In these times it is important to have someone in your corner, to ensure you are best positioned to make it to the other side of this pandemic. If you are uncertain about the future, it is best to talk to an expert early – don’t wait for it to get bad before you act. Call to speak to one of our Directors to find out where you stand. We’ve got your back.
Restructuring Your Workforce and Reducing Labour Costs
Many employers need to reduce their workforce – and do so quickly before cash flow dries up.
For advice regarding these types of questions call Ben Schefe Ph 07 3233 9923
• Can I stand down employees under section 524 of the Fair Work Act?
• Can I convert full time employees to part time?
• Can I terminate some employees if work dries up?
• What would redundancy payouts cost me?
• What is my liability where employees are working from home?
Inexpensive Debt Recovery Options
Maintaining cash flow is critical – it can be the difference between bankruptcy and survival.
For advice regarding quick and inexpensive ways to recover unpaid invoices call John Warlow Ph 3002 7419 or Ian Neil Ph 07 3233 9911
• Letters of demand
• Statutory Demands
• QCAT Minor Debt Claims
• Construction industry Payment Claims
• Construction industry Adjudication Applications
• Dispute resolution mediations
Bank Offers/Initiatives – Bank Negotiations – Repayment Extensions
Most banks are offering some type of extension or deferred payment plan. Getting the maximum possible extension can often hinge on a carefully crafted submission which ‘presses the right buttons’.
Our team are across the initiatives offered by most major banks and can assist you to negotiate the maximum deferment. For advice contact Nathan Hardman Ph 07 3233 9910
But if the worst happens, and the bank issues a default notice, we can help negotiate a payment plan and ‘push back’ just enough to gain some time while your cash flow improves. You may have options under the credit legislation and Banking Code of Conduct which can be used to stand up to the bank while your business improves.
Rent Relief –Landlord Negotiations
For many businesses, rent is a major expense. If making the monthly rent payment becomes a battle, we can help you negotiate a reduction or payment plan with the landlord. We can also advise on your rights against the landlord.
For more advice, contact our accredited property specialist Stephen Gibson Ph 07 3478 5217
Take comfort from the fact the landlord can’t eject you overnight. Protections for tenants exist under various pieces of legislation such as the Property Law Act and Retail Shop Leases Act. There may also be provisions in your lease which the landlord must comply with before it can enforce the lease.
We can help you stand up to the landlord if needed to enable a rent reduction or payment plan to be negotiated.
Liquidation, Bankruptcy and Asset Protection
We hope and pray all our clients will make it through these difficult times. But if it looks like your business might not be able to pull through – or if you would like advice on what would happen in the event of bankruptcy – we ‘ve got your back.
John Warlow has a depth of experience in liquidation and bankruptcy matters. John can also provide invaluable advice on asset protection and asset structuring. For advice on the following types of matters phone John on 3002 7419.
• My business can’t pay its bills – what are my options?
• What happens if my company goes into liquidation?
• What is my personal exposure for insolvent trading if I keep trading?
• How can I avoid personal bankruptcy if my company fails?
• How can I protect my personal assets?
• What is the difference between liquidation and administration – which is best?
• Who is the best liquidator to appoint?
Covid-19 Termination Clauses – new contracts may need an escape clause if you can’t settle
We have already seen several clients taking advantage of the Government stimulus packages to purchase new businesses and enter contracts to purchase new equipment. Some opportunities may also arise in the property market.
But once you sign a contract, you may not be able to get out, and might be sued for damages if you can’t settle on the due date. In these uncertain times, things might change between signing a contract and the date for settlement.
As a result, it could be wise to have a clause which enables you to terminate if you are unable to settle, or if business conditions deteriorate below your comfort level. For advice regarding such clauses contact either Andrew Taylor Ph 07 3233 9904 or Andrew Pye Ph 07 3002 7428.
Wills and Powers of Attorney
If Covid-19 has prompted you to stop putting off making a Will – or update your Will – then give Jon McCarthy Ph 07 3370 5113 or Bruce Durie ph 07 3370 5100 a call. Both Jon and Bruce have a depth of experience in Wills and estate planning.
Jon and Bruce can also advise regarding Powers of Attorney. A Power of Attorney can enable a trusted relative or friend to manage your affairs in the event you are unable to do so.