The Sounds of the Baskerville

In this episode of The Sounds of the Baskerville, Chris Baskerville and Pierce Carstensen are back — and this time the gloves are off. Pierce delivers two jaw-dropping war stories that bring the family law and insolvency crossover to vivid life: a diamond merchant framed on death row, and a debtor who tried to hide everything behind a conveniently timed divorce.But beneath the remarkable storytelling lies a serious message for creditors, directors, and insolvency practitioners. Pierce reveals why the family court can actually be a more powerful forum to recover assets than the state courts — and why failing to intervene in family law proceedings could mean walking away empty-handed.If Episode 117 was the theory, Episode 118 is where it gets real.

In this episode of The Sounds of the Baskerville, Chris Baskerville is joined by James Flaherty and family law specialist Pierce Carstensen for a fascinating deep-dive into one of the most overlooked intersections in the insolvency world — where family law and insolvency law meet head-on.Pierce reveals why insolvency practitioners routinely leave money on the table when a family law element enters the picture, and why that needs to change. From spouses quietly transferring assets to defeat creditors, to the Family Law Act's little-known power to tear apart those very agreements, to the complex dance between trustees in bankruptcy and the family court — this episode pulls back the curtain on a space that most practitioners avoid but can't afford to.

In this episode of The Sounds of the Baskerville, Chris Baskerville and James Flaherty tackle one of the most common and quietly dangerous traps facing Australian businesses right now: the labour and margin squeeze. When you can't hire enough people to meet demand, and rising costs are eating into what little margin you have left, the ceiling on what your business can earn becomes very real, very fast. Chris and James explore what business owners can actually do about it, from smart pricing strategy (you can lose 20% of customers and still come out ahead) to the role of automation, offshoring, and knowing when a business model has simply run its course.

In this episode of The Sounds of the Baskerville, Chris Baskerville and James Flaherty take a candid, unscripted look at the economic storm clouds gathering over Australia. From the cascading effects of global conflict on fuel prices, to the squeeze on household disposable incomes, to tightening credit across second-tier lenders, the conditions for a wave of business distress are quietly falling into place. Chris unpacks the concept of externalities, the economic shocks no business owner can plan for and what history tells us about the insolvency cycle that follows. With recession talk returning and the cost of living biting harder than ever, this episode is a timely reality check.

In this episode of The Sounds of the Baskerville, Chris Baskerville and Ginette Muller take stock of where the SBR landscape stands today. After years of record uptake, the numbers are starting to dip and the reason why matters for every business owner, accountant, and advisor in the room.The ATO, creditor in 93% of all SBRs, has sharpened its scrutiny. Red flags like poor compliance history, Division 7A director loans, and underpowered offers are killing proposals that might once have slipped through. Chris and Ginette unpack what practitioners need to do differently: front-load your evidence, get clients match fit, and make your one shot in seven years count. The stakes are real. Tighten the process too much, and phoenixing fills the void.

In this episode of The Sounds of the Baskerville, Chris Baskerville and James Flaherty tackle one of the most overlooked conversations in business: how to close up shop the right way. Whether you're exhausted, retirement-bound, locked in a deadlocked shareholder dispute, or simply watching a once-great business run out of road, there's a world of difference between walking away cleanly and watching chaos consume everything you built.Chris breaks down every option on the table, from simply letting a company deregister, to members' voluntary liquidations with serious tax advantages, to the expensive mess that shareholder disputes become when there's no agreement in place. The bottom line? Meeting danger head-on halves it. Ignoring it doubles it. If you've ever wondered what "closing well" actually looks like, this episode is your roadmap.

In Episode 112 of The Sounds of the Baskerville, James and Chris are joined once again by restructuring specialist Ginette Muller to explore one powerful concept every director should understand: being “match fit.” Before walking into liquidation, voluntary administration, or Safe Harbour, are directors truly prepared for what lies ahead?Ginette and Chris unpack the full toolkit available to struggling businesses: Safe Harbour, voluntary administration, restructuring, and when to simply hand over the keys. Chris shares frontline insights on identifying the real problem behind a struggling business, while the trio discuss Safe Harbour, concentration risk, ATO pressure, and why hope is not a strategy

In this riveting episode of The Sounds of the Baskerville, insolvency expert Chris Baskerville pulls back the curtain on the shadowy world of money laundering, Ponzi schemes, and financial crime. From poker machines in 1980s pubs to cryptocurrency wallets hiding stolen millions, Chris reveals how fraudsters are getting smarter and how investigators are getting smarter right alongside them.Discover why a looming March 2026 AML compliance deadline could expose accountants and practitioners to serious fines, how liquidators wield surprising legal powers to chase stolen funds across borders, and why the most dangerous person a fraudster can cross is a well-funded, angry creditor.

In this high-stakes episode of The Sounds of the Baskerville, James, Chris, and Stephen unpack the difficulties of running a small business. Looking at one of the most confronting realities facing Australian directors, the Director Penalty Notice. As ATO enforcement accelerates, unpaid PAYG and superannuation can quickly shift from company debt to personal liability, often catching directors off guard.Chris and Stephen break down exactly how DPNs work, the critical 21-day deadline that can make or break a director, and the common mistakes business owners make when panic sets in. The team unpacks how liability arises, when it can be remitted, and what happens if action isn’t taken in time.

Season Six of The Sounds of the Baskerville kicks off with a powerful question. How do you run a business when the world refuses to behave predictably? From COVID shutdowns and supply chain shocks to tariff tensions, population surges, labour shortages, and the rapid rise of AI, James and Chris unpack the reality of operating in an era of permanent uncertainty.Reflecting on global events, economic fundamentals, and frontline insolvency experience, Chris explains why supply and demand still rule everything, and why uncertainty isn’t something to fear, but something to exploit. The conversation explores government intervention, infrastructure pressure, workforce disruption, and the stark truth that there will always be winners and losers in times of change.

A year in review, looking back at some highlights and lowlights of small business restructuring. 

What really happens when a business collapses and creditors want their money back? In this gripping episode of The Sounds of the Baskerville, James and Chris dive deep into the emotional, financial, and often unpredictable world of creditor behaviour. From million-dollar grain traders who rally behind the liquidator, to small business owners devastated by losing just a few thousand dollars, Chris unpacks why some creditors cooperate while others come in swinging. Hear stories of deception, sympathy, rogue directors, furious investors, and the surprising ways creditors can actually fund investigations to “chase the pot of gold.” Chris reveals how goodwill, timing, transparency, and the director’s own behaviour shape whether a liquidation becomes collaborative — or confrontational. Packed with real cases, sharp insights, and the human drama behind insolvency, this episode is a must-listen for business owners, advisors, and anyone curious about what really drives creditor anger

In this compelling new episode of The Sounds of the Baskerville, James Flaherty sits down with Chris Baskerville to explore one of the most powerful and misunderstood tools in business survival: time. From Voluntary Administration to Safe Harbour, Small Business Restructuring, and even the mysterious “holding DOCA,” Chris breaks down the real mechanisms struggling businesses can use to press pause, regroup, and fight their way back to viability. Packed with practical insights and surprising behind-the-scenes stories, this episode reveals how directors can legally buy breathing room, protect themselves, and negotiate better outcomes with creditors, including the ATO. Whether you’re a small business owner feeling the pressure, an advisor navigating tough conversations, or just fascinated by the mechanics of corporate rescue, this episode shows how the right strategy (and the right practitioner) can turn the clock in your favour.

Strap in for one of The Sounds of the Baskerville’s wildest episodes yet! Host James Flaherty and resident “hound” Chris Baskerville are joined by special guest Hanzel Hizola from Jirsch Sutherland to share unbelievable stories from the front lines of insolvency. From toothless cows and crocodile trainers to million-dollar tax debts and small business rescues, this episode is equal parts jaw-dropping and insightful. The trio dive into the real challenges facing small businesses in 2025, from ATO pressure and cash flow traps to the emotional rollercoaster of directors facing bankruptcy.

In this episode of The Sounds of the Baskerville, hosts James Flaherty and Chris Baskerville dive deep into the world of insolvency to answer one big question: what truly makes a good liquidator? Forget the stereotypes, this candid conversation explores the balance between empathy, integrity, and commercial acumen that defines the best in the business. Chris shares insights from 20 years in the industry, revealing the human side of liquidation, the moral challenges practitioners face, and the importance of teamwork under intense pressure. From saving businesses on the brink to managing complex bankruptcies, this episode gives listeners a behind-the-scenes look at the grit, judgment, and ethical backbone required to succeed in such a demanding profession. 

In this episode of The Sounds of the Baskerville, James Flaherty and insolvency specialist Chris Baskerville shine a spotlight on what happens when dodgy directors and their advisors get caught out. From illegal phoenix activity to sham asset transfers, Chris explains how regulators, including ASIC, the ATO, and the Illegal Phoenix Taskforce, step in to dismantle fraudulent schemes and why the fallout is often severe. With sharp analogies (poker tables, DeLoreans, and even omelettes you can’t unscramble), Chris walks through how investigators uncover hidden trails, the power of public examinations, and the mistakes directors inevitably make under pressure. The message is clear: shortcuts and “advice you want to hear” may buy time, but they come at a high cost when the truth emerges. Packed with gripping stories, practical warnings, and essential insights, this episode is a must-listen for anyone navigating business risk. Tune in and learn how to exit with grace, not disgrace.

In this hard-hitting episode of The Sounds of the Baskerville, James Flaherty and insolvency specialist Chris Baskerville shine a light on the shadowy tactics some directors and advisors use to “game the system.” From exploiting loopholes in Small Business Restructuring rules to creating the illusion of being a secured creditor, Chris explains how these strategies often unravel and why they rarely end well. Listeners will hear about the rise of dodgy pre-insolvency advisors, illegal phoenix activity, and the risks directors face when they chase the advice they want to hear instead of the advice they need. With stories of raids, seized assets, and directors left holding the bag, this episode is a stark reminder that shortcuts in insolvency come at a high cost. Packed with candid insights, sharp anecdotes, and practical lessons, The Gamers is essential listening for business owners, creditors, and anyone curious about how the rules of insolvency really play out.

In this milestone episode of The Sounds of the Baskerville, James Flaherty and insolvency specialist Chris Baskerville reflect on over 100 episodes of insights, lessons, and hard truths for business owners and creditors. From risk alerts and creditor tools to the evolution of Small Business Restructuring (SBR), they unpack the strategies that protect businesses when cash gets tight and the traps that catch directors who leave things too late. Chris explains how creditors can use publicly available data, the PPSR, and updated terms of trade to safeguard their position, while also revealing why the ATO is tightening its grip as Australia’s largest (and often last-paid) creditor. The conversation culminates in a deep dive on Director’s Penalty Notices, what they are, why they’re skyrocketing, and why ignoring one is a ticking time bomb for directors. Packed with practical wisdom and sharp takeaways, this episode is essential listening for anyone navigating today’s financial landscape.

In this milestone episode of The Sounds of the Baskerville, James Flaherty and Chris Baskerville pull back the curtain on two decades of insolvency tales, hard-earned lessons, and the entrepreneurial spirit that keeps small businesses alive. From COVID-era chaos to digital-age dilemmas, they reflect on the top themes that shaped their journey—and yours. Whether you're a seasoned business owner, a curious startup founder, or just love a good story, this episode is packed with real-world insights, surprising twists, and the kind of advice you won’t find in textbooks. Hear how failure can be your MBA, why some people are destined to succeed after falling three times, and what creditors need to know to protect themselves. It’s raw, it’s real, and it’s a tribute to those brave enough to have a go. Tune in and celebrate the grit behind the glory.

Episode 99 of The Sounds of the Baskerville equips directors, creditors, and entrepreneurs with the tools to “Get Smart” about cash flow and insolvency risks. Host James Flaherty teams up with insolvency expert Chris Baskerville to reveal why cash is king—and how overlooking a 12-week forecast can leave your business exposed. From the red flags of rounded-sum invoice payments to the dangers of triple-mortgaged homes, Chris shares real-world stories that bring the lessons home. You’ll learn how to:Quarantine tax liabilities before they spiral,Lock in supplier agreements to strengthen your position,Avoid personal guarantees that could put your family home at risk,Trace margins and assets with precision,Leverage commercial loans strategically.Whether you’re considering a Small Business Restructuring (SBR) plan or simply want to bulletproof your balance sheet, this episode is packed with clear, actionable tactics to protect profits and safeguard assets. With Episode 100 just around the corner, there’s no better time to sharpen your financial game. Tune in now and take control of your cash—before it takes control of you.

In this episode of The Sounds of the Baskerville, James Flaherty sits down with trustee Chris Baskerville to unpack the often-overlooked realities of personal insolvency. Together, they explore the lasting effects of the Hayne Royal Commission, which saw bankruptcies fall dramatically from 30,000 a year to just 10,000, and reveal why banks are now leaning toward alternatives over formal bankruptcy. Chris breaks down the complex idea of vesting property—how a bankrupt’s estate effectively “clones” itself, continues beyond the individual, and captures inheritances, delayed settlements, or even family homes. With gripping real-world examples—from Mickey 17-style cloning analogies to cross-collateralised loans and multi-million-dollar plumbing disasters—listeners get a rare look at how personal guarantees and poor structuring can spiral into financial ruin. Packed with sharp insights, memorable stories, and practical strategies, this episode is essential listening for anyone wanting to protect their assets and future from unexpected risks.

In this episode of The Sounds of the Baskerville, James Flaherty and insolvency expert Chris Baskerville reveal the high-stakes reality of choosing the right legal support when your business is on the line. Forget the theory—this is a straight-talking, fast-moving look at real disputes, tough settlements, and the dangers of relying on a generalist when you need a specialist. With colourful stories (yes, unicorns and dental mishaps included), Chris shows how experienced litigators outsmart the unprepared, why chasing “certainty now” often beats gambling on “maybe later,” and what really happens when creditors, directors, and lawyers clash in the final act of a company’s life. Packed with sharp insights, practical takeaways, and a dose of humour, this episode is your guide to making commercially smart choices under pressure. If you want to understand how to survive, and even win, when the legal battles heat up, this one’s unmissable.

In this action-packed episode of The Sounds of the Baskerville, James Flaherty and insolvency expert Chris Baskerville channel a little Wesley Snipes flair to unpack a high-stakes corporate collapse. The case? One trustee company controlling five separate trusts—saving a few hundred dollars a year in compliance costs, but setting the stage for a catastrophic unravelling. When litigation, unpaid debts, and a court-ordered liquidation collide, Chris steps in as liquidator and receiver, armed with a “guillotine order” and, ultimately, a sheriff-backed warrant of seizure. You’ll hear how stubborn silence, missed deadlines, and poor structuring led to police and the sheriff physically taking possession of multiple properties—while businesses and, sadly,  families were still inside. Packed with lessons on risk management, trust structuring, and acting early to negotiate, this episode is a gripping blend of legal drama and practical advice. If you own assets through trusts, this is one you can’t afford to miss.

Recorded live in Bali at the HAA Assist Collaboration Conference, this high-energy episode of The Sounds of the Baskerville pulls back the curtain on some of Australia’s most audacious financial schemes. James Flaherty and insolvency expert Chris Baskerville share gripping real-world stories—from chasing down millions through last-minute freezing orders to uncovering forged investment documents and elaborate Ponzi structures. Chris reveals the red flags every investor should recognise, including the “magic 20% return” trap, bait-and-switch tactics, and the use of fake information memorandums to dodge corporate regulations. You’ll hear how greed, charm, and complex structures are used to disarm victims—and how sharp investigation work can still bring fraudsters undone. Whether you’re a finance professional, business owner, or simply fascinated by high-stakes financial drama, this episode is a masterclass in spotting scams before it’s too late. It’s part education, part true-crime—and 100% eye-opening.

They call him in when there is a dodgy scheme to be unpicked. Can he get back the money stolen from Mum and Dad investors by fraudsters who game the system? And how does he even know where to look for the assets hidden in odd legal structures, or just missing? Listen in to Chris Baskerville live in the first of 2 podcasts recorded live at the HA Assist/GM Advisory Collaboration Year Conference in Bali, July-August 2025. As colourful and engaging as always, Chris shares with James and the conference delegates lessons for investors to avoid these scams, and a few tips for fellow practitioners on what to look out for when trying to sort out the mess! 

In Episode 93 of The Sounds of the Baskerville, James Flaherty and Chris Baskerville take you inside the often-misunderstood world of insolvency—where fairness, strategy, and timing can make or break a recovery. If you've ever wondered how small business liquidations work behind the scenes, this is the episode for you. Chris breaks down the tools available to liquidators to claw back value, protect mum-and-dad creditors, and hold bad actors accountable. From chasing unfair preferences to working within statutory frameworks, you'll hear real-world examples of how liquidators are using the law to fight for equity and justice. With sharp insights, engaging storytelling, and just the right dose of humour, this episode lifts the veil on the processes designed to bring order to financial chaos. Whether you're a business owner, advisor, or curious listener, this is a masterclass in how insolvency really works—and why it matters more than ever.

In this timely episode of The Sounds of the Baskerville, James Flaherty and insolvency expert Chris Baskerville unpack ASIC’s latest report on the Small Business Restructuring (SBR) regime—and what it really tells us about the state of Australian businesses post-COVID. With over 3,400 companies having used the SBR process and more than $100 million returned to creditors, the numbers are promising. But behind the stats are real stories of survival, smart planning, and hard decisions. Chris shares first-hand insights from the front lines—what’s working, where the ATO is shifting its stance, and why some businesses thrive while others collapse. Whether you're a practitioner, a business owner, or just curious about how restructuring can rescue a company from the brink, this episode delivers practical insight with trademark humour and clarity. It's not about doom and gloom—it’s about second chances, financial discipline, and doing the right thing.

The courtroom battle may be won, but the war isn't over. In this powerful sequel episode of The Sounds of the Baskerville, James Flaherty reunites with insolvency specialist Chris Baskerville to explore what comes after securing a $1.5 million court judgment. With the land still unsold and an appeal looming, Chris walks us through the gritty realities of recovering funds on behalf of mum-and-dad investors. From navigating statutory demands to preparing for a potential trip to the Court of Appeal—or even the High Court—this episode captures the high-stakes world of post-judgment enforcement. It’s a masterclass in commercial litigation strategy, trust-based legal relationships, and the relentless pursuit of fairness. If Episode 90 was about the win, this one’s about the work it takes to make that win real. Essential listening for anyone interested in justice, insolvency, or the human cost of corporate collapse.

In this gripping episode of The Sounds of Baskerville, James Flaherty sits down with insolvency expert Chris Baskerville to unpack a real-life legal drama involving a $1.5 million court battle. Chris reveals the details behind a high-stakes dispute in the Victorian Supreme Court over a failed land deal, where a liquidated company sought the return of investor funds. With sharp insights, contract intricacies, and a showdown over possession vs. entitlement, this episode captures the tension, strategy, and legal nuance of corporate recovery. Learn how timing, contract language, and good legal relationships can make or break a case—and why being slow to act can cost millions. If you enjoy courtroom chess, business intrigue, or are fascinated by the human impact behind commercial litigation, this episode is a must-listen. Don't miss the line that could become your new motto: "Equity does not favour the tardy."

Science fiction, a water treatment plant, and a guy owing money getting nabbed while belted up in his allocated seat, just before he escapes on a plane.Another eclectic combination of topics packed into just one episode – this time, the latest, number 89, of The Sounds of The Baskerville Podcast. Now in its fifth season, Chris Baskerville continues to delve into insolvency and restructuring, and he unpicks compelling issues for business owners, their advisors, and anyone interested in a good, informative yarn.In this episode, we think about time. How long does it take for the wheel of justice to spin? How long a bad business can keep dragging on and on… how denial can prolong financial struggles and the severe consequences that come with it. As always, this episode offers valuable insights on avoiding financial business pitfalls and getting on with seeking sustainable success.Worth your time!

“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. 

In the latest episode of the Sounds of The Baskerville Podcast, Chris Baskerville and James Flaherty discuss the most recent insolvency statistics, delving into the headlines to explain what business people need to know about the current situation and the implications of the changes in the Small Business Restructuring law over the past few years.Why do the guys stay on this issue? Because they are constantly amazed about how few people know about these things and how much incorrect information is out there. And – it's new, things are changing all the time.What are the 'need to know' what's causing the spike in numbers, and what are the 'watch-outs'?This episode will also set the stage for an upcoming vodcast/podcast session featuring industry expert Patrick Schweizer from Alares.Remember to tune in for an informative session (infotainment!) with Chris and James on the Sounds of The Baskerville Podcast.

Through real-life examples and a touch of humour, this podcast provides a wealth of practical knowledge for anyone considering starting a business or currently encountering business challenges. Whether you're a seasoned business owner or just starting, this episode is a must-listen for valuable lessons on staying financially fit and avoiding common traps that can lead to business failure.Delving into the intricacies of business ownership, financial literacy, and the often-overlooked responsibilities that come with it, Duncan Perkins again joins Chris Baskerville in a candid discussion on the common pitfalls that new business owners face, emphasising the importance of understanding the financial and legal structures of a company. How often does Chris hear people blame their accountants or bookkeepers for business failure?Listen in to Chris and Duncan's insights on the crucial role of accountants and the dangers of shifting blame when businesses face challenges.We’re always told to do personal budgets, but what is the impact of financial decisions on both business and family life if you have no goal, or are not honest with yourself? Tune in to another practical and entertaining discussion on how to approach business ownership with the right mindset and tools for success.

This week, Duncan Perkins from TaxTime Accountants joins Chris Baskerville and James Flaherty to discuss the potential tax headaches that can arise when a side hustle grows into a more significant business venture.Always a lively forum, in this podcast episode, Duncan steps up the tempo on The Sounds of The Baskerville in a fascinating conversation on topics such as investment properties, the transition from a hobby to a business, and the importance of understanding tax implications and risks. Duncan provides practical insights and shares stories to illustrate the snares one can fall into without proper tax advice. Duncan is practical, relatable, and entertaining. He joins the Showman himself, Chris Baskerville, in offering valuable insights for listeners who may be considering buying property portfolios or running something on the side.

In another great instalment on the Ken Grace saga, on The Sounds of The Baskerville Podcast, Chris Baskerville again explains in everyday terms the complex world of insolvency practice, exploring the quasi-judicial role of trustees in a balance between law and accounting. He explains to James Flaherty and listeners his challenges chasing down the Goldsky Ponzi scheme, the importance of making informed decisions, and the impact of such schemes on real lives.Chris shares his experience being challenged by the Australian Securities and Investments Commission (ASIC). He then discusses how strategic decisions were made to secure assets and gain the cooperation of ASIC and great help from their lead investigator. And don’t forget the crucial role of the creditors themselves!In Chris's easy-to-listen-to style, learn more about the legal and emotional ramifications of financial fraud, the importance of quick settlements, and the value of turning adversaries into allies. The conversation also touches on the personal toll these cases take on investors, highlighting the human side of financial crime. This episode is a must-listen for anyone interested in the intersection of law, finance, and the human stories behind the headlines.

Following the money to uncover the truth.In this episode, Chris highlights the investigative process, the challenges faced by liquidators, and the legal strategies he employed to recover assets from financial fraud. Listen in to hear how meticulous work was required to unravel what looked like a complex financial scheme but was, in reality, a simple fraud. What trade-offs did Chris have to make in chasing down the money, and who got what? What were the red flags, the clues he and his team uncovered, and—without giving away the secret sauce—how?!

FOMO, fear of missing out! And when it all went south, how did a few keep the money they might have known wasn't so legit?In this episode of The Sounds of the Baskerville, Chris Baskerville continues the story of his investigation of the Goldsky Ponzi scheme. The scam defrauded investors millions by promising a 20% guaranteed return on their money. Chri explains how the fraudster, Ken Grace, used fake documents, celebrity endorsements, and a shell game to fool e people into his scheme and how he paid the early investors with the money from the later ones to create a word-of-mouth effect.How did Ken Grace use the credibility of some people to abuse the trust of so many?   Some people got their money back and kept it. How?  Chris discusses the differences between the Goldsky case and the Bernie Madoff case (the largest Ponzi scheme in history). He looks at the different outcomes for the fraud's winners and losers. Why should those who knew or suspected the fraud and walked away with profits give back the money? Why don't so many have to give back what they got and share it with the victims who lost their life savings?

In this next episode of The Sound of the Baskerville, Chris Baskerville continues the story of Goldsky, a fraudulent investment scheme that claimed to use sophisticated algorithms and behavioural science to generate high returns for its clients.This time, Chris talks James through 'the information memorandum' that Gold Sky used to lure investors and points out the red flags and inconsistencies that should have raised suspicion.Listen in as Chris tells how the founder of Gold Sky, Ken Grace, uses fake credentials, copies websites, and exploits the names of celebrities and reputable firms to create a false image of legitimacy and credibility. Don't try this at home!What's the psychology behind the investors' decisions, and the challenges and risks involved in investing in unregistered and unregulated schemes - that all too often target unsophisticated investors? Let's face it, that's most of us...

What do a real estate agent, a restauranteur, a meat worker, a concreter, and an alleged mistress have in common? They were all supposedly in the Sydney office of the Goldsky Ponzi scheme, senior investment advisors.This episode of our mini-series continues on the Gold Sky Ponzi scheme, a fraud that involved a fake hedge fund and deceived investors in Australia and the US. Chris Baskerville explains how the mastermind of the scheme, Ken Grace, used a loophole in the Australian regulations to avoid getting an AFSL licence and claimed to have an SEC licence in the US. Brazenly, Grace copied content from other websites to create a false impression of legitimacy and credibility. Chris tells how he was eventually exposed by the SEC and ASIC. The podcast also explores the role of various people who were involved in the scheme as senior investment advisors despite having no relevant qualifications or experience. The podcast aims to expose the deception and manipulation behind the Gold Sky Ponzi scheme and to warn potential investors about the risks of such scams.

Welcome to the first episode of 2024, the start of our series on the Goldsky Ponzi Scheme, one of the more brazen frauds in Australian history. Many people say they are ‘experts’ on this case, but let’s get the story from the man who had to unpick it.In this mini-series, we will follow the trail of Kenneth Grace, the mastermind(?) behind Goldsky. Grace contrived to be named hedge fund manager of the year and swindled millions from unsuspecting investors. Chris Baskerville and his team were appointed to recover the money that they could and unravel the web of lies. Chris will share his insights and anecdotes on how he pursued Grace's falsehoods across the globe, from Singapore to the US, and exposed his deception.While a serious topic, we hope you will find this series entertaining and informative as we explore the anatomy of a Ponzi scheme and the lessons we can learn from it. Stay tuned for the next episode, where we will dive deeper into the details of Goldsky and its operations.

In this Prologue to The Sounds of the Baskerville Podcasts for 2024, James Flaherty, talks with two insolvency experts, Chris Baskerville and Bill Cotter, about the Small Business Restructuring (SBR) regime in Australia. SBR is a relatively new option for businesses with less than $1 million in debt to restructure their affairs and avoid liquidation, with the help of a Small Business Restructuring Practitioner (SBRP). Bill and Chris explain that the SBR process is fast, efficient and a bit more flexible than formal insolvency events. , SBR allows businesses to propose a plan to their creditors that can reduce their debt and improve their cash flow. The SBR process has a high success rate, with over 80% of the plans being accepted by creditors, often the Australian Taxation Office (ATO), which is typically the largest creditor.What works, what doesn't and why act now (we always say that, but why this time?)