Update contracts and register assets to protect against insolvency events
04 December 2018 | Construction & Infrastructure | Nicholas Achurch
It’s time to review and update your insolvent trading clauses and practices! Historically common law came to the aid of an asset owner needing to protect materials, plant and equipment delivered to a buyer which had not yet paid in full. Recent changes to the Corporations Act 2001 (Cth) assist such buyers in receipt of unpaid assets even though the buyers are potentially insolvent.