Published on 28 May 08
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
The Commissioner often uses a creditors statutory demand and winding up proceedings to attempt to collect unpaid taxes from companies. A company must act very quickly if it wants to challenge a statutory demand or defend a winding up proceeding brought by the Commissioner. One option may be to appoint a voluntary administrator. This paper covers:
- statutory Demands - what are they and how to deal with them
- winding Up Applications - what happens and how you can defend one, if at all?
- why company directors should consider appointing a voluntary administrator if faced with winding up proceedings
- applications under section 440A of the Corporations Act to adjourn a winding up application.
Chris Wilkinson ATIA is an Associate at Brown Wright Stein Lawyers. Chris practices in the areas of insolvency, tax and commercial litigation. Taking a holistic approach, Chris works collaboratively with his clients’ network of business advisors to ensure the best commercial outcome. Chris successfully acts for creditors, debtor companies and directors of debtor companies in relation to statutory demands, winding up proceedings and voluntary administrations
Current at 28 May 2008 Current at 26 June 2008