JHK Legal Commerical Articles

AirBnB leaves a tenant AirBnBust

Posted By Clinton Bothma on March 23, 2017
AirBnB leaves a tenant AirBnBust

Landlords who do not want their residential properties used for short-term stays have recently been given the upper hand when the AirBnB ambitions of a couple of unlucky punters were swiftly put on ice in the recent decision of Swan v Ueker [2016] VSC 313 from the Supreme Court of Victoria. The what The respondents…

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How powerful is the Australian Taxation Office? Very, according to Directors Penalty Notices!

Posted By Reem Nassef on March 21, 2017
How powerful is the Australian Taxation Office? Very, according to Directors Penalty Notices!

A Directors Penalty Notice (DPN) is the Australian Taxation Office’s (ATO) response to non-compliant companies, where directors fail to arrange the payment of company taxes and employee superannuation. After years of cracking down on companies who repeatedly fail to meet their reporting obligations, defaulting on payment arrangements or experiencing escalating debt with no real prospects of reducing liabilities and most importantly those who revert to phoenix activities, legislation has enabled the ATO to recoup and sanction directors.

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Case Summary – Sanderson As Liquidator Of Sakr Nominees Pty Ltd (In Liquidation) V Sakr [2017] NSWCA 38

Posted By Sarah Jones on March 15, 2017
Case Summary – Sanderson As Liquidator Of Sakr Nominees Pty Ltd (In Liquidation) V Sakr [2017] NSWCA 38

The Court of Appeal has recently handed down a decisive and ground-breaking judgment in the case of Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liquidation) v Sakr [2017] NSWCA 38 with respect to liquidator remuneration.

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What happens when you go bankrupt?

Posted By Patrick Hanrahan on March 9, 2017
What happens when you go bankrupt?

In today’s volatile economy, where increasing financial pressures are being faced by Australian businesses, personal bankruptcy appointments continue to rise. Often, the financial struggle in ensuring that all debts are paid to creditors can be a tough and gruelling process with unsuccessful results. What follows is usually the appointment of a bankruptcy trustee to the debtor whether voluntarily or as sought by a creditor. If you find yourself in this predicament, then it is important that you understand the implications of being bankrupt including some of the limitations that will be placed on you whilst bankrupt.

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Everything a Small Business Needs to know about Personal Guarantees

Posted By Hayley Tibbie on February 14, 2017
Everything a Small Business Needs to know about Personal Guarantees

A personal guarantee is a written promise to guarantee the liability of one party for the debts of another party. Commonly, personal guarantees are given by directors and shareholders of companies to personally guarantee the payment of money or obligations on behalf of their company.

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Tracing: A remedial process to capture an unfaithful trustee

Posted By Paul Scagliotti on January 19, 2017
Tracing: A remedial process to capture an unfaithful trustee

Tracing is a complex and often misunderstood area of trust and property law. It is predicated on retrospective use of misapplied trust funds. It potentially allows the beneficiary of a trust to get trust funds back when the situation seems bleak.

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Why a full deposit is better than waiting for the balance…

Posted By Belinda Pinnow on January 19, 2017
Why a full deposit is better than waiting for the balance…

It’s fairly common in real estate contracts to see the deposit broken down into two components, an initial deposit on signing (or within a couple of business days of signing) and then the balance deposit on the satisfaction of finance, other conditions precedent, or just simply later in the contract negotiations. The standard form contracts in Queensland contain a condition that allows for the Vendor to claim the balance deposit as a part of its damages in the event that a Buyer defaults on the contract terms.

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Deciding whether to be “naughty” or “nice” for 2017 – some things to consider if you are a company director

Posted By Belinda Pinnow on January 9, 2017
Deciding whether to be “naughty” or “nice” for 2017 – some things to consider if you are a company director

While the saying often goes that “nice people finish last” before you decide to indulge yourself in the New Year, spare a thought for your 2016 actions and ensure that a bit of further indulgence doesn’t end with you being unable to manage your company.

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Can I lodge a caveat on real property if someone owes me money?

Posted By Alicia Auden on January 4, 2017
Can I lodge a caveat on real property if someone owes me money?

JHK Legal is often asked the question “I have a credit agreement in place with a client and they have not paid their invoices – can I lodge a caveat against their property or the guarantor’s property?” This article is a guide of what you may be able to do in the above situation in Queensland. It is not a substitute for legal advice. If you have any questions or concerns we suggest that you contact JHK Legal for further information.

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So you’ve received a statutory demand…

Posted By Alicia Auden on January 4, 2017
So you’ve received a statutory demand…

A creditor can serve a statutory demand for payment of a debt/s pursuant to section 459E of the Corporations Act 2001 (Cth) (“the Act”) if the debt/s is/are due and payable to the creditor by the company and the total amount must be at least the statutory minimum (presently $2,000.00). The company that is served with the statutory demand has twenty-one days from service in which to respond.

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Insolvency

Insolvency

Worried you might lose your business, your livelihood or your home?

If you are the owner or director of a company that cannot meet its financial obligations you might be trading insolvent and you are right to be very concerned.

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What Is Insolvency?

What Is Insolvency?

Insolvency is a term that applies to both companies and to individuals who can no longer meet their financial obligations, however personal insolvency (also known as bankruptcy) only applies to individuals.

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The 7 mistakes people make when they hire an insolvency lawyer

The 7 mistakes people make when they hire an insolvency lawyer

If you’re not sure whether you need to hire an insolvency lawyer or not…it probably means you do.

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