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Insolvency

CommercialInsolvency
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…
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CommercialInsolvencyLawTax
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…
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Insolvency
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…
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