Hey the dir and mates could always put their own money in and save their own payroll. ???!!
21 days to respond / pay / negotiate from memory. No extensions so it is serious especially if NXE don't have another party and claim is valid.. NXE have to prove they are solvent.
Arena know this game backwards.
What date is it? It is a standard 509h form ? If NXE have sat on this for " the 4 mailing days " they are IMO in deep for not notifying shareholders.
Odd they haven't included a copy of demand as we are not currently fully informed . With a statutory demand it is very important to set out exact amount owed or it will be rejected so would be interested to see wording in arena document and I suspect it has the details I would like to see.
Why in the notice are they even mentioning that arena are not top 20 ? Why is that relevant?
If NXE management has failed to do it's job will be interesting if a major holder puts a claim in against them or their insurer to get ranking if it all turns to crap.
Very interested if they were silly enough to approach arena again and were played and then rebuffed hence the notice. It can be a nasty world .
(paragraph 459E (2) (e))
CorporationsAct 2001
CREDITOR’S STATUTORY DEMAND FOR PAYMENT OF DEBT
To (name andA.C.N. or A.R.B.N. of debtor company) of (address of the company’s registered office)
1. The company owes (name) of (address) (“the creditor”)
*the amount of $(insert amount), being the amount of the debt described in the Schedule.
*the amount of $(insert total amount), being the total of the amounts of the debts described in the Schedule.
*2.The amount is due and payable by the company.
*2.Attached is the affidavit of (insert name of deponent of the affidavit), dated (insert date of affidavit), verifying that the amount is due and payable by the company
3. The creditor requires the company, within 21 days after service on the company of this demand:
(a) to pay to the creditor the *amount of the debt/*total of the amounts of the debts; or
(b) to secure or compound for the *amount of the debt/*total of the amounts of the debts, to the creditor’s reasonable satisfaction.
4. The creditor may rely on a failure to comply with this demand within the period for compliance set out in subsection 459F (2) as grounds for an application to a court having jurisdiction under the CorporationsAct 2001 for the winding up of the company.
5. Section 459G of the Corporations Act 2001 provides that a company served with a demand may apply to a court having jurisdiction under the Corporations Act2001 for an order setting the demand aside. An application must be made within 21 days after the demand is served and, within the same period:
(a) an affidavit supporting the application must be filed with the court; and
(b) a copy of the application and a copy of the affidavit must be served on the person who served the demand.
6. The address of the creditor for service of copies of any application and affidavit is (insert the address for service of the documents in the State or Territory in which the demand is served on the company, being, if solicitors are acting for the creditor, the address of the solicitors).
SCHEDULE
Description of the debt Amount of the debt
(indicate if it is a judgment debt,
giving the name of the court
and the date of the order)
1
2
*Total Amount
Dated:
signed:
Print name: capacity:
Corporationor partnership name (if applicable):
