The High Court of Australia ruled that Michael Christodoulou King, former CEO and executive director of MFS Ltd was an “officer” of MFS Investment Management Pty Ltd (MFSIM). Because he remained an officer, Mr King was responsible for the acts of the subsidiaries, including the financial collapse that resulted to billions of investor losses. Background …
High Court Holds Ex-CEO Responsible for MFS Financial Collapse Read More »
How many times have you heard the old saying, “Better to be safe than sorry”? What about “Prepare for the worst and hope for the best”? These sayings have become so ubiquitous because they’re great advice, especially when it comes to protecting your commercial interests. So, how exactly can you “prepare for the worst and …
Once a party has been awarded judgment against a debtor, the next challenge is finding the most effective way to enforce payment of it. In this article, we focus on enforcement of judgment through bankruptcy proceedings. Initiating the Process for Bankruptcy To initiate the process, a bankruptcy notice must be prepared and lodged with AFSA …
Enforcement of Judgments – Bankruptcy: What You Need to Know Read More »
A challenge facing most businesses is ensuring that their client invoices are paid on time. Prudent payment is important for preventing a company’s cashflow from being negatively impacted. Despite internal debt collection efforts, some clients may still refuse to pay their overdue invoices. When this happens, continuing to invest resources into internal debt collection may …
