In this segment we talk about a debt recovery process using a Creditors Statutory Demand notice under the Corporations Act 2001 (Cth), which means this applies in every state and territory of Australia. Given the current state of the economy, financial distress in the market and the number of companies that have gone bust over the last few months, this is a segment for you to listen to, whether you are pursuing an unpaid debt or owe the unpaid debt to someone else. This debt recovery process has been around for decades however, has taken an interesting twist again with a recent case changing the goal posts and confirming that service of such notice on a debtor can be done electronically. Thus if a company owes a debt of more than $4000, and is served with such a notice, that company can be deemed insolvent and wound up in 21 days if the debt is not repaid or dealt with in that time period. Pretty serious stuff! There are ways to set the notice aside, however from now on you had better ensure your junk box in your email Inbox is monitored at all times, just in case you happen to get one of these. And if you do happen to receive such a notice, be sure to obtain legal advice immediately. The notice will not of itself magically disappear.
https://www.youtube.com/watch?v=A2BCrhxb3Jo
The show was designed to give back to the community which Despina did in droves. Her weekly radio show was broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and had a substantial following since 2020. Despina talked about various hot topics at local, state and federal level, and answered the questions that ordinary Australians want to hear. And the best part, it was free.
In 2024, due to programming changes within the radio station itself, Despina then moved her radio show to being solely online on her Youtube channel: Despina Priala
Each week she brings another insightful episode of Talking Law for her loyal listeners and the greater Australian community.
Knowledge is power and Talking Law is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life.
All episodes of Talking Law with Despina are uploaded on the Priala Legal website and onto our YouTube channel here: https://www.youtube.com/channel/UCWmG7z-wIbsHY9KhFfrrWwQ
If you have any question you would like answered please contact us and we will do our best to answer them for you.
DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.
Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.
Updated : 6th July 2023 | Words : 231 | Views : 302
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