What are the grounds to set-aside a statutory demand?
Under the Corporations Act 2001 (Cth) there are 4 grounds that can be relied upon in an application to set-aside a statutory demand.
Creditor’s statutory demand for payment of debt
In this article we look at perhaps the most powerful weapon in the creditor’s arsenal: the statutory demand for payment of debt.
I received a Director Penalty Notice: what do I do?
Receiving a Director Penalty Notice (DPN) will be a confronting experience for any company director.
What ASIC v Plymin tells us
The case of ASIC v Plymin is significant for lawyers because it sets out a list of indicators that can help us understand when a company will be found to be insolvent. The general rule in law is that company insolvency is proven by a cash-flow test not a balance sheet test.
Business Mindset
When a business hits rocky times the directors of SMEs need to develop a clear business strategy. What is your end game? Business continuity or business exit?