In the post-GFC environment, pressure remains on businesses to maintain liquidity and compete. However sometimes despite their best efforts, company directors have to make the hard decision to place their company into voluntary administration.
The Building and Construction Industry Payments Act regulates payments and payment disputes for all commercial construction contracts in Queensland. To gain protection under the Act and ensure you receive payment for work undertaken, you must adhere strictly to the Act’s provisions and procedures.
In certain circumstances a contract will be legally enforceable despite not having been signed by one or more of the parties to the contract. It is important to understand your rights and obligations under a contract and when a legally binding agreement has been reached.
With a number of commercial tenants falling into financial difficulty in recent times, it is important for commercial landlords to understand their rights under a lease and the options they have available to them should their tenant become insolvent or enter administration.
A failure to draft a will, or amend an existing will when your circumstances change, can lead to serious consequences and emotional and financial hardship for your family and loved ones. For peace of mind, a valid and up-to-date will should be prepared to ensure your estate is dealt with in accordance with your wishes.
On 12 November 2016 changes to the Australian Consumer Law come into effect regarding what will be considered an unfair contract term in contracts with small businesses.
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.