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Recorded Webinars

Recorded Webinar: Strata Land Holdings and Insolvency: Risks in Buying and Selling Businesses (Qld)

It is an unfortunate consequence of the pandemic that many businesses have struggled and are heading to insolvency. While now may seem a good time to buy for those interested in acquiring a business, there may be more issues below the surface that prospective purchasers need to be

Date/Time

About the Webinar

It is an unfortunate consequence of the pandemic that many businesses have struggled and are heading to insolvency. While now may seem a good time to buy for those interested in acquiring a business, there may be more issues below the surface that prospective purchasers need to be aware of before committing to the deal – particularly when it comes to strata land holdings. This session shall explore the intersection between insolvency and Queensland strata/body corporate laws and what practitioners should know when dealing with sale of business with strata land holdings including:

  • How best to structure ownership of land holdings and body corporate management agreements in strata titles in Queensland (and what are the risks)
  • Problems with body corporate (strata) laws in Queensland when it comes to insolvency, restructuring and what potential purchasers should be aware of including statutory liability for levies (registered owner, registered mortgagee and subsequent and past owners)
  • What happens when the business owner is insolvent and does not pay (including difference between insolvent individuals, corporate owners (DOCA, VA or liquidation)
  • What happens when a body corporate (strata owners corporation in other states) is insolvent and does not pay (issuing more levies, restructuring, application of Corporations Act insolvency and restructuring laws)
  • What is a “relevant body corporate debt” which excludes an owner from voting or nominating at a general meeting of a body corporate.
  • When nominating a person to a committee:
    • Who can nominate?
    • Who is not eligible to be nominated?
    • When is a nominee an “associate” of a person who owes a relevant body corporate debt?

Presented By

Peter Mills
Special Counsel, LawSolve Brisbane, Qld

Peter’s area of expertise for the last 18 years has been in Personal Property Securities Act (2009) (PPS), Creditor Recoveries, and Insolvency.

Peter is a recognised expert in the PPS and its interaction with other laws and registers (including insolvency under the Corporations Act (Cth)).

Peter is admitted as a lawyer in both Australia and Papua New Guinea and regularly advises interstate and overseas clients. His extensive client base includes controllers (voluntary administrators and liquidators), trade creditors and suppliers, accountants, SME’s, subsidiaries of domestic and international companies, and other law firms (domestic and international).

Peter regularly advises clients as to the PPS registration process and how to minimise documentation and record keeping, saving tens (sometimes hundreds) of thousands of dollars in the PPS registration process. He also advises on the recovery of assets and debts, despite liquidators being appointed, by using the PPS instead of the courts.

Who Should Attend?

This webinar is suitable for lawyers practising in property law in Queensland. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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