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    What to do when your customer becomes insolvent
    2018-10-08

    It is an unfortunate reality that your business can be severely affected when one of your customers become insolvent. It can be financially crippling on your business and emotionally stressful for you. Although you cannot control the financial viability of your customers, there are a few strategies you can implement to minimise your exposure when your customer is in financial distress.

    In the beginning

    It is important at the start of a new business relationship that you implement some strategies which can minimise your exposure if your customer is insolvent:

    Filed under:
    Australia, Company & Commercial, Insolvency & Restructuring, Madgwicks, Corporations Act 2001 (Australia)
    Authors:
    Catherine Ballantyne
    Location:
    Australia
    Firm:
    Madgwicks
    Why the long face? Did the liquidator seize your horse?
    2012-09-20

    An interesting story has come out of the Olympic showjumping, with the dual silver medal winning 10 year old Belgian stallion named London, being seized as part of ongoing bankruptcy proceedings, leaving his German rider Gerco Schroeder horseless.

    Mr Schroeder is now faced with the uncertainty of whether he will be able to continue to ride the talented stallion or if he will have to find himself a new backer and a new mount.

    Filed under:
    Australia, Insolvency & Restructuring, Media & Entertainment, Madgwicks
    Authors:
    Cassie O'Bryan
    Location:
    Australia
    Firm:
    Madgwicks
    ASIC defeated and ordered to pay costs
    2014-02-13

    The recent case of Australian Securities and Investment Commission v Glenn Franklin and Ors VID1359/2013 has raised some interesting issues in respect of disclosure and the acceptance of referrals. The proceeding was ultimately unsuccessful and ASIC were ordered to pay the Defendants' costs.

    Background

    The case centred around the collapse of a large construction company which operated along the east coast. Walton Construction Pty Ltd headed operations in Victoria and New South Wales and Walton Construction (QLD) Pty Ltd headed operations in Queensland.

    Filed under:
    Australia, Insolvency & Restructuring, Litigation, Madgwicks, Conflict of interest
    Authors:
    Cassie O'Bryan
    Location:
    Australia
    Firm:
    Madgwicks
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