#SVVoidables by Matthew Hudson
This blog is designed to capture the large volume of my LinkedIn posts. To follow me on LinkedIn search #SVVoidables.
Mix of my LinkedIn Articles from Sunday 22/3/2020 and Monday 23/3/2020 … BREAKING 22/3/2020: The government has just announced (in its stimulus package) an increase to the threshold at which a creditor can take action to initiate insolvency from $2,000 to $20,000 and giving companies six months instead of 21 days to respond. It probably…
In January 2020 the COVID-19 coronavirus was declared a Listed Human Disease, meaning the Biosecurity Act 2015 (Cth) can now be used by Government to its full effect. It means (amongst other things) a person can be directed or forced to self-isolate for an indefinite period of time. In the context of the insolvency profession…
Due to a very recent case, the ATO now (I believe) has a big problem in defending unfair preference claims from Liquidators. Why’s that? The recent Full Federal Court case of ‘Solar Shop‘ found that despite Solar Shop being under a formal payment arrangement with the ATO and despite not being in breach of its…
A quick FYI, if you need to appeal a decision from the court that set aside a statutory demand (and the wind-up application) YOU DO NOT need to apply to extend the period of the statutory demand under s459R of the Corporations Act 2001 (Cth). The reasoning of today’s case was that the decision to…
Do you know what the registered office of your company is? If it is your accountant or lawyers address, what do you do if they change address or no longer wish to act for you? Mark is in semi-retirement mode, after a longer career in the law. He’s decided to close down his city practice,…
When applying to set aside a statutory demand, don’t just rely upon the work of the court registry! Today’s case, although arbitrary and kind of unfair, is a stark reminder of how courts apply form over substance when you are trying to save your company from being wound-up by the court. Company A was issued a statutory…
In today’s case this is precisely what happened, when AXL received a statutory demand (SD) from a creditor. Remember, when you receive a SD, you have 21 days to serve on the creditor an application to set it aside. Alternatively, you could pay the debt, or appoint formally an insolvency practitioner of your own choosing.…
No matter the size, reputation or ‘unquestionable solvency’ of a company, they still have to comply with a statutory demand (SD) – that is the message from the Victorian Supreme Court last week. The case is A G Coombs v M & V Consultants [2018] VSC 468. A G Coombs, a very large private company, has turnover…
An extension of time to comply with a statutory demand can even be given by a Court of Appeal (“CA”), thanks to a case published 2 days ago. Complete Hire had failed in the WA Supreme Court to set aside the statutory demand issued against it by Terra Firma, so they appealed to the WACA. However,…
You may bring one proceedings to set aside multiple different statutory demands, according to a decision handed down on Friday by the Full Court of the South Australian Supreme Court. This would save you significant costs, time and anxiety! The case involved statutory demands (“SD”) being served by Heirloom on Sante for c$235k and by Dandelion on Sante for…
Travis Mitchell, Barrister at the Victorian Bar
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#SVVoidables by Matthew Hudson 