Creditors owed money are sometimes concerned that they cannot recover the amount owed because there is no contract between themselves and the debtor. The initial conversation with their lawyer usually involves the following “it was not…
Update to Corporate Insolvency Reforms and Debt Restructuring
As a result of the impacts of the COVID-19 pandemic on commercial enterprise within Australia, the federal government introduced temporary relief for financially distressed companies to assist them to navigate this crisis. Among other things, this…
S19 ASIC Notices
The Australian Securities and Investment commission (“ASIC”) has extensive regulatory, investigative, and enforcement powers, the provision of which are driven by its mission to promote a strong, efficient, and innovative financial system. Its powers are broad…
Queensland Building Industry: Payments update
Chapter 3 of the Building Industry Fairness (Security of Payment) Act 2017 (Qld) was amended on 1 October 2020. The main changes are: Head contractors’ payment claims must be accompanied by a supporting statement declaring that…
A new way to restructure your Debt: For Small Businesses
Despite the various Government supports that have been implemented since March 2020, Covid-19 has had a devastating impact upon small businesses. Now, more than ever, it is critically important for small businesses to have certainty and…