Recent news & publications
Date: 06 Dec 2017
The Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) applies to government agencies, private sector organisations with annual turnovers over $3m, and all organisations handling health information or involved in credit reporting.
Date: 30 Nov 2017
Consider the position of the buyer of a business, entering into a sale agreement with the seller. The seller will make various representations about the business that will be underpinned with warranties and indemnities, all for the purpose of giving the buyer comfort about what they are purchasing.
Date: 29 Nov 2017
The newly enacted Treasury Laws Amendment (2017 Enterprise Incentives No.2) Act (Cth) 2017 (Safe Harbour Legislation) is primarily concerned with giving company directors breathing space in circumstances where a restructure is being pursued.
Date: 16 Nov 2017
The October 2017 edition of the Australian Banking & Finance Law Bulletin (a LexisNexis publication) contains an article by Ben Shaw and Morgan Stack entitled ‘Charging clauses: is near enough still good enough?'
Date: 09 Nov 2017
The October 2017 edition of the Australian Banking & Finance Law Bulletin (a LexisNexis publication) contains an article by Scott Guthrie entitled ‘PPSA - what difference does it make?'
Date: 26 Oct 2017
A central theme in Australia’s safe harbour legislation is a “better outcome for the company”. Achieving a “better outcome” is the ultimate aim of the course of action to be taken by directors to enliven the protection afforded by the safe harbour regime. Conversely, directors will be outside safe harbour once that course of action ceases to be reasonably likely to achieve that “better outcome”.
Date: 20 Oct 2017
Earlier this year, the Federal Government announced that it would introduce a new external dispute resolution framework for the banking and finance sector through the establishment of a 'one-stop shop' for all financial complaints, the Australian Financial Complaints Authority (AFCA).
Date: 18 Oct 2017
The sole shareholder of two companies has failed in attempting to challenge the validity of the appointment of administrators to those companies.
Date: 03 Oct 2017
In our Safe Harbour Wheelhouse publication series we will consider how the new laws are likely to play out and impact key stakeholders once companies begin relying on the new provisions in months and years to come. In this first update, we look at some of the issues that directors and unsecured creditors will need to consider given the Corporations Act’s silence about whether or not a restructure plan should be disclosed to creditors.
Date: 14 Sep 2017
When shareholders in a company fall out, they sometimes allege that the company’s affairs have been managed in an unfair or oppressive way. Parties to a joint venture gone sour, warring directors, or families mired in disputes over the direction, management, succession and future control of a business are the typical parties to a shareholder dispute, commonly known as an ‘oppression proceeding’.
Date: 08 Sep 2017
All businesses should be reviewing the way they manage the risk of underpayment and worker exploitation as the Federal Government’s reforms to protect vulnerable workers are about to take effect.
Date: 25 Aug 2017
In November 2014, Mr Nyoni commenced an application in the Federal Court of Australia seeking compensation and injunctive relief on the basis of the alleged conduct of the Pharmacy Board of Australia and the Australian Health Practitioner Regulation Agency (Respondents).
Insolvent trading - safe harbour is on the way but what should directors do today if faced with financial difficulty?
Date: 09 Aug 2017
The July 2017 edition of the Financial Services Newsletter (a LexisNexis publication) contains an article by John Stragalinos entitled ‘Insolvent trading – safe harbour is on the way but what should directors do today if faced with financial difficulty?’
Date: 08 Aug 2017
Electronic conveyancing commenced in NSW in 2013, allowing (but not requiring) lenders to electronically lodge mortgages and discharges of mortgages through Property Exchange Australia (PEXA).
Date: 24 Jul 2017
The concept of ‘board evaluation’ covers everything from a director having a quiet chat with the Chairman to detailed questionnaires and interviews with an external facilitator. Some boards and directors shy away from it, or only undertake it at a surface level. But when handled in the right way, board evaluation is an important piece of ‘kit’ in an organisation’s strategic tool bag.
Casual conversion to permanent employment: what does the Fair Work Commission’s decision really mean?
Date: 13 Jul 2017
As part of its four year review of modern awards, the Fair Work Commission has decided to insert a ‘casual conversion’ clause into most modern awards that do not already have conversion clauses in place.
Date: 06 Jul 2017
The Maviglia case involved property in New South Wales where the registered proprietor was a trustee company in liquidation. The mortgagee, Perpetual Limited, had taken possession of the property after exercising its right to self-help.
Date: 30 Jun 2017
Key changes affecting Australian workplaces are about to take effect, impacting minimum wages, unfair dismissal, penalties for breaches of the Fair Work Act 2009 (Cth) (Fair Work Act) and superannuation contributions.
Date: 16 Jun 2017
A recent decision of the Federal Court of Australia provides a window into the figurative mind of the court when considering whether to approve an application to convene a shareholders meeting to approve a Scheme of Arrangement.
Date: 08 Jun 2017
There are numerous examples of the unquestionable value that can come from developing and protecting a brand with a well-thought-out brand strategy – just think of what Nike has achieved with its iconic ‘swoosh’, or McDonalds with its famous ‘golden arches’.
Date: 07 Jun 2017
The employer involved in this case had commenced a misconduct investigation focusing on one of its workers. After that investigation was commenced, the worker filed a ‘stop bullying’ application under section 798FC of the Fair Work Act 2009 (Cth).
Date: 18 May 2017
On 11 May 2017, Federal Parliament passed the Personal Property Securities Amendment (PPS Leases) Bill 2017 (PPS Amendment) following its introduction on 1 March this year.
Date: 16 May 2017
Blue Impression Pty Ltd (Blue Impression) operates a Japanese fast food outlet Hanaichi in Melbourne. Last year, Blue Impression was taken to court by the Fair Work Ombudsman for underpaying two Taiwanese workers nearly $10,000.
Date: 09 May 2017
In a recent decision, the NSW Supreme Court found that even if one co-guarantor appears to have a greater culpability for a guaranteed debt, that does not mean the Court has the power to adjust the monetary obligations of the co-guarantors accordingly.
Date: 03 May 2017
The Takeovers Panel regulates the conduct of takeovers in Australia, as its title obviously suggests. But the Panel’s recent consideration of a Rights Issue undertaken by MEC Resources Limited (MEC Resources) illustrates the Panel’s role in reviewing broader matters – specifically, capital raising transactions which could affect control in a company.
Date: 28 Apr 2017
The New South Wales Rural Assistance Authority (RAA), which administers the Farm Debt Mediation Act 1994 (NSW) (FDMA), is currently overseeing a review of the FDMA. The RAA has published a review consultation paper raising a series of consultation questions, which are open for comment until 5 May 2017.
Date: 19 Apr 2017
Many employers have been in the position of catching an employee ‘red handed’ for some type of wrongdoing, and confidently proceeding towards immediate dismissal.
Date: 06 Apr 2017
Australia’s current insolvent trading laws and lack of protection against ‘ipso facto’ clauses can make certain restructurings and workouts far more difficult than they need to be.
Date: 30 Mar 2017
A recent decision of the Supreme Court of Victoria has gone some way to solidifying a consistent trend in three important insolvency principles.