The sixth factsheet in the global economic downturn series, examines the legal avenues of collecting long standing debt, once all non-legal means are exhausted. 
 
Author of the factsheet, Stephen Mitchell CA, a partner at HLB Mann Judd in Melbourne, says, ‘Legal action will normally take the form of obtaining a judgement against the debtor of the amount outstanding…obtaining a judgement prior to taking any other form of action, will ensure that any disputes regarding the amount outstanding are resolved.’ 
 
The factsheet examines the most common options once a judgement has been enforced, including bankruptcy (individuals) and liquidation (corporations) which has been examined in detail in factsheet four in this series. 
 
All the factsheets are published on the Institute's website in the section dedicated to global economic downturn resources.  
 
Relevant links: 

• The Institute: factsheet six - Enforcement of judgment debts
• The Institute: factsheet five – Banking on relations
• The Institute: factsheet four – Part two, insolvency
• The Institute: factsheet four – Part one, insolvency
• The Institute: factsheet three – Discounted cash flow analysis
• The Institute: Guidance document on impairment to accompany factsheet three
• The Institute: factsheet two – Employee matters
• The Institute: factsheet one – Trim the fat not the staff
• The Institute: Global economic downturn resource page