Cranston McEachern
| c o m m e r c i a l l i t i g a t i o n |
We represent businesses and individuals in all types of busines and commercial disputes,
ranging from simple contract claims to complex actions. We have experience litigating cases
involving:
corporate acquisitions,
securities, technology,
intellectual property,
unfair competition,
bankruptcy,
and a host of other business-related claims.
We litigate in all state and federal courts on contract and commercial law for various
purposes including:
enforcing contracts;
seeking injunction orders;
specific performances; and
damages.
LEGISLATION KNOWLEDGE
Cranston McEachern regularly advises clients, companies and individuals regarding the
impact of the Corporations Act and tax laws so as to advise on its effects on commercial
transactions including:
Trades Practices Act;
Federal Constitution;
Fair Trading Act;
Property Law Act;
Retail Shop Leases Act; and
Commercial Arbitration Act
We also specialise in insolvency matters which necessitates a comprehensive understanding
of the Corporations Act and the Bankruptcy Act.
For commercial litigation advice, cONTACT:
Peter Deed on 07 3248 0843
David McEachern on 07 3248 0841
Peter Murrell on 07 3248 0837
ranging from simple contract claims to complex actions. We have experience litigating cases
involving:
corporate acquisitions,
securities, technology,
intellectual property,
unfair competition,
bankruptcy,
and a host of other business-related claims.
We litigate in all state and federal courts on contract and commercial law for various
purposes including:
enforcing contracts;
seeking injunction orders;
specific performances; and
damages.
LEGISLATION KNOWLEDGE
Cranston McEachern regularly advises clients, companies and individuals regarding the
impact of the Corporations Act and tax laws so as to advise on its effects on commercial
transactions including:
Trades Practices Act;
Federal Constitution;
Fair Trading Act;
Property Law Act;
Retail Shop Leases Act; and
Commercial Arbitration Act
We also specialise in insolvency matters which necessitates a comprehensive understanding
of the Corporations Act and the Bankruptcy Act.
For commercial litigation advice, cONTACT:
Peter Deed on 07 3248 0843
David McEachern on 07 3248 0841
Peter Murrell on 07 3248 0837
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WHY CHOOSE BANKRUPTCY?
DEBTORS
Advantages:
o relieves debtors from the pressure of creditors.
o allows debtors to make a "clean start" after discharge.
o allows debtors to retain a living wage during bankruptcy - they may be better off than where their
wages are the subject of a garnishee order under a judgment (or property is seized under a writ)
Disadvantages:
o dispositions of property (e.g. to a spouse) may be "clawed back" by a trustee.
o debtor loses freedom of travel.
o debtor loses control of property.
o credit rating severely compromised
o debtor has to contribute income exceeding a living wage to creditors.
o debtor is subject to public examination.
o humiliation.
CREDITORS
Advantages:
o most effective debt collection mechanism - debtors often pay rather than go bankrupt
o debtor may have to contribute some post bankruptcy income to creditors
o property disposed of by the debtor before bankruptcy can be "clawed back" to satisfy debts.
o debtor and others can be examined to trace assets/income.
o allows creditors participate equally the estate, rather than one creditor getting all
Disadvantages:
o process can be slow
o a creditor who has received a preference may have to pay it back; pre-bankruptcy dispositions may
be "clawed back".
o ITSA charges a "realisations charge" of 8% of estate
o legal costs to obtain a Sequestration Order
o some trustees make lawyers look cheap.
o the petioning creditor has to share assets with other creditors, instead of recovering the debt by
themselves and waiting to see whether a trustee will challenge the recovery later.
DEBTORS
Advantages:
o relieves debtors from the pressure of creditors.
o allows debtors to make a "clean start" after discharge.
o allows debtors to retain a living wage during bankruptcy - they may be better off than where their
wages are the subject of a garnishee order under a judgment (or property is seized under a writ)
Disadvantages:
o dispositions of property (e.g. to a spouse) may be "clawed back" by a trustee.
o debtor loses freedom of travel.
o debtor loses control of property.
o credit rating severely compromised
o debtor has to contribute income exceeding a living wage to creditors.
o debtor is subject to public examination.
o humiliation.
CREDITORS
Advantages:
o most effective debt collection mechanism - debtors often pay rather than go bankrupt
o debtor may have to contribute some post bankruptcy income to creditors
o property disposed of by the debtor before bankruptcy can be "clawed back" to satisfy debts.
o debtor and others can be examined to trace assets/income.
o allows creditors participate equally the estate, rather than one creditor getting all
Disadvantages:
o process can be slow
o a creditor who has received a preference may have to pay it back; pre-bankruptcy dispositions may
be "clawed back".
o ITSA charges a "realisations charge" of 8% of estate
o legal costs to obtain a Sequestration Order
o some trustees make lawyers look cheap.
o the petioning creditor has to share assets with other creditors, instead of recovering the debt by
themselves and waiting to see whether a trustee will challenge the recovery later.