Amanda Heard A licensee may not be able to utilise the shelter of the Bankruptcy Act 1966 to restructure their affairs or have a new beginning in the way that others might. The reason for this is that the state government imposes heavy burdens on builders who suffer an insolvency event. Queensland has the clearest and most … Read more
In R v Scott (1856) Dears & Bell 47; 169 ER 909 the Court of Criminal Appeal resolved what might be seen from the earlier cases to be a vacillation in judicial approach. In that case, Scott, a bankrupt, was tried and convicted of mutilating one of his trade books. He was convicted on his … Read more
The Federal government has introduced a new set of laws to prevent directors from being prosecuted for insolvent trading so long as the ‘safe harbour’ provisions of the Corporations Act 2001 (Cth) are complied with. Here is a link to the sections starting at s588GA For the protections to take effect you need to: 1. … Read more
Deregistering an inactive or dormant company is a relatively simple and inexpensive exercise. Before deregistering a company it is very important to take the time to consider whether the company truly qualifies for deregistration. The ASIC form requires you to make the following declaration: I declare that the statements below are correct. (a) All members … Read more
What happens if a financier serves you with a s64 Notice? The rules surrounding s 64 are complicated (surprise!)
Under the Personal Property Securities Act 2009 (Cth) (PPSA) you may dispute a registration made over your property by another party if you believe the property described in the registration does not secure a debt or obligation owed by you to the party that registered.
Effective and well considered terms of trade document can save you a significant amount of money in the long run and potentially pay for itself very quickly
Too often the money was supposed to be only out for a short time and nobody thought to do up a loan agreement. Calling in the debt and maintaining relations in these circumstances is especially tricky. What to do?
One of the most critical parts of any shareholder agreement is the method for valuing a partner’s share when they exit. What suits?
Once a Creditor’s Statutory Demand (also known as a s459E Notice or a Form 509H) has expired- that is, 21 days have passed, there are decisions for both parties to make.