“Basically liquidators view loan accounts like cash at the bank, and say ‘give me the money’. We’re seeing this situation more and more,” partner at insolvency firm Jirsch Sutherland, Stewart Free said.
Read more at The Age.
Risks as founders borrow from company coffers
Insolvency experts have called for more education on the risks of director loans amid concerns business owners are at risk of personal insolvencies if they have been borrowing from the company coffers and their business later collapses.
