Jones Partner


Insolvent Builders & Home Warranty Insurance (“HWI”)

20/03/2014 by Bruce Gleeson

For many individuals or couples one of the biggest purchases in their lives will be the construction of a new home. Unfortunately over the years there have been many residential home builders that have gone into some form of insolvency administration and ceased to trade, leaving home owners with an incomplete home and lots of worries. We are frequently appointed as Voluntary Administrators or Liquidators to residential home builders where they are insolvent. In one recent matter, there has been an instance where the HWI policies were not adequate to cover all costs incurred in completing the homes. We highlight in this article some important considerations customers should give if such an

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Insolvency and Bankruptcy Numbers – Not What You Might Expect!

by Bruce Gleeson

Welcome to our first Newsletter for 2014. A subject we are frequently asked about is what are the insolvency and bankruptcy statistics doing and what inferences can be gleaned from them. During the course of the calendar year we will be providing a regular commentary on movements. Set out in this article are graphs for NSW and Australia for corporate insolvencies and personal bankruptcies / personal insolvency agreements (“PIAs”) during the period 2010 to 2013 inclusive. Some key observations are: Corporate Insolvencies In both NSW and Australia appointments decreased by approximately 2% in the 2013 December quarter on the previous corresponding period (“PCP”). In NSW there

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Strengthening our Presence in Greater Western Sydney

24/09/2013 by Bruce Gleeson

For many years now, Jones Partners has truly valued that importance of being accessible to professional advisors and business owners and individuals throughout Greater Western Sydney (“GWS”). The GWS  region is a very significant contributor to the States GDP and has a huge diversity in the range of businesses that operate within it. Our continued presence (via our Norwest Business Park Office) has enabled us to develop strong relationships with other professionals such as accountants, lawyers and financiers, as well as and importantly assist business owners and individuals in this region who may get into financial difficulty. Having a very strong and keen interest in what happens i

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Expert says the Australian Economic Growth may not hit zero until around 2018

05/07/2013 by Bruce Gleeson

Jones Partners hosted its inaugural “State of the Economy & Industries at Risk” this week. The presentation was given by CEO and Chairman of IBISWorld, Phil Ruthven. One of the major points Phil raised when discussing levels of corporate insolvency / liquidation was that almost two-thirds (or 67%) of corporate failures were attributed to internal risk factors. This certainly appears to correlate with our own research and that of Australian Securities and Investments Commission (ASIC) which indicates that just over 60% relates to poor strategic management. Family businesses and SME’s in particular have the challenge of ensuring that they have the right level of key individuals to gi

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