Thread: Receivership advice???

Check on the ASIC website, or ring ASIC (there is a 1800 number). They will tell you if the company is in receivership and who the receiver is.

Did you pay in cash? If so you are probably stuffed.

If you have paperwork (receipt) then you can file a proof of debt with the receivers.

HTH
David

(That is from my Missus - she is a para-legal, but not a lawyer, and she says the laws might be different in WA from SA,......)

thanks david
i paid by bank transfer but not into an account with the business name but into an account under his name so i presume his personal account.
the company is in victoria and obviously i'm in perth so i'm kinda at a loss as to what to do and where i stand, though i'll ring the ASIC tomorrow.

sorry for the mumble below, but i just visited the ASIC website and pulled up this on the company. Does this mean they are not in receivorship?


Extracted from ASIC's database at AEST 22:07:36 on 23/09/2009
Name KOOL IDEAS PTY LTD
ACN 112 570 288

ABN 82 112 570 288

Type Australian Proprietary Company, Limited By Shares
Registration Date 19/01/2005
Next Review Date 19/01/2010
Status Registered
Locality of Registered Office Epsom VIC 3551
Jurisdiction Australian Securities & Investments Commission



These are the documents that ASIC has most recently received from or in relation to this organisation. Page numbers are shown if processing is complete and the document is available for purchase.
Date Number Pages Description
27/04/2009 025486928 22 484 Change to Company Details
484G Notification of Share Issue
484O Changes to Share Structure
484N Changes to (Members) Share Holdings
27/04/2009 025486927 6 2205B Notification of Resolution Relating to Shares Convert Shares
Into Larger or Smaller Number
05/03/2009 025442411 2 484B Change to Company Details Change of Registered Address


Complete Document Listing
Document Listing Between Dates
Exclude form 7053A (Disclosure notice for disclosing entity)
Start Date 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2005 2006 2007 2008 2009

End Date 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990

Taff,

Spudboy is correct in that if in receivership, you will need to lodge a proof of debt with the receiver. Sometimes you may also be able to lodge a proof of debt against an individual as for small businesses the owner is usually a guarantor of the debts/loans of the business. So when it goes under the individual may need to declare personal bankruptcy as well.

Check with ASIC first, then speak to the receiver if one has been appointed. But don't expect a cheque in a hurry, and then not likely to be 100c in the $. If not in receivership, a gentle reminder that that could be the next port of call, or lodging a claim in the small claims tribunal, may prompt some action on their behalf.

Good luck

Taff i have had a few companies go belly up when they owed me money if you have proof you paid him in cash (EFT included) find out who the receivers are and lodge a claim . A letter to them with the details including a copy of your recipet, if he is trying to hide money from the receivers he is committing an offence and they take a very dim view may even have him charged if bad enough It doesnt cost you anything but time to register the dept in one case i was owed over $60,000 got less than $0.05 in the dollar back dont let the bugger get any with anything if you can help it.

P.S if it is an incorporated company its covered by fed law not state.

Bugger - is this the AC company???

Btw - are you a tiler? Interested in small jobs?

If a receiver or administrator have been appointed, it'd show up pretty quickly at ASIC. Is it plausible they've gone belly up in the last couple of days?

Keep the formal correspondence, statements, demands etc going - but addressed to the individual concerned. The receiver will trip over them. Your debt needs to be in the company records.

Have you got a written sale agreement or contract? Who with exactly? (Tip: adress all these in future to The Secretary, xyz Pty ltd. Personal bankrupcty is a great motivator...)

If the formalities aren't there, you might be able to sue him personally for breach of contract. You need to be able to argue your agreement was with him personally, not the company.

However, the receiver might argue otherwise, and block any preferential payment to you direct.

You could also spend a few $$ with Dunn & Bradstreet - and others - & do a credit reference search on both him & the company. If you see a string of summonses against him & the company, realistically you won't get your money back. Certainly not all of it, & not soon as mentioned above.

Regards
Max P