Commonly, a creditor being sued by a liquidator to refund an alleged unfair preference is owed money by the company in liquidation. ...
Commonly, a creditor being sued by a liquidator to refund an alleged unfair preference is owed money by the company in liquidation.
A hotel owner who purchased gaming machine entitlements has successfully claimed deductions totalling $600,300. Costs for gaming machine entitlements have often be treated by the ATO as non deductible.
Often private companies are collectively owned by families, friends or close business associates who, at incorporation, saw little need to enter into stakeholder agreements to provide them with access to company information.
Just because a liquidator asserts you have received an unfair preference, does not necessarily mean you have or that there are no potential defences available to you.
When a lessee fails to comply with a notice to remedy a non-payment or other lease default, the lessor may be entitled to terminate the lease and retake possession of the property. This is commonly done by changing the locks.
Recently the New South Wales Court of Appeal considered whether a director was liable under a guarantee in a credit application where his electronic signature had been affixed to the guarantee without his knowledge.
On 20 October 2015 the Queensland Court of Appeal awarded an ex-daughter-in-law a sum equivalent to 17.5% of the net value of a rural property owned by her former husband’s parents and a family farming enterprise owned by a trust controlled by the parents and ex-husband.
It is not uncommon for a creditor (assignor) to transfer their right to receive payment of a debt (assignment) to a third party (assignee). The assignee will then seek payment from the debtor.
From 1 July 2016, the Queensland Government has extended the duty exemption for transfers of assets used in a primary production property.
Cooper Grace Ward partner Scott Hay-Bartlem has been accredited by Family Business Australia as an FBA Accredited Adviser.
As a starting position, it is a company that is liable for breaching its contract, not its shareholders or directors.
Commercial negotiations are commonly conducted by email where the parties express informal agreement on the terms and say ‘it is subject to contract’ or ‘subject to the execution of a contract’.
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.