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Debt recovery: What is a Writ of Execution?

9-March-2013 Commercial Disputes By admin

The most common mode of enforcing the judgment debt against an individual judgment debtor or a company judgment debtor is to issue a Writ of Execution. This is a direction to the Sheriff or Bailiff to attend a given address (usually the home address for...

Debt recovery: the steps to winding up a corporation

Commercial Disputes,Fraud and Insolvency By admin

Similar to bankruptcy proceedings against individuals, winding up proceedings are those brought against debtors that are companies. Winding up proceedings will generally only be brought against a company where the debt is in excess of $10,000,...

Debt recovery: What is a Creditor’s Petition?

8-March-2013 Commercial Disputes By admin

A Creditor’s Petition is the formal document filed in the Federal Court or Federal Magistrates Court seeking orders for the bankruptcy of the judgment debtor. The fee for a company to file a Creditor’s Petition is $2,915. For an...

Issuing a bankruptcy notice to an individual

Commercial Disputes By admin

If the judgment debt is for a substantial amount and the debtor is an individual, the creditor is entitled to enter a Bankruptcy Notice against the debtor. At present, a Bankruptcy Notice can be issued for any debt over $5,000. It is...

What is an Examination Notice?

7-March-2013 Commercial Disputes By admin

Although this is not a method to enforce payment of a debt, an Examination Notice can be a useful tool if you know little or nothing about your debtor. It will allow you to obtain information about a debtor’s financial position, including assets and...

Debt recovery: What is a Garnishee Order?

6-March-2013 Commercial Disputes By admin

If someone else owes money to the debtor, you, as the creditor, can apply for a Garnishee Order from the Court that enables that debt to be paid to you rather than the Debtor. A Garnishee Order is most commonly served on a financial institution to...

What are Instalment Orders?

Commercial Disputes By admin

Following your attempts to recover a debt, firstly through a Letter of Demand and subsequently after the debtor has been “served” the Statement of Claim papers, the court’s jurisdiction will come into play. The Statement of...