AICM News

After being found guilty of 18 offences arising out of the collapse of Kleenmaid, a former director of one of the Kleenmaid group of companies, Bradley Wendell Young was sentenced to nine years imprisonment.

Kleenmaid creditors were owed approximately $96 million when administrators were appointed to the Kleenmaid group of companies and Kleenmaid's balance sheet deficit was approximately $83 million.

In passing sentence, Judge Farr said '…insolvent trading…can wreak havoc on a business community' and '…you showed a callous disregard for the fortunes of those affected by your behaviour in risking other people's money in extraordinary amounts.'

ASIC press release

The quality and quantity of the 2016 applicant teams showcases the diversity of the AICM. Applications were received from companies in industries including Utilities, Consumer Finance, Rural, Agriculture, Waste and Manufacturing to name a few.

Congratulations to all that applied and especially the 4 National Finalists who receive a $1000 team development grant and progress to the final judging.

The 4 National Finalists are:
- Australia Post
- Cummins South Pacific
- Wyndam Vaction Resorts
- Hyne Timber

Judging will take place in September with the winner announced by Debbie Leo, General Manager Sales, Major Accounts of Veda at the National Conference.
 

This article looks at how you can obtain qualifications as a credit professional and reduce the time/workload based on your prior studies and on the job knowledge.

Read the article

The 2016 YCP finalist are:

QLD -  Ross Leggett, Ruralco
NSW – Fiyona Kidenya, News Corp Australia
VIC/TAS – Catrina Galanti, Austral
SA/NT – George Vahaviolos, EMT Legal/CCC Financial
WA – Sarah Reed, Bunnings Ltd

The judges in every division where overwhelmed by the quality of the candidates. The finalists will progress to the national judging with the hope of being announced the Young Credit Professional of 2016 at the National Conference.

CCE is an award recognising current knowledge and practice in the Credit Industry and is the AICM’s commitment to maintaining professional excellence in the field of credit management.

To be eligible to sit the exam you will need to have been a member of AICM for 1 year and have accrued 100 CCE points. 

To find out what the exam consists of please click the links below.

obtaining your cce

Registration form

ACCC Deputy Chair Dr Michael Schaper recently warned businesses that the time to review their standard form contracts for unfair contract terms is running out. The new business-to-business unfair contract term laws will commence on 12 November 2016.

Those that attended the AICM seminars in August were surprised at the depth and breadth of the potential impacts but left confident they were now armed for the changes, thanks to the presentation and tips provided by Joseph Scarcella of Ashurst Laywers

The next opportunity to get across the changes will be at the national conference where Boyd Honor Senior Manager, Deposit Takers, Credit & Insurers ASIC will overview the legislation and you will have the opportunity to discuss the changes with your peers.

If you missed out on the August seminars pending sufficent interest they may be rescheduled, please email aicm@aicm.com.au to register your interest.

ACCC information

 December 2015 article 

May 2016 Article

The Credit Toolbox series has been designed by AICM Life Members and expert trainers to help credit professionals gain, improve or update themselves on the fundamentals of credit management.

Sessions are being planned in all capital cities over the next 6-12 months.  To ensure you or your team members don't miss out email aicm@aicm.com.au or call 1300 560 996 to express your interest.

Modules cover:
- Introduction to Credit
- Collect With Confidence
- Understanding Credit Risk
- Basics of Insolvency 

 More information

Our latest issue is full of articles to help you stay ahead of the game.

You can access the magazine by clicking below or logging into the members only section of the AICM Website.

 AICM Website

The AICM and its National Partners Dun & Bradstreet, Veda and Austral Mercantile have collaborated to bring AICM members a series of complimentary webinars ($50 for non-members).

Members can access the next webinar by following the link on the email sent this week, with a reminder to also be sent on the morning of the webinars. Non-members can register online.

All webinars are recorded for those unable to make the live session or to refer back to.

Upcoming webinars

• 3 November - Economic update

• August – Economic update 
• July - Is trade credit the emerging playground for fraudsters
• May - Economic update
• April - Top 5 PPSR tips for ROT suppliers
• February - Economic Update

If you are already a member of the Credit Network you will have been enjoying the changes which improved the already highly successful credit forum, plus a range of other new and improved features.

If your not already a member we urge you to take a look as the Credit Network is a valuable tool for every credit professional and its now easier than ever to access.

The AICM supports the Credit Network as part of our commitment to connect, represent and educate credit professionals to help them do their jobs better. It is also made possible thanks to the support of NCI, Results Legal and Veda.
 

Join Credit Network