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ARTICLE · 11 SEPTEMBER 2020

Update: COVID-19 factsheet – changes at the Federal and State level

Holding Redlich
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A summary of key legal issues impacting business, as well as Australian and Victorian Government measures in place.

AustraliaCoronavirus (COVID-19)
Nick Hornstein
Nick Hornstein
Madison Tonkes
Madison Tonkes
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The COVID-19 pandemic is creating a number of significant challenges for Australian businesses.

To assist organisations in navigating this unchartered territory, we summarise the key legal issues impacting business as well as Australian and Victorian Government measures in place.

Can creditors still issue statutory demands?

Yes.
However, the Australian Government has temporarily increased the threshold for creditors issuing a statutory demand under the Corporations Act 2001 from $2,000 to $20,000.

The Federal Government has announced that this measure will be extended through the Regulations to the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (Regulations) and extension will now apply until 31 December 2020.

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This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.

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