Recent Publications

• The liquidator's duty of sale

  Date: 10 May 2013

  Receivers and mortgagees are well-versed as to the statutory duty of sale enshrined in section 420A of the Corporations Act, but what of the duties owed by a liquidator when undertaking asset sales?
• Is mortgage duty here to stay in NSW?

  Date: 01 May 2013

  Many businesses have made funding decisions on the NSW Government's commitment that mortgage duty would finally be abolished on 1 July 2013, but it seems that it may be in place for at least another two years.
• Privacy law update: draft Credit Reporting Code

  Date: 23 Apr 2013

  Less than two weeks remain for credit providers to provide their comments on the draft Credit Reporting Code to its creator, the Australasian Retail Credit Association.
• 30% withholding requirement under the United States Foreign Account Tax Compliance Act

  Date: 18 Apr 2013

  From 1 January 2014, FACTA will require the withholding of 30% of certain payments to, or from, a non-US "foreign financial institution", if the ultimate recipient of that payment is a US citizen or an entity controlled by a US citizen. This article highlights some of the 'big picture' issues FFIs will face as a result of FACTA.
• Important new Australian trade mark law comes into force on 15 April 2013

  Date: 12 Apr 2013

  Trade mark owners should note that significant changes which dramatically affect the way in which trade mark opposition proceedings will be run in Australia, come into force on 15 April 2013.
• No-advance tax structure caught out

  Date: 18 Feb 2013

  A recent NSW Supreme Court decision highlights the potential difficulties in amending provisions in respect of 'no-advance' structures.
• The new Australian Privacy Principles: Amendments to the Privacy Act 1988

  Date: 12 Feb 2013

  This article provides a summary of recent amendments to the Privacy Act 1988 (Cth) which implements new privacy principles and credit reporting rules.
• Revised Code of Banking Practice

  Date: 07 Feb 2013

  The revised Code of Banking Practice has been published. Subscribing banks have 12 months to make changes to ensure compliance with the revised code by 1 February 2014.
• Part 2 of Phase 2 of the National Credit Reforms

  Date: 07 Jan 2013

  Treasury has released for public consultation Part 2 of Phase 2 of the National Credit Reforms.
• Security for contingent liabilities under a mortgage: does the mortgagor need to have commenced proceedings for there to be a "contingent liability" on the discharge of a mortgage?

  Date: 11 Dec 2012

  A recent NSW Supreme Court decision has upheld a mortgagee's right to security for the anticipated reasonable costs of defending a threatened claim by a mortgagor when discharging security.
• 'In principle' settlement agreement upheld by the Supreme Court

  Date: 20 Nov 2012

  In a recent NSW Supreme Court decision, the Court confirmed the binding nature of an 'in principle' settlement agreement, and held that disagreement as to terms did not mean that there was "no agreement".
• Cartel conduct back in the spotlight

  Date: 10 Oct 2012

  The detrimental impact that cartel conduct allegations can have on a business makes it imperative that businesses give this issue attention as a real priority.
• Consumer Credit Enhancements

  Date: 02 Oct 2012

  The Consumer Credit Legislation Amendment (Enhancements) Act 2012 (Cth) received Royal Assent on 18 September 2012. Most of the amendments introduced by the Act, will come into force on 1 March 2013.
• Breach of employment policies no trifling matter

  Date: 02 Oct 2012

  A recent Federal Court decision illustrates that workplace policies still need to be complied with by employers, even though they may not form part of the employment agreement. Serious breach of these policies can result in a breach of the implied term of trust and confidence.
• Proposed extension of consumer laws to small businesses

  Date: 12 Sep 2012

  The NSW Opposition has introduced a Private Member's Bill which, if enacted, would increase the powers of small businesses in respect to their dealings with banks, franchisors and other large corporates.
• Carbon emissions just got personal

  Date: 05 Sep 2012

  On 1 July 2012, the Personal Property Securities Act 2009 (Cth) was amended to include emissions units within the definition of personal property. That means emission units can be the subject of a PPSA security interest.
• 'Securitisation' is not a defence

  Date: 03 Sep 2012

  The Western Australian Court of Appeal recently upheld earlier decisions of the NSW Supreme Court and the Victorian Supreme Court in rejecting 'a defence of securitisation' from the defaulting mortgagor.
• Trustee refused an extension of time to make an election under section 60(3) of the Bankruptcy Act

  Date: 28 Aug 2012

  A recent Federal Magistrates Court case demonstrates that trustees must act promptly on receipt of a notice under s60(3) of the Bankruptcy Act 1966 (Cth).
• Lender recovers from mortgage originator who did not properly check borrower's ID

  Date: 27 Aug 2012

  In a recent NSW Court of Appeal case, a lender has successfully sued its mortgage originator for monies not recoverable from the borrower on the basis that the mortgage originator did not follow proper procedures when checking the identity of the borrower.