In Central Cleaning Supplies (Aust) Pty Ltd v Elkerton [2015] VSC 92, the Victorian Court of Appeal upheld an appeal and confirmed that a supplier was protected by the transitional provisions under the Personal Property Securities Act 2009 (Cth) (PPSA).
The matter highlights the need to review supply agreements and register any security interests under the PPSA. (more…)
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. (more…)
CAN A DIRECTOR’S CLAIM FOR UNPAID WAGES BE SET OFF AGAINST WHAT THAT DIRECTOR OWES TO THE COMPANY?
Once a company is placed into liquidation, section 556 of the Corporations Act (2001)(Cth) (Corps Act) sets out the order for payments of debts due and owing by the company.
We recently advised a client on the importance of entering into written, enforceable agreements with its customers.
Our international client had supplied stock over a number of years to an Australian-based customer. However, our client’s written supply agreement was entered into with a ‘group of companies’, described here in generic terms as follows (the ABC Group) and not with an actual legal entity, being either an individual or a company with an Australian Company Number (ACN). (more…)
What is the best way to enter into an agreement for the supply of services/goods?
A written agreement specifying the terms of trade should be exchanged between the parties.
Usually parties enter into business dealings in good faith, expecting the best of the other party in anticipation that all will benefit or profit from their new business venture. (more…)
DOES GST APPLY TO SETTLEMENTS OR JUDGMENTS OF COURT LITIGATED CLAIMS?
When parties enter into Terms of Settlement for a litigated claim, it is not in itself a taxable supply which attracts GST. (more…)
A joint venture is a business relationship between parties with a view to mutual profit or benefit.
It is widely used in projects where the parties can provide different skills for the purpose of an intended outcome, such as: (more…)
HOW DO YOU RECOVER A DEBT THAT REMAINS OUTSTANDING PAST THE SPECIFIED TERMS/DATE OF PAYMENT?
Each customer will respond in a different way to phone calls, demands, legal proceedings, entry of Court judgments and enforcement of judgments, which may be by way of bankruptcy proceedings on an individual, or liquidation/winding up proceedings on a company debtor. (more…)