Friday, 24 July 2020
Does the carrying out of rectification work reset the 6 year and 6 month time limit for issuing a direction to rectify? This is the question that the Queensland Civil and Administrative Tribunal (QCAT) recently considered. The answer is No. The facts of the case are as follows: Practical Completion was achieved in 2009; The
Wednesday, 08 July 2020
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
Tuesday, 23 June 2020
Under the current framework, ASIC does not verify the personal details of corporate officeholders. As a result, many companies are run under false names. This allows rogue company directors to deliberately avoid paying creditors by liquidating the company, transferring its assets to a new company and continue trading. The Treasury Laws Amendment (Registries Modernisation and Other
Wednesday, 17 June 2020
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