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
Despina firmly believes that being in the privileged position of a solicitor that she gives back to the community when she can. This has been transcended into her weekly radio show 'Talking Law' that is broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and has been going strong now since 2020. Despina talks about various hot topics at local, state and federal level, and answers the questions that ordinary Australians want to hear. And the best part, it is free. Despina is not paid for her time on air and she enjoys the fact she can give back to the community in this manner. Knowledge is power and her radio show is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life. Despina has a very big following on air and online with a facebook community page for the radio station and is always happy to talk with listeners off air.
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 in case you missed it live. We are now up to 255 episodes!!!
You can also join the Facebook community page for Radio 97 and join the community where questions are posed, and our on air segments are posted for all to view again after the on air segment. Just search 'Breakfast Radio 97' on Facebook and ask to join. It's free!
Catch us live on Radio 97 every Thursday morning at 8:30am (7.30am during Daylight Saving from October to March) on 104.1FM Gold Coast & 103.5FM Northern Rivers. Part of the Australia wide Super Radio Network across the country.
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 : 92
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