Personal or director guarantees are commonplace in many commercial contracts. Common transactions that will generally require a personal guarantee include: any business purchase; commercial leases; loans; or trading terms and credit applications. In such instances the personal guarantee will generally be from one or all the directors of the company. What is a Charging Clause?…

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The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (the Act) received royal assent on 17 February 2020 enacting new laws in relation to illegal phoenix activities, with the most notable change being director’s liabilities in relation to Goods and Services Tax (GST). The aim of this new legislation is to hold accountable company directors…

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