Recent court decisions have held that a guarantor may not be held liable under a guarantee if it can be proved that the terms of the contract were changed without notifying the guarantor.
The Forge decision has provided direction on how to determine whether a lease is not a PPS lease under section 13(2) of the Personal Property Securities Act 2009 (Cth) and what the court will take into account when determining a fixture.
Debt collection can be an uncomfortable process for all parties involved. It is therefore important for businesses to understand how to protect their interests and to minimise their exposure to bad debts and debtors.
A creditor’s Statutory Demand is an effective tool used by creditors to compel a debtor company to pay its outstanding debts.