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UPDATE: Unqualified electricians give themselves a shock!

The wheels of justice finally caught up with these two. Former pre-insolvency adviser Stephen O’Neill has been sentenced at Brisbane District Court to five years in prison with a non-parole period of 22 months, after pleading guilty to one charge of dealing in the proceeds of crime. Mr Narramore, who was also charged with dealing … Read more

What’s Happened to the Subcontractor Charge?

Relax. Subcontractors can still become secured creditors and protect their hard earned. The Subcontractor Charges Act can now be found in chapter 4 of the Building Industry Fairness (Security of Payment) Act 2017 (Qld) (“BIFA”). It is more or less the same process as before. Time limits and attention to technical detail remain very important. … Read more

Securing your money, Caveats, Postponing equities and Getting Paid

If you’re in the business of taking security against real property, you’ll be all too familiar with the process of registering mortgages or lodging caveats on the basis of a charging clause or an unregistered mortgage. You’ll probably also be aware that, all things being equal, a contest as to who has priority between multiple … Read more

RESPONDING TO A STATUTORY DEMAND- A MESSAGE WORTH REPEATING

Options: From the date you receive the statutory demand you have 21 days to respond to it by: a. Paying the debt; b. Reaching some resolution with the creditor; or c. Bringing an application to set aside the statutory demand. Preliminary steps: 1. You should firstly confirm the date the statutory demand was received and … Read more

Settling your debts – formal arrangement or informal arrangement?

It’s commonplace in business to find yourself experiencing cash flow problems or dealing with debtors who are. Perhaps the tardiness of your debtors is preventing you from paying your own creditors on time? Whether you are the debtor or the creditor in scenario will ordinarily determine whether you would benefit from formalising a payment arrangement … Read more