This is part of an occasional series of articles concerning personal guarantees. Typically, a company opens up an account with a supplier and the directors sign something to say that if the company does not pay then the directors will do so personally. Like so much in business it can get complicated and if there … Read more
A guarantee needs to be in writing and signed by the guarantor or the guarantor’s agent (Yes, someone else can be authorized to sign).
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
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
Where there is a dispute over property a caveat can be lodged to restrict other parties from dealing with the property. It is essential that the party registering the caveat have a direct interest in the property. Equally, the grounds claimed for lodging a caveat must be of a type recognized by the courts. You cannot … Read more
Looking for a complimentary presentation for in-house education or a client event? We presently have a selection of presentations ready to go. Guiding the Director If you can’t generate $50,000 in fees of the back of this presentation- you must not have been there! A specialised session for advisers filled with practical advice about the … Read more
I tell my clients to think like a bank. If you have a client who is about to loan money to a loved one’s business or even to their own company get some security in place. The Personal Property and Securities Act 2009 (Cth) makes it possible to become a secured creditor simply and efficiently. … 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.