In a historical first female majority High Court Judgment, Bryant v Badenoch Integrated Logging Pty Ltd[1]saw all seven Judges unanimously uphold the decision to abolish the Peak Indebtedness Rule, and set in place the starting point for calculation of “all transactions” in a “running account”.

I have received a bankruptcy notice, what is it?

A bankruptcy notice is where a person or organisation (the creditor), is alleging by way of demand, that you (the debtor) owes them money. Effectively, the creditor is seeking to declare you bankrupt if you do not repay the debt or comply with the notice.

A bankruptcy notice is usually issued where a creditor has obtained a court judgement or where the judgement made against a debtor is $10,000 or more.

In the recent decision ofBadenoch Integrated Logging Pty Ltd v Bryant, in the matter of Gunns Limited (in liq) (receivers and managers appointed) [2021] FCAFC 64,the Full Court of the Federal Court of Australia abolished the use of the peak indebtedness rule in A

The COVID-19 temporary relief measures which applied to insolvency have largely ceased as of 31 December 2020 and now is the perfect opportunity for you to reassess your debt recovery options.

There are a number of debt recovery options available to you, depending on whether you are collecting an outstanding debt from an individual or a company.

Individual