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Published by Andrew Lacey
May 4, 2021 in Insolvency

Time is of the essence: Creditor’s Statutory Demands

A recent decision of the Supreme Court of NSW (In the matter of Wetherill Park Holdings Pty Ltd [2021] NSWSC 282), handed down on 25 March 2021, serves as an important reminder of the importance of acting quickly when served with a Creditor's Statutory Demand (CSD) and the potentially disastrous consequences of ignoring a CSD, even where the underlying judgment is set aside. What is a CSD?A CSD is a legal document by which a creditor is able...
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