Considering Using Sequestration to Recover Levies? Think Again
“The only man who sticks closer to you in adversity than a friend is a creditor.” (Evan Esar) Body corporates face a familiar problem. Owners fall into arrears. Levies go unpaid. Legal costs mount. The temptation is to reach for the most forceful remedy available. Sequestration may seem like that remedy. If an owner will […]
Ponzi Schemes: Can liquidators claw back 600% of payouts?
Recent media reports of the MTI (Mirror Trading International) liquidators making repayment demands of investors highlight once again the dangers of falling for “too good to be true” investment schemes. The problem is that by their very nature, all pyramid schemes (including “ponzi” schemes) eventually fail, leaving the vast majority of investors with nothing but […]
Buying a Business? Make Sure the Seller Publishes Notice of the Sale
With our economy in trouble and the ongoing pandemic and lockdown damaging more and more businesses by the day, sales by distressed companies and traders are likely to rocket. If you are a prospective buyer here, be aware of one particular danger lurking in the wings for you. Follow this rule to protect yourself – […]