Thomsons ITM News

May 2015

If your Customers Go Bust…Can They Claw Back the $ They Paid You?

This month’s Building Business examines the recent law ruling affecting the law known as “voidable transactions”. Until recently you could be made to repay money to customers paid to you in the last two years, if that customer goes bust. A recent law ruling has radically changed the law making the outcomes not as simple as this.