From 1 September 2020, a new law came into effect which changes the way statutory demands will work in practice.

This new change will have a significant impact on the way in which creditors act strategically when collecting debts from debtor companies.

In this video Brent Norling of Norling law discusses how the law has changed and the importance of appointing your own liquidator so you can get the best outcome as a business owner.

If you are involved in debt, either as a creditor or a debtor, take note of this change and act strategically in response to the change. Knowledge of this change will ensure you don’t miss new strict statutory timeframes.

You may also like

Who Pays the Insolvency Practitioner?
So an insolvency practitioner has been appointed. So who pays his bills? The creditors? The person who appointed? The shareholders? Or? In this video Brent Norling gives a quick rundown of who is required to pay the practitioner’s [...]
How Funds Are Distributed in a Liquidation
If you find yourself in the unfortunate position of being owed money from a company in liquidation, then this video is for you. When a company is liquidated there is a priority regime that must be followed when it comes to [...]
Collecting Company Debts: The Squeaky Wheel Strategy
If you are owed money from a debtor company, there are two reasons why you should consider initiating liquidation proceedings. However, commencement of liquidation proceedings is a great strategy to obtain payment from a debtor [...]

Page 1 of 17