CRUNCH! Issue 2

May 2011

As most of you may know, implementation of the Personal Properties Securities Reform (“PPSR”) is nigh! (Although its start date has been postponed until 11 October 2011).

The PPSR will see a complete overhaul of the process for securing finance in Australia. It aims to make it easier for businesses to use assets to obtain finance, whilst promoting micro and SME credit, through clearer rules for protecting and enforcing secured interests in property.

However, as you read through this newsletter, it will become apparent that the regime may have its complexities and will provide new challenges to the insolvency industry.

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CRUNCH! Issue 1

May 2010

Welcome to Crunch! It's taken us a while to come up with the name that fitted the bill; finally we decided on 'Crunch' as it has many meanings.  What we were after was a word that was pliable to SV Partners predominate line of work and the urgency with which we need to tend to business at times.

It is now 'crunch' time for a few of our assignments and had some of these businesses set up good accounting and financial management practices from the start, they may be in a very different trading position today

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PHOENIX ACTIVITY

March 2010

Similar to the mythical creature (the Phoenix is re-born by recreating itself through fire and 'rising from the ashes'), a general interpretation of 'phoenix activity' involves a director who has transferred assets from a company that is facing or nearing insolvency to a new risen 'phoenix' company.

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