Recent news & publications
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).
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: 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: 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: 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: 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: 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.
Date: 09 Mar 2017
This week, the Federal Court provided further clarity about what constitutes property which 'com[es] into [a receiver’s] hands' for the purposes of section 433 of the Corporations Act 2001 (Cth) (Corporations Act).
How far do banks need to go to discharge their obligation to ‘try to help’ a borrower in financial difficulty?
Date: 10 Feb 2017
On 16 December 2016 Justice Davies of the NSW Supreme Court gave judgment in Marsden v DCL Developments Pty Ltd (No. 3)  NSWSC 1795, a case in which Rabobank (the Bank) was alleged to have breached clauses 20, 28 and 32 of the Banking Code of Practice (the Code).
Date: 25 Jan 2017
Over the last ten years, shareholders unhappy with the performance of a company have increasingly turned to class actions against the company and its directors.