It’s a sad truth that in tough economic conditions, people are sometimes unable to pay for work that they’ve engaged a business to carry out on their behalf. We see this time and time again, especially in the motor vehicle industry (e.g. mechanic’s workshops), computer repair businesses, spray painting businesses, watch repair, jewelers and many
Directors have been given a temporary reprieve from the risk of personal liability for their companies’ insolvent trading due to temporary amendments to insolvency laws because of COVID-19. However, this temporary relief only applies to debts incurred in the ordinary course of business between 25 March 2020 and 25 September 2020. The temporary relief is
A poignant reminder this week that during this COVID period, the Courts will still strictly apply the time limits and requirements for applying to have a statutory demand set aside. In CPR Solutions Mackay Pty Ltd v Zammit Earthmoving Pty Ltd, the respondent served a creditor’s statutory demand pursuant to section 559E of the Corporations Act 2001 (Corporations
As yet another builder enters into liquidation, let this be a timely reminder for creditors to seek urgent legal advice if they suspect that their client may be having financial difficulties. Ri-Con Contractors Pty Ltd has reportedly entered liquidation, with debts totalling more than $4 million owed to more than 300 creditors. Whilst it is
Recovering unpaid debts can be difficult, especially when the party who owes the debt (the debtor) becomes hard to reach, relationships between the parties begin to sour and/or an agreement cannot be reached between the parties about what debts are due and owing. It is important with any debt recovery action to act as quickly
When seeking legal advice and/or representation, legal fees are inevitable but how much you spend may be entirely up to you. Here are some tips on how you can control the costs and reduce your fees: LISTEN TO YOUR LAWYER Presumably, you have engaged with your chosen lawyer because of their expertise and hope