by Guthrie Colananni Attorneys | Feb 26, 2024 | General Interest, Insolvency / Liquidation
“MTl’s business clearly amounted to an unlawful ponzi-scheme, i.e. a fraudulent investing scam promising high rates of return to investors and generating returns for earlier investors with investments taken from later investors.” (Extract from the MTI judgment)...
by Guthrie Colananni Attorneys | Sep 27, 2022 | Debt Recovery, Insolvency / Liquidation
You should always take as much security for your claims as you possibly can before advancing credit or lending money to a debtor. That’s because if your debtor fails and is “liquidated” (if a corporate) or “sequestrated” (if an individual), without security you will...
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 | Jul 27, 2021 | Company / Corporate / Compliance, Insolvency / Liquidation, Litigation
“Creditors have better memories than debtors” (Benjamin Franklin) In these hard times of pandemic and economically destructive unrest, an unfortunate number of businesses face collapse, and many will opt for the “first aid for companies” option of business...
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 | 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...
