Don’t ignore your Company’s financial position

Posted on December 23, 2011 by Matthew Oakley

King Cain solicitors, Business Law SpecialistsEnsuring that your company maintains proper financial records and that you inform yourself as to the company’s financial position is vital.

Recently, the Commissioner of Taxation sought a statutory indemnity from directors of a Company under the Corporations Act 2001 (Cth) (‘The Act’) because amounts paid had been applied to the Company’s tax obligations.

The Company’s director attempted to rely on statutory defences under the Act and
argued that:

  • He had reasonable grounds to expect that the Company was solvent and would remain solvent even if it made the payment.
  • He had reasonable grounds to believe that competent and reliable persons (an
    accountant and internal employee) were responsible  for providing him with adequate financial information about solvency.

The director had been concentrating on developing income streams for the Company
and he “thought” others were looking after the financial side of things.

The NSW Supreme Court held that the “financial records of the company were in
an  unacceptable state”, and that because of this, no reasonable grounds were established on which the director could reasonably expect that the Company was solvent:  he was  Ordered to pay $70,000.00.

It is important that:

  • good financial records be maintained to monitor the company’s solvency.
  • directors must read, understand and inform themselves as to the company’s financial position.

King Cain can assist you with Business or Company  matters. If you have a matter you wish to discuss feel free to phone Paul Carver or Kel Graham, on 63334400 or come into our office at Level 1, Suite 4  90 Keppel Street, (cnr Keppel & Bentinck streets) Bathurst NSW 2795 to arrange an appointment.

Posted in Business Law | Comments Off

Drink Driving – the risks you run

Posted on December 23, 2011 by Matthew Oakley

Many people believe that once caught with a Drink Drive offence (or PCA) there is
little to nothing that can be done to reduce or minimise the penalty.

This is often not the case, even though there may be mandatory penalty provisions
that apply.

The penalties for Drink Driving are severe and include gaol for all but driving
with the low or novice range of offences.  In all cases there is an automatic period of disqualification and for High and Mid Range offences unlimited maximum periods.

Even though there are minimum disqualification periods applicable, whether or not
the Courts impose the minimum is a matter to be decided in each individual case.

There are a number of circumstances in which it is possible to argue:

  • To backdate the disqualification to the date of the offence, as opposed to a
    date of sentence which could be several weeks later.
  • That there may be grounds to reduce the charge from Mid Range to Low Range or
    High Range to Mid Range.
  • The charge itself can be defended on the basis that you did not have the level
    of alcohol in your system at the time of driving.
  • That the test was otherwise improper or illegally obtained.

Drink Driving offences are rightly to be taken very seriously, and King Cain does not
condone Drink Driving.  However people can and do make genuine mistakes and every individual is entitled to know their legal rights.

Posted in Criminal Offences, Uncategorized | Comments Off

Have you been affected by someone’s negligence?

Posted on December 5, 2011 by Matthew Oakley

First consultation free

Do you need assistance with:

  • Recovery of damages
  • Medical Law
  • Advice on the strength of a claim
  • Amount of compensation you may be entitled to
  • Your rights if you work in a Coalmine?
  • Dispute with an insurer

Utilise the benefits of the combined knowledge, experience and expertise of King Cain Solicitors and Taylor & Scott Lawyers.

In recent years our Firm has formed a relationship with Taylor &
Scott Compensation Lawyers.

Taylor & Scott Compensation Lawyers is a Firm based in Sydney with offices at Sydney, Lidcombe, Campbelltown, Newcastle and Wollongong. It has a long history of helping people with compensation law matters. The firm has been in existence for over 100 years. It has a number of Solicitors who are accredited by the Law Society as specialists in their area of work. For more information  you can visit their website; www.taylorandscott.com.au

Rather than having our clients travel to Sydney, our arrangements with Taylor & Scott Compensation Lawyers has them attending at our offices on regular visits to service our clients.

For a confidential meeting contact Michelle Hibberson at King Cain
Solicitors on (02) 6333 4400 to make an appointment for your free consultation.

Posted in Personal Injury | Comments Off

Disputing a Will

Posted on December 1, 2011 by Matthew Oakley

Have you been properly looked after?

When someone close to you dies, it is always a difficult time. What’s often more upsetting is to discover that the deceased has not left you a fair share of their estate.

There are very good reasons why someone should contest a Will. For example, the law allows family members, de facto and same sex partners or anyone else who can show they were financially dependant on the deceased to challenge a Will if they believe the Will to be unfair.

Wills can also be challenged if the deceased lacked the mental capacity to understand what they were signing or where they may have been influenced to sign a Will that did not reflect their wishes.

As the Executor of an estate, you may have received a Notice of an intention to dispute a Will.  You must seek legal advice immediately if you have received a Notice like this.

At King Cain, we have a number of experienced lawyers to work with you and advise
of the legal options and avenues available.

It is essential that you obtain legal advice without delay as there are strict time limits in making claims.  The time limit that applies to your claim may vary.

If King Cain can assist you in any legal matter, please contact us on 6333 4400 or
call in and see me, Kelvin Graham at our offices at Level 1, Suite 4/90 Keppel Street Bathurst for an appointment

Posted in Wills & estates | Comments Off

What’s This? – QR codes means easy access to your solicitor

Posted on October 21, 2011 by Matthew Oakley

King Cain Business and Family Law Specialists

The ability to obtain information quickly with the minimum of fuss is important to everybody in today’s world.

Gaining access to information can still be very frustrating and despite access to all
the forms of communication we have now, people need simple, effective means of locating
services and contacting their friends and people they rely upon.

You may have seen codes like this at large retailers and more recently on Real
Estate ‘For Sale’ signs.

At King Cain, we believe that providing a means of accessing information quickly
is essential.  That’s why we have now provided our clients with our own unique “QR Code” so that people can quickly access information and contact us.

QR Codes were first created by Toyota back in 1994 to track vehicles during the manufacturing process.  Our code provides you with easy access to ourwebsite, general information, contact details and location. We have also integrated the technology in providing easy access to our clients for their own specific and secure log on site at our website, where they can access correspondence and information from their smart phone or computer.

Try the code above and be surprised.  You can download the software free from the internet to your smart phone.

King Cain, continuing to provide the highest level of expertise and service with integrity for your legal solutions.

 

If we can assist you in any legal matter, please
contact us on 6333 4400 or use the QR code above to find out more about our
services.

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