The successful use of a Statutory Demand to achieve prompt payment of a settlement agreement

IY LEGAL was recently instructed to negotiate an Arbitration dispute settlement for a Far East client which involved 3 parties along a commodity supply chain and a defaulting supply mine.  Settlement was achieved but the Australian mine then sought to default on payment, pleading poverty.  

Having purposefully included an Australian Court jurisdiction clause in the settlement agreement with the mine, IY LEGAL via its correspondent lawyer in Sydney, was able to circumvent drawn out debt recovery legal proceedings and, instead, its client applied to wind up the mine for failure to pay a Statutory Demand.  That caused the mine to finally pay within 28 days - no more excuses.

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Commercial Lawyers
Arbitration Specialists

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