Happy New Year
Happy New Year to all of our friends and colleagues. We hope that 2022 is good for you and your family.
Debt not Paid – What’s Next?
A Letter of Demand has been sent and no payment has been received. The debt due looms larger and larger in your ledger and you know the older it gets, the harder it is to collect. So, what’s next? Your terms and conditions of sale could dictate what to do next. You may have [...]
Changing Your Will can be Voluntary … and Involuntary
So you have made a Will to indicate your wishes on your passing. Good! Did you know that your Will can be changed – not only by you but also by law? You can elect to change your Will at any time by revoking your previous Will in a number of ways, the most common [...]
What is a Creditor’s Voluntary Liquidation?
The liquidation of a company that is insolvent can be initiated two ways: - By a creditor who makes a court application usually relying on the presumed insolvency of the company due to the non-compliance by the company with a Creditor’s Statutory Demand; or - By the company itself realising that it is insolvent and unable [...]
The DIN is Here!!
The Director Identification Number (DIN) has been introduced under the Corporations Act 2001 (“the Act”) as part of the Federal Government’s ongoing attempts to reduce fraud and in particular, illegal phoenix activity. A DIN will be a 15-digit number starting with “036” being the three digit code for Australia, then the eleven digit number [...]
FIFA Ethics Committee Doles Out Further Bans
The smell around international football still lingers with former FIFA President Sepp Blatter, now aged 85, given a new six plus year ban for breaching FIFA’s code of ethics. The new penalty extends Blatter’s ban from all things football and empties his bank balance somewhat with a £750,000 fine to boot. FIFA’s ethics committee [...]
Debt not Paid? Start off on the Right Foot with a Letter of Demand
Whilst there is no requirement under New South Wales State legislation that a Letter of Demand be sent for a debt due and owing, our experience dictates that a well structured Letter of Demand can be ignored, raise issues that you were not aware of or elicit payment. In civil proceedings to be issued [...]
To Will or Not to Will – That is the Question
Do you have a personal Will? If not, then the rules as to the distribution of your assets are as set out by the State Government. If you do, has it been prepared by a lawyer or by you or a friend at home? The difficulty with homegrown Wills is that if it does not comply [...]
What is a Members’ Voluntary Liquidation?
A Members’ Voluntary Liquidation (MVL) is a voluntary form of liquidation commenced by the shareholders of a company that is solvent and so able to pay its debts. Once the company’s assets are sold and the debts and costs of the liquidation have been paid, the balance of monies available are distributed to the shareholders. [...]
AFL Successfully Appeals Tribunal Decision
AFL star player for the Greater Western Sydney Giants Toby Greene missed the team’s semi-final against Geelong, his team’s final game of the 2021 season, after he bumped into an umpire when leaving the field in the elimination final game against the Sydney Swans the previous week. At the disciplinary hearing, Greene was charged [...]