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$20k court wind-ups and 6 months to respond

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…

s459R does not apply to appeals

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…

1 order, 1 proceedings

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…