Debt Recovery

  • Unreasonable Director Related Transactions in Liquidations

    When a company goes into liquidation, a party to a transaction with the company may be required to repay the assets or payments to the liquidator. When might this occur? One of the situations is where there has been an unreasonable director related transaction prior to the appointment of a liquidator.   What is an unreasonable director related transaction? This [...]
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  • Can I Unwind a Winding Up?

    You are a director and shareholder of a Company and the court has just wound up your Company and appointed a liquidator. But this was an administrative oversight and you cannot afford to be associated with a liquidated Company, as it will severely affect your reputation, profession or trade and your ongoing business relationships. Can I unwind a winding up [...]
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  • Is My Company Insolvent? How do I know?

    You’re having difficulty keeping on top of your company’s creditors, paying its taxes and the bank is putting pressure on your company overdraft, but you feel it is all a temporary cash flow issue. Is my company insolvent? The Act Section 95A of the Corporations Act 2001 (the Act) expresses insolvency as an inability to pay debts as and when [...]
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  • Promises, promises, promises!

    You provided your goods or services months ago but, despite the numerous promises of payment, your invoices still remain unpaid. The weeks of telephone calls and emails requesting payment appear to have fallen on deaf ears. It is time to take a more aggressive approach, but where do you start? Statistics show that a letter from a lawyer is more [...]
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