If your company is unable to pay its debts as and when they fall due, and you continue to trade, you may be personally liable for insolvent trading. This is a civil offence under the Corporations Act 2001 and can expose you to compensation claims, disqualification or even criminal charges in extreme cases.
It’s not always easy to tell when a business becomes insolvent, especially if you’re waiting on payments or trying to trade through a temporary cash shortfall. But directors have a duty to monitor their company’s financial health and act early if trouble is brewing.
Law Tram connects you with lawyers who can help you understand your obligations, assess your company’s position and take proactive steps to protect yourself and the business.
Start by completing our secure online questionnaire. This step allows you to provide essential details about your role, the company’s financial status and any legal concerns.
Law Tram’s advanced technology generates a confidential legal summary of your situation while keeping your personal and business information private.
Your confidential legal summary is shared with our network of vetted lawyers who review your case to determine how they can assist.
If a lawyer believes they can help, they will initiate a chat with you through the Law Tram platform. Your contact details remain private unless you choose to share them.
You are under no pressure to retain any lawyer unless you are confident in their ability to assist. Law Tram empowers you to make informed decisions.
Law Tram’s Debt and Bankruptcy Consultation offers a secure, efficient and supportive way to connect with expert legal help. Whether you’re unsure if your company is insolvent or concerned about your personal risk as a director, our platform helps you access tailored advice from qualified lawyers.
Start your free, confidential consultation today. Please note that Law Tram does not assist in finding legal aid lawyers. If you are seeking legal aid, visit our dedicated legal aid page for more information.
Take the first step toward resolving your debt matter with clarity and peace of mind.
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