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.