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BuildingCommercialConstructionInsolvencySecurity of Payments
1 December, 2023

Using DOCAS To Preserve SOPA Claims In Administrations?

Commercial Context Construction companies are often thinly capitalised and do not hold significant real property or other assets.  Often their most significant (and sometimes their only) assets are unpaid progress claims arising from construction work undertaken prior to entering into external administration. Progress claims however can be difficult to recover.…
6 November, 2023

The PJC’s Corporate Insolvency Report

On 12 July 2023, the Parliamentary Joint Committee on Corporations and Financial Services (PJC) released a comprehensive report on corporate insolvency in Australia. This report made 28 recommendations focused on addressing various issues in the current Australian corporate insolvency space and raised some issues in the personal insolvency sector. The…
4 April, 2023

Voluntary Winding Up or Deregistration?

Once a company has stopped trading, directors can wind up its affairs through either a members’ voluntary winding up or a deregistration.  This article explains each process as well as their benefits and drawbacks. Members' voluntary winding up Overview of the process Voluntary winding ups commence when the shareholders of…
2 December, 2022

Director Penalty Regime

Any moratoria in place since COVID-19 is now at an end. The Australian Tax Office (ATO) has reverted back to recovering outstanding tax liabilities. If you are a director of a company, it is important that you are aware that the ATO can, in particular circumstances, recover unpaid company tax…
13 March, 2017

Creditors to be vigilant when using the statutory demand procedure to enforce an Adjudication Certificate

IntroductionDuring the process of obtaining payment under the Building and Construction Industry Security of Payment Act 1999 (NSW) (SOP Act), a Contractor (or Subcontractor) may, after obtaining an adjudication certificate and filing the certificate in the court of competent jurisdiction, serve a statutory demand on the Principal (or Contractor) demanding…