On 16 March 2017, the New South Wales Supreme Court terminated a liquidation in CNL Transport following consideration of the surrounding circumstances for non-compliance with a statutory demand. Read More.
Safe Harbour protection is designed to provide relief to distressed companies to improve the prospects of implementing a successful turnaround strategy. Read More.
With recent changes to the Corporations Act 2001 the so-called ‘ipso facto’ clauses are only enforceable with court approval in the insolvency context. Read More.
When you hear the word bankruptcy, you likely envision a lot of horrific consequences. You understand that bankruptcy negatively affects your credit for years. Read More.
The Gold Coast is currently Australia’s leading tourism destination with approximately 10 million visitors every year and is the fastest growing large city with a five year population growth rate of 3.5 per cent. Read More.
A statutory demand is a formalised, written demand for payment served by a creditor on a debtor company. Failure by the company to discharge its debts posits a presumption of insolvency, being the inability for a company to pay its debts as and when they become due and payable. Read More.
This article discusses the implications of not being able to pay debts as they become due and payable. Read More.