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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Australia: What is the penalty of cancelling a contract with a vendor that is now under receivership?

Australia: What is the penalty of cancelling a contract with a vendor that is now under receivership?

A deposit has been made for an event at a hotel in 6 months – the hotel is now under receivership and may not be open then – the event still has to go ahead so we are looking at alternative venues – what chance do we have to get our deposit (20K) back (receivership is not mentioned in the contract)

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One Response to "Australia: What is the penalty of cancelling a contract with a vendor that is now under receivership?"

  1. Ana Lisa L says:
    you have all the right to cancel the contract.there’s nothing wrong if you have changed your mind.the only thing is that, the hotel where you supposedly booked an event may deduct an amount from the 20k as a cancelation fee.

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