-
Recent Posts
Submit an enquiry
Tags
ASIC ASIC Prosecution ATO Bankruptcy Business Business Law Commercial Disputes Company Law Corporate Governance Corporate Insolvency Corporate Law Creditor's statutory demand for payment of debt Cross Border Insolvency Debt recovery Director Duties Director Penalty Notice Director Responsibilities Dispute Resolution Employer obligations Employment Law Employment Rights Estate Planning Industrial Law Inheritance Law Insolvency Insolvency Advice Insolvent Trading International Insolvency Last Will and Testament Liquidation Liquidators Litigation Law PAYG Tax Debt Personal Insolvency Registered Office Set aside statutory demand Shareholder Agreements Shareholder Disputes Statement of Claim Statutory Demand Succession Planning Superannuation Taxation Trading Whilst Insolvent Winding UpArchives
Tag Archives: Corporate Insolvency
Setting aside a statutory demand: Genuine dispute
In an earlier post, we discussed how long you have to make an application to set aside a statutory demand. In this post, we look at one of the grounds for setting aside a statutory demand, namely a “genuine dispute”. If … Continue reading
Corporate insolvency update: Director Penalty Notice changes
In an earlier post we raised the possibility of changes to the law concerning Director Penalty Notices. The Treasury released its exposure draft of the proposed legislation for public consultation late yesterday. The object of the legislation is to address … Continue reading
A recent mention in the Australian Insolvency Journal
One of our recent cases earned a mention in the Australian Insolvency Journal. The article is extracted below: “SELLING DESIGNS AND PATENTS FOR COFFEE CUPS AND LIDS A receiver’s sale of intellectual property – registered designs and patents for coffee … Continue reading
Possible changes to Director Penalty Notice regime
In the recent budget, the Commonwealth government addressed the issue of fraudulent phoenix activity and proposed a number of law changes to strengthen the ability of regulators, particularly the Australian Taxation Office, to deal with such activity. Phoenix activity involves … Continue reading
Cross Border Insolvency: Access to Australian Courts under the Corporations Act
The Supreme Court of New South Wales recently considered an application by a Singaporean liquidator for recognition under the Australian Corporations Act. Section 581 of the Corporations Act relevantly provides that the Federal Court of Australia and the Supreme Courts … Continue reading
An example of why you need expert insolvency advice when serving a statutory demand
A recent decision of the Supreme Court of New South Wales provides a perfect example of why creditors should obtain expert insolvency advice prior to serving a creditor’s statutory demand for payment of debt. The plaintiff made an application to set … Continue reading
Update for liquidators – Official Liquidators may be able to give expert evidence in own case
In a recent decision of the Supreme Court of South Australia, the Court considered whether the Official Liquidator of a company could give expert evidence on the question of the solvency of a company to which he was appointed. The rules … Continue reading
How long do I have to apply to set aside a statutory demand?
People must be tightening their belts – we have seen an increase in new statutory demand matters. In the last fortnight, three people approached us for advice a few days after the expiry of statutory demands that were served on their … Continue reading
Duty to Prevent Insolvent Trading
In our recent post “What Is Insolvency?” we explained that when it comes to companies, insolvency is the inability of a company to pay its debts as and when they become due and payable. We also went through matters that … Continue reading
Director duties reminder: ASIC successfully prosecutes 75 company officers
Earlier today the Australian Securities and Investments Commission issued a press release relating to the successful prosecution of 75 company directors and other officers between September and December 2010 for breaches of the Corporations Act. We reviewed the list of prosecutions and … Continue reading