"Standstill" agreement "some other reason" to set aside statutory demand

The Supreme Court of New South Wales recently considered whether a "standstill agreement" between the parties to refrain from enforcement of a judgment debt was "some other reason" to a have a statutory demand set aside.

The Court held that there was a seriously arguable case that the agreement remained in force at the time the statutory demand was issued. The statutory demand was set aside.

For more information, see the decision.

Liability limited by a scheme approved by professional standards legislation.