Click the link below to download our February 2018 newsletter which considers:
- the reduction of the term of bankruptcy to one year
- registering a security interest for professional services
- guarantees – paying out the creditor and taking their security
- garnishee notices – obtaining judgment against the garnishee
- notary public services now on offer from SRM Lawyers
SRM Lawyers Newsletter – February 2018
Garnishee Orders are a form of enforcement action that can be used for the recovery of debts.
Ordinarily, a court-ordered judgment is required. However, the ATO can issue a garnishee notice in relation to outstanding tax debts without a court judgment being entered. Continue reading
Situations can arise where a payment is made by one party to another party by mistake. This occurs, for example, where a debtor makes a payment to the incorrect entity within a group of companies, a bank remits funds to the account of an unintended recipient, or a finance company makes payment to a supplier of equipment based upon forged invoices. Continue reading
The judgment of Independent Contractor Services (Aust) Pty Limited ACN 119 186 971 (in liquidation) (No 2)  NSWSC 106, delivered on 23 February 2016, held that a liquidator appointed to a company, which acts solely as the corporate trustee of a trust, must:
1. approach the Court to obtain approval of the liquidator’s remuneration and the liquidator’s disbursements (which the liquidator has a right of indemnity for in priority to trust creditor claims); and
2. distribute trust assets to creditors equally, including employee claims, with no special priority as set out in the statutory order of priority codified by section 556 of the Corporations Act 2001 (Cth).
It could happen to you.
You will only discover you have been dealing with a purple fictitious character after you have provided the service/delivered the goods and not been paid.
Below is a checklist of what to do when entering into any agreements. Continue reading