It is a standard term of a lease or terms and conditions of trade for the supply of goods or services, that a personal guarantee be provided to ensure that a business pays its debts. A personal guarantee is usually provided by the company director and can be any or Read more…
It could happen to you.
You will only discover you have been dealing with a purple fictitious character after you have provided the service/delivered the goods and not been paid.
Below is a checklist of what to do when entering into any agreements. (more…)
CAN A DIRECTOR’S CLAIM FOR UNPAID WAGES BE SET OFF AGAINST WHAT THAT DIRECTOR OWES TO THE COMPANY?
Once a company is placed into liquidation, section 556 of the Corporations Act (2001)(Cth) (Corps Act) sets out the order for payments of debts due and owing by the company.
Shareholders of a small private company usually rely on their personal relationships with each other to manage the business.
Death, disability or the bankruptcy of one of the shareholders could require a transfer of the shareholder’s stock to existing shareholders, as opposed to the deceased shareholder’s beneficiaries inheriting those shares. (more…)