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What is a statutory demand?

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A creditor’s statutory demand for payment of a debt (Form 509H) is the corporate equivalent of a bankruptcy notice. It requires a company to pay a debt within 21 days or apply to a court to set the demand aside. A company that does neither will be presumed insolvent and the creditor will then be […]

What happens if a liquidator is appointed to my company?

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The liquidator is required to act in the interests of the creditors. He/she takes control of the company and its assets and manages its affairs without reference to the directors. He/she will sell the assets and may pursue any of the company’s claims against others – including its directors! The liquidator’s fees are payable from […]

If the demand is set aside, is the debt extinguished?

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No. If you successfully set aside the demand, it is open for the creditor to commence court proceedings against you in the usual way. In an application of this sort, the court is only looking at whether there is a genuine dispute or a genuinely asserted offsetting claim – it does not finally decide who […]

Can I recover my costs from the creditor?

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You will usually be entitled to an order that the creditor pay your costs if you are successful in setting aside the demand. These costs are assessed in accordance with a legislative scale and are usually less than what you pay us.

When should I contact you?

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Immediately. If you don’t pay the debt within 21 days or apply to the court to set it aside, you cannot later challenge the demand. The sooner you contact us, the more options we will be able to offer you. Whilst we will always do our best to help you, it takes time to prepare […]

On what grounds can I challenge a demand?

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You may be able to challenge a demand if: you dispute you owe the creditor the money; the creditor owes you money (i.e. an offsetting claim); if the demand is defective and that defect results in a substantial injustice (for example, the demand does not clearly state the amount you must pay); or for some […]

What does a retirement village contract usually cover?

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The contract will stipulate the terms and conditions of your right of occupation and your financial commitments, including: an accurate description of the premises; your right to access any common facilities and village services; payment of a capital sum by you upon entering into the contract; return of any capital to you when you cease […]

When can I apply to remove a disqualification?

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If you have been disqualified from driving for more than 3 years, you can apply to the Court to have your disqualification removed after the relevant waiting period has elapsed: Disqualification period Waiting period 3 – 6 years 3 years 6 – 20 years Half the disqualification period 20+ years or life 10 years