Monthly Archives

March 2019

Presenter Doung Contable on Phoenixing Starting a Business Again Who Owns the Assets

By | Doug Constable

The term Phoenix is actually comes from the bird of Phoenix whose rises from the ashes now again as I’ve previously said there’s nothing wrong with rising from the ashes and starting again where the loss is that you shouldn’t take assets from this identity and transfer them to this identity without commercial market valuation so if you’ve got a coffee making machine and it’s in this business and this business starts up and the coffee making machines worth $5,000 and this business pays $5,000 for the coffee making machine to this one and it transfers over that’s fine that’s where you transfer it over for a dollar and one of the things that Liquidators look at is was that their commercial value to swap it over and so that the $5,000 becomes available to all the creditors not just select rent and as all were creditors in this business.

#Phoenixing #Starting #Business #Again #Owns #Assets
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Presenter Doug Contable on Financial Services Insolvency Industry

By | Doug Constable

What happened with the financial services that was all about how people have been affected by the decisions and the policies of the staff and people every day are affected by the staff and the influences of the insolvency industry and it is in a stressful situation whereas many of the practices that were involved with the banking things were poor procedures whereas in the insolvency industry because there’s this basic flaw in it that the trustees and the liquidators who owned the business were involved in the business also affects the money that they get in their hip hip pocket they make the decisions based on that and this floor is the one that’s not addressed anywhere and so what happens when someone is in financial stress either going bankrupt or their business is closed down.

#Financial #Services #Insolvency #Industry

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Presenter Doug Constable on Business Not Working Out The Traditional Failing

By | Doug Constable

The Loophole really comes about, is that these people spend all their life working and you know I’ve got numerous of examples of what the typical example is this actually a teacher or an employee, I guess in the government sector that’s worked for a long time and I’ve got some superannuation they take early retirement and they go and they buy a franchise; with the money and there are many examples of it.

#Business #NotWorkingOut #Traditional #Failing
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Presenter Doug Constable on Call for a Royal Commission Intimidation and Bullying Bankrupts and Company Directors into Complying

By | Doug Constable

So the reason we need to have a royal commission is that all these things can come out. What’s at all of the restrictions on the wire table and the intimidation tactics that are used and you’ve got trustees, where the 80% of banks insolvency work in Melbourne goes to one trustee. Now if we’re looking at fairness, what chances that trustee got of being independent? If so much of history at work has relied on this one creditor, so if this one creditor want something done; Is he impartial in helping the bankrupt and work through the issues? No, he goes after the bankrupt.

#RoyalCommission #Intimidation  #Bullying #Bankrupt #Company #Directors #Complying
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Presenter Doug Constable on Call for a Royal Commission into the Insolvency Industry

By | Doug Constable

In the insurance industry years ago they had the theory of how they created. Businesses by recruiting people. And so they would recruit people to sell. Insurance now they wouldn’t spend a lot of time on selling what they worked on theory was that if they recruited them I would sell on average of eight policies. Regardless of whether they stayed in the insurance industry or not about fifty per-cent of them would stay on and that’s how they start To to build a client base.

#Royal #Commission #Insolvency #Industry

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