Statutory demands: restructuring doesn’t stop the clock

Mark Wilks and Brooke Egan of Corrs discuss a NSW Supreme Court decision confirming that a company's entry into small business restructuring does not extend the three-month deadline for creditors to rely on an unsatisfied statutory demand to establish a presumption of insolvency, after the Court dismissed a winding up application filed outside that window where the underlying debt was genuinely disputed.

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