I’ve just received an application to appoint provisional liquidators
An application to appoint provisional liquidators is a document that means the person or company who sent it to you has arranged a court hearing to have your company wound up but is concerned that company assets may be at risk and should be protected until the application is heard. Winding up a company’s financial […]
I’ve just received a Payment Claim
If you have received a payment claim from a builder or contractor who is performing building and construction work for you, or for related goods and services under a construction contract, it means they are seeking a payment from you for the work they have done recently, or the related goods and services that were […]
I’ve just received a Notice of Termination of Lease
If you have received a notice of termination of your commercial or retail shop lease, it means the lessor (landlord) is seeking early termination of the lease. This is clearly a very serious matter requiring your immediate attention if your business is going to be able to continue to trade from the leased premises (property).
Liquidated damages and penalties
What are liquidated damages? Liquidated damages is a sum of money agreed upon by parties at the time of contracting that can be recovered in the event one party breaches the contract, and the breach leads to the other party suffering loss or damage. The sum is supposed to reflect the best estimate of actual […]
Establishing a Barnes v Addy claim
Where there has been a breach of trust or fiduciary duty, the party who has suffered loss and damage may be able to pursue their claim against the party who has caused the breach; see Fraud, Business & White Collar Crime. However, the injured party may also be able to pursue their claim against third parties […]
What is the role and responsibility of a director in Australia?
The role of a company director is to govern a company on behalf of its shareholders or members. Arising from this role, and the powers that come with it, are a variety of duties that directors owe to the company. In essence, a director is bound to exercise their powers in the best interests of […]
