.3% for the three months ending 31 December 2018. The consolidated value of debt at 60/90 days at 31 December 2018 was $224,576,592 (8.7%).
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BICB Recorded Applications for Wind Up – January, 2019
Since last reported, (in last month’s newsletter), we have recorded 35 Applications for Wind-up. The ATO are listed as the Applicant in 54% of these listings. Company Applicant State Hearing Date Tierra Built Pty Ltd Eaton & Sons Pty Ltd NSW 30/01/2019 Adant Services Group Pty Ltd Powerark Solar Pty Ltd VIC 30/01/2019 Lxora Construction…
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BICB Recorded Liquidator Appointments, December 2018
