You may know someone who is having difficulty managing their financial affairs and has debts and liabilities which they cannot meet. They may be considering declaring themselves bankrupt. Before they do so, consideration should be given to some alternatives which are available aside from becoming bankrupt and which we have outlined below. Informal agreement An […]
Buying a commercial property (such as a warehouse, office building or retail space) is more complicated than buying a residential property. There are complex contract terms, detailed planning information and additional legal and commercial implications if the premises are leased. In this article we set out some of the key issues in relation to buying […]
A company constitution is usually drafted in a standard format and does not provide protection for shareholders in the event of a dispute between them or where issues arise not covered by the constitution. A shareholder agreement, which properly outlines the steps to be taken in the event of disputes and certain circumstances arising, can […]
If you are a small business owner, there is a good chance that at some point you will consider suing someone to recover a debt, seek damages for a breach of contract or to resolve an employment dispute. If you are considering commencing a legal action, it is important to understand the basic procedures involved. […]
The recent death (or purported death) of Gerald Cotton, former Chief Executive Officer of Canadian cryptocurrency exchange company, Quadriga CX, emphasises the importance of planning your electronic after-life. Mr Cotton’s death in India at the age of 30, has not only raised suspicion as to its authenticity (and allegations of an exit scam), but reiterated […]
A statutory demand is a useful way to exert pressure on a company to force it to pay its debts. However, a creditor using a statutory demand to quickly recover a debt can run into trouble if the legal requirements regarding the form and wording of the statutory demand are not complied with. Defects in […]
Superannuation in Australia is governed by the Superannuation Industry (Supervision) Act 1993 (Cth) (SIS Act) and Income Tax Assessment Act 1997 (Cth) (ITA Act). Superannuation is a tax-effective way to save for your future. The SIS Act provides for the formation of a Self-Managed Superannuation Fund (SMSF). These funds are subject to strict compliance requirements […]
When commencing a business venture, it is necessary to consider the most appropriate type of business structure to put in place. Different business structures have different benefits and disadvantages. This article looks at companies – how to set one up and the pros and cons of a company structure. Key features A company is a […]
If you are considering buying a business there are many things you need to do from a legal, financial and general business perspective. Getting the right advice from the start is important. The structure of and issues involved in the sale are quite different if you are buying the business assets only, compared with the […]
Buying a property can often be an intimidating process, especially at auction where you are competing with other buyers and there is no cooling off period. Many properties are sold at auction, particularly in a rising market, so it is important for buyers to understand the processes involved so they can bid confidently on the […]