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When is a Debtor “Insolvent”? A Case of Arrear Maintenance Illustrates

When is a Debtor “Insolvent”? A Case of Arrear Maintenance Illustrates

by Guthrie Colananni Attorneys | Dec 1, 2020 | Debt Recovery, Family Law, Insolvency / Liquidation

“To my mind the best proof of solvency is that a man should pay his debts” (quoted in the judgment below) If you are owed maintenance you have a variety of enforcement options open to you and should ask your lawyer for advice on which is the best for your particular...
Your Body Corporate and Arrear Levies: To Sequestrate or Not To Sequestrate?

Your Body Corporate and Arrear Levies: To Sequestrate or Not To Sequestrate?

by Guthrie Colananni Attorneys | Dec 1, 2020 | Debt Recovery, Insolvency / Liquidation, Litigation, Property

“…aye, there’s the rub” (Shakespeare) Levies are the lifeblood of a sectional title scheme, and the Body Corporate has a duty to recover arrears from defaulting owners. It has the power, in addition to following standard debt collection procedures and perhaps...
Lending Money Repayable “On Demand”: Beware Prescription!

Lending Money Repayable “On Demand”: Beware Prescription!

by Guthrie Colananni Attorneys | Dec 1, 2020 | Credit Law, Debt Recovery, Litigation

“…prescription started its deadly trudge on the day the loan at issue in these proceedings was advanced” (extract from judgment below) You will know that most debts prescribe (become unclaimable) after 3 years, so as a creditor you need to know exactly when it starts...
Suing an Insolvent Debtor – Can You Recover from his Trust?

Suing an Insolvent Debtor – Can You Recover from his Trust?

by Guthrie Colananni Attorneys | Dec 1, 2020 | Debt Recovery, Insolvency / Liquidation, Litigation, Trusts

Your debtor owes you a fortune, but when his estate is sequestrated there is nothing in his own name. However you find out that he is trustee of a wealthy family trust with lots of assets that you think are really his – can you recover from his trust? The answer is...
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