A company is insolvent if it is unable to pay its debts as and when they become due and payable. A company’s insolvency is calculated upon: The cash flow test; and then The balance sheet test. There is a difference between company …
What are Insolvent Transactions?
Insolvent transactions are one of the elements the liquidator will need to prove if there is an unfair preference claim or an uncommercial transaction claim. The elements of insolvent transactions are: There must be a transaction of a …
Uncommercial Transactions Claims and how to Defeat Them
Uncommercial transactions claims are one of the types of voidable transactions in company insolvency and are outlined at section 588FB of the Corporations Act 2001 (CTH) (“the Corporations Act”). A transaction of a company is an uncommercial …
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Unfair Preference Claims and how to Defeat Them
Unfair preference claims are one of the types of voidable transactions in company insolvency and is outlined at section 588FA of the Corporations Act 2001 (CTH) (“the Corporations Act”). An unfair preference occurs when: There is a …
Subcontractors’ Charge – Construction Debt Recovery
A subcontractors’ charge under the old Subcontractors’ Charges Act 1974 (Qld) has been repealed and replaced with Building Industry Fairness (Security of Payment) Act 2017 (Qld) (“BIFA”). The provisions of the repealed legislation have been …
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Making a Payment Claim – BIFA (QLD)
A payment claim process using the old BCIPA - Building & Construction Industry Payments Act 2004 (Qld) has been repealed and replaced with Building Industry Fairness (Security of Payment) Act 2017 (Qld) (“BIFA”). The provisions of the repealed …
Enforcement Warrant for Redirection of Debts
An enforcement warrant for redirection of debts is an enforcement option pursuant to the Uniform Civil Procedure Rules 1999 (QLD) (“UCPR”). An enforcement warrant for redirection of debts is a way of enforcing a judgment, enforcing a registered …
Unpaid Rent Arrears in Queensland
Unpaid rent arrears in residential property can have a serious impact on landlords’ cash flow. The popular misconception is that landlords are all wealthy property tycoons – but this is simply not true. A vast majority of investors are small …
Enforcement Hearing & Statement of Financial Position
An enforcement hearing and statement of financial position are ways that provide the judgment creditor with the required information to request an enforcement warrant pursuant to Chapter 19 Part 2 of the Uniform Civil Procedure Rules 1999 (QLD) …
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Enforcement Warrant for Redirection of Earnings
A warrant for redirection of earnings is an enforcement option pursuant to the Uniform Civil Procedure Rules 1999 (QLD) (“UCPR”). An enforcement warrant for redirection of earnings is a way of enforcing a judgment or enforcing a registered QCAT …
Enforcement Warrant for Seizure and Sale of Property
A warrant for seizure and sale of property is an enforcement option pursuant to the Uniform Civil Procedure Rules 1999 (QLD) (“UCPR”). A warrant for seizure and sale of property is a way of enforcing a judgment or enforcing a registered QCAT …
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Recovering Outstanding Body Corporate Levies
Are you a body corporate with outstanding body corporate levies from a lot owner? A lot owner in a body corporate scheme is required to pay an agreed amount annually in owners’ contributions and levies. If lot owners do not pay these …
How Long can a Debt be Chased in Australia?
Have you ever wondered how long can a debt be chased in Australia? In most states (except NT) the limitation period for most debts is six (6) years. This is contingent on a number of different factors and so it is vital that you get the …
Recovering Debts or Money Owed
Do you need to collect debts or money owed to you? You can recover debts or money owed in the following ways: Negotiating with the debtor; Mediation or alternative dispute resolution; Filing a claim in the Court with jurisdiction; …
Winding Up Order – How to Wind up a Company
A winding up order is an order from the Court ordering that a company be wound up in insolvency. Section 459P of the Corporations Act 2001 (Cth) ("Corporations Act") says that a creditor can apply to the Court for a company to be wound up in …
