by Guthrie Colananni Attorneys | Jul 26, 2022 | Company / Corporate / Compliance, Debt Recovery, Uncategorized
“… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly, grossly negligently or fraudulently. If they do, they risk being made personally liable.” (Quoted in the...
by Guthrie Colananni Attorneys | Jul 26, 2022 | Credit Law, Debt Recovery, Uncategorized
“How sharper than a serpent’s tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” – that’s been part of human culture since long before the dawn of history but be sure to observe all legal formalities. A recent High...
by Guthrie Colananni Attorneys | Feb 23, 2022 | Debt Recovery, Insolvency / Liquidation
“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses in these hard economic times – not taking robust steps to collect it could...
by Guthrie Colananni Attorneys | Jun 28, 2021 | Debt Recovery, Insolvency / Liquidation, Property
“Bankruptcy – a fate worse than debt” (Anon) One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and to take robust action to recover any arrears. As with any other creditor/debtor relationship however, trying to...
by Guthrie Colananni Attorneys | Jan 27, 2021 | Debt Recovery, Litigation
“Pyrrhic victory”, n. A very costly victory, wherein the considerable losses outweigh the gain, so as to render the struggle not worth the cost (Wiktionary) With our economic woes unlikely to abate any time soon, expect an increasing number of your debtors to find...
by Guthrie Colananni Attorneys | Dec 1, 2020 | Debt Recovery, Insolvency / Liquidation
“A small debt produces a debtor; a large one, an enemy” (Publilius Syrus, Roman writer) You are owed money by a debtor, whose “insolvent estate” is “sequestrated” (in the case of an individual or trust) or “liquidated” (in the case of a company or other...
