Director loans bankrupting business owners
Business owners are being warned about director loans contributing to personal bankruptcies, as creditors chase business owners for outstanding funds during liquidation.
Stewart Free, a partner and the NSW trustee at insolvency firm Jirsch Sutherland, revealed that his firm has seen a substantial spike in the number of insolvency cases involving director loans, and that many business owners may not be aware of the risks and ramifications associated with them.
Read more at MyBusiness.
