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Company fails to set aside creditor’s statutory demand for payment of debt when application filed late

During 2020, the Commonwealth Government introduced restrictions on the issuing of creditor’s statutory demands for payment of debt to debtor companies, increasing the threshold for debts from $2,000 to $20,000 and the time for compliance from 21 days to 6 months.
  • 7 Sep 2021

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New laws in flight to combat the rise of the phoenix

The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) is in full flight, which has put in place key changes aimed at enhancing disruption of phoenix activity and powers to prosecute directors and other professional advisors who engage in or facilitate phoenix activity.  
  • 29 Apr 2020

Blog

Insolvency Laws to change amidst unprecedented times

The Federal Government has announced proposed changes to insolvency laws to assist with efforts to help vulnerable Australians and businesses in these unprecedented times.  
  • 23 Mar 2020

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