In the recent decision of Heavy Plant Leasing [2018] NSWSC 707, a creditor successfully defended an unfair preference claim by establishing it did not have reasonable grounds to suspect the ...
In the recent decision of Heavy Plant Leasing [2018] NSWSC 707, a creditor successfully defended an unfair preference claim by establishing it did not have reasonable grounds to suspect the insolvency of the debtor company, who was a subcontractor in the earth moving business.
In community titles schemes, body corporates are often called upon to make decisions concerning the rights of owners. Tensions can rise where a lot owner has proposed a motion and their motion is rejected – and often parties will seek to take the matter further.
A debtor company will often seek to set aside a creditor’s statutory demand on the basis that there is a genuine dispute as to the existence or amount of the alleged debt claimed by the creditor, the debtor company has an off-setting claim against the creditor (or both), that reduces
Commonly, a creditor being sued by a liquidator to refund an alleged unfair preference is owed money by the company in liquidation.
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.
At the end of last year, the High Court of Australia, in Turcinovic v Queensland Building and Construction Commission [2017] HCASL 306, dismissed the builder’s application for special leave to appeal a decision of the Queensland Court of Appeal granting the QBCC the right to summarily recover its insurance payout
Topics discussed: Market value of repossessed commercial vehicle and steps taken to sell vehicle & Increasing a credit card limit where the funds were used for gambling
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.
Topics discussed: Listing a default with credit reporting agencies & Hardship application – superannuation
Instalment contracts for the sale of land in Queensland have traps for unwary vendors.
It is common in construction and commercial leasing transactions for a party to provide an unconditional bank guarantee to secure the performance of their contractual obligations.
It is common for commercial contracts to contain ipso facto clauses, which allow a party to terminate or modify the terms of the contract where the other party experiences an insolvency event. A concern addressed by the Government is that these clauses can prevent a financially distressed company from turning
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.