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Published by Foez Dewan
Sep 20, 2018 in Insolvency

Respond to creditors’ demands, stat!

A company’s non-compliance with a statutory demand is the most common method of proving its insolvency in any winding up proceedings. Generally, if it does not make good the debt under the statutory demand within 21 days of service, the company will be presumed to be insolvent. What can a company do if it disputes the legitimacy of the debt? The basics – compulsory winding up and statutory demandsThe Corporations Act 2001 (Cth) (the...

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