From 1 July 2021, the monetary threshold for determining whether a person (or business) acquires goods or services as a “consumer” under the Australian Consumer Law (ACL) is set to increase from $40,000 to $100,000. Currently, under the ACL, the definition of a “consumer” is a person (or business) who acquires goods or services if: […]
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Statutory Demands – back to being an effective means of collecting debt from a corporate debtor
What is a Statutory Demand? A statutory demand is an efficient and inexpensive legislative tool enabling creditors to demand payment of a debt that is due and payable to it by a company debtor. Importantly, it is the first step in the process of having a liquidator appointed by the Court to wind-up the company […]