The Sounds of the Baskerville

“What does it mean to be match fit?” In the first episode of Season 5 of "Sounds of the Baskerville," hosts Chris Baskerville and James Flaherty, along with special guest Ginette Muller, delve into what need to occur before small business restructuring. The episode kicks off with a discussion on the critical timing for businesses to seek restructuring help, emphasising the dangers of waiting until the last minute, such as when a Director Penalty Notice (DPN) is about to expire.Ginette highlights the essential role of trusted advisors in navigating the complex landscape of pre-restructuring and restructuring, noting that while accountants are crucial to the process, they often lack the necessary insolvency knowledge or time to research it. The conversation underscores the importance of businesses being "match fit" by having all financial statements and tax returns in order before starting the restructuring process.James, Chris and Ginette explore the challenges directors face, including denial and pride, which often delay seeking help. They provide an overview of the Small Business Restructuring (SBR) process, discussing eligibility criteria and the role of restructuring practitioners.As always, director need to seek help early to improve their chances of success. This insightful discussion is a must-listen for any small business owner facing financial difficulties.

In the second espode of the season 5 prologue of the TSOTB podcast, Patrick Schweizer from ALARES joins Chris Baskerville and James Flaherty to discuss the changes and challenges faced by small businesses. The guys reflect on the past year and share insights on what lies ahead. Despite being recorded a few months ago, the discussion remains highly relevant.Key points from the episode include:The increasing uptake of Small Business Restructuring (SBR) appointments, driven by the Australian Taxation Office (ATO).We keep hearing it, but the importance of early intervention for small business owners to avoid liquidation and explore restructuring options.The impact of government stimulus and policy changes on the economy and small businesses - what's it like the now the tap is well off?The challenges faced by specific sectors such as hospitality, cafes, and building construction due to cost pressures and labor shortages.This episode is packed with valuable insights for small business owners. Tune in to learn more about navigating the current economic landscape and making informed decisions. Tell your followers to listen in too!

In this episode of the "Sounds of the Baskerville" podcast, Patrick Schweizer from ALARES returns to chat with Chris Baskerville and James Flaherty. They discuss the importance of the sorts of alerts you can get from ALARES, which stands for Adverse Legal Action Risk Alert System. Patrick explains what his business does and its role in providing valuable extra insights and reports for credit providers and professional services.Patrick, Chris and James look at the lingering impact of the pandemic on businesses and the returned importance of extra due diligence. There are some examples where ALARES uncovered risks for insolvency practitioners and other professionals. Recorded as part of two insight sessions, this podcast comments on James and Chris' predictions for 2025, and with Patrick on board, their timing estimates are likely much more accurate. Business owners and their advisors should listen to this episode to gain insights into managing legal risks and understanding the aspects of risk insight tool selection. This episode is the first of two in the Season 5 prologue. Tune in!

Chris Baskerville and James Flaherty discuss the challenges and predictions for the upcoming year. They have made bold predictions before...How do they see the business landscape in 2025? What are the difficulties businesses face during the December-January period, and what is behind the tendency for directors to make significant decisions before the new year? TWhile they once again talk of the need to face up to business challenges -  they also chat through the potential changes in the ATO's approach to different industries.Business owners and their advisers should definitely listen in on their predictions and advice on navigating the challenging business environment, especially during the holiday season. Their discussion on insolvency trends, small business restructuring, and the ATO's evolving policies can help you stay ahead of potential issues and make informed decisions. And if you agree, or don't, tell Chris and James so they can include your feedback!

Chris and James wrap up 2024, sharing their insights. This will be interesting...What were the events and trends that shaped the business landscape in 2024? Listen in for the takeaways for business owners and their advisors. Key issues:Economic Impact of COVID-19: Chris discusses the ongoing effects of the pandemic on global economies.Government Responses: how governments supported businesses during and after the pandemic.Corporate Insolvencies: the rise in corporate insolvencies, surpassing the peak levels seen during the GFC.Staffing Challenges: So offshoring workforces continues and WFH.Technological Disruptions: James and Chris touch on the role of AI and automation.Real Estate Trends: what is the impact of the continued rise in house prices despite economic pressures?Tune in for a look ahead to 2025 next up. 

Following on fBuilding on the insights from "Let's Make a Deal," this episode dives deeper into strategies for navigating what can often be a stressful time for directors and creditors.**Understanding Settlements:** Chris shares why resolving an insolvency-related claim through settlement is often better than going to court. What are the costs, risks, and practical methods that can lead to a successful agreement?**Legal Insights:** This ep delves a little into the legal intricacies of settlements, underscoring the old adage - put it in writing!  Chris also discusses the vital role lawyers play in ensuring that all terms are transparent and mutually agreed upon, which can prevent complications down the line.**Negotiation Tips:** Chris and James share compelling real-life scenarios and stress the importance of trying to address all potential claims in one to minimise the risk of future disputes and nasty surprises. Business owners and their advisors should listen in on how insolvency, administration, and restructuring can be managed by talking through a deal upfront.  

In ep 82, "Let's do a Deal" Chris Baskerville talks us through the intricacies of making deals and settlements in the context of business insolvency and litigation.Chris explains why most legal matters are settled before going to trial, although where does court-ordered mediation fit in? How does it help resolving disputes avs going all in and taking on the the risks and costs associated with prolonged litigation?Chris shares a specific case involving a construction company. The directors transferred significant funds to a new company just before declaring insolvency, which led to a thorough investigation and the use of public examinations to hold the directors accountable.Directors need to be mindful of their options -  and the potential consequences when approaching disputes and negotiating settlements. Get legal advice! Accountants and business owners should listen to this episode to learn how Chris and his team track transactions and keep directors accountable. 

Consumer spending, industry trends, rights of creditors, etc. Isn't running a small business hard enough without having to factor all that in?James Flaherty asks Chris Baskerville to look over industry trends and how they can buffet small businesses, the challenges faced by the construction and accommodation sectors, and the importance of restructuring/change to maintain profitability. Chris and James also delve into the significance of understanding consumer spending patterns and the role of creditors in small business restructuring.Listening to their conversation could provide you with ideas or simply the encouragement needed to make tough but necessary decisions. Don't miss out!

Chris Baskerville, the managing partner of the Brisbane Office of Jirsch Sutherland, lets us in on why small business restructuring has grown by 300% compared to last year. This trend is crucial for small business owners to understand, as it offers a strong alternative to voluntary administration, which can be costly and complex.There are other things going on at the moment, though! Chris and James touch on the role of receivership and the importance of securing proper restructuring help to avoid aggressive actions from short-term lenders. Small business owners should listen to this podcast to gain insights into managing their business debts effectively and exploring options that can help them sustain and thrive in challenging times.

Everyone hates a nasty surprise. That's why Chris Baskerville asked Patrick Schweizer of ALARES to come explain what his business does. Patrick wasn't the nasty surprise, but the near misses and lessons he shares might have been. The key lesson of this episode is knowing what information is out there (and things you may not have immediately thought of) and what can really impact a big financial decision.Chris and James Flaherty chat with Patrick on this, the first of a mini-series on what special intel you can get on the business and the economy if you know where to look and what it means. Watch out for the podcast of these episodes too!And find out this week how a classic cricket catch in the slips can be expertly worked into a discussion. Yep, Patrick is an expert.