October 2009

Insolvency increase as green shoots appear

Fri, 23/10/2009 - 00:00 — Georgina Smith

Despite talk of 'green shoots' of economic recovery and an improving market, the Insolvency team at Sydney Mitchell are expecting a rise in Insolvency cases heading their way.

Already insolvency statistics show that there is a 39.1% increase from last year in company insolvency's. This includes administrations, compulsory liquidations and creditors voluntary liquidations. Individual insolvency's are also on the increase with a rise of 27.4% from last year. This figure includes bankruptcies, IVAs (Individual Voluntary Arrangements) and DROs (Debt Relief Orders).

Issue 22, Oct 2009. Employment law legislation & recent changes

Thu, 01/10/2009 - 00:00 — Georgina Smith

This month Dippalli Naik from Sydney Mitchell looks at the recent changes to Employment Law Legislation and how it could affect your business.

Changes are set for 1st October when employers are no longer able to pay tips and service charges through the payroll in order to meet the minimum wage. This change will be set to benefit those working in the restaurant trade where tipping is commonplace. But will inevitably put pressure on the employers who have historically been paying the tips through the payroll in order to make up the pay to meet minimum pay requirements.