Insights

Lack of likely recovery leads to refusal of leave to proceed against company in liquidation

A recent decision by the Federal Court of Australia may be useful for liquidators faced with an application to commence or continue civil proceedings against a company in liquidation.

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Managing design risk through ‘fit for purpose’ warranties

Good design is critical to the overall success of any complex engineering or construction project. Sophisticated designs can produce a host of economic, environmental or social benefits, including...

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What to do when ASIC comes knocking: failure by liquidators to lodge public notifications and other

The PNW Project aims to test all registered liquidators’ compliance with the requirement to publish certain notices on ASIC’s “published notices website” and to lodge forms with ASIC.

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The push to increase penalties for breaches of the Australian Consumer Law

The ACCC has announced its intention to pursue higher penalties for breaches of the Australian Consumer Law (ACL).

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Roadmap for blockchain standards

The media is abuzz when it comes to blockchain technology and its ability to transform the way industries do business.

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Acumen March 2017

Legal issues from March 2017.

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Lease or licence: know the difference

We are regularly asked the following questions: Does our company need a lease or will a licence suffice? We have excess space. Should our company sublet it or grant an occupancy licence to a third...

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New rules for the apportionment of petroleum recovered from pools straddling Commonwealth and State

Recent amendments to legislation aim to improve functionality regarding entering into petroleum agreements, even if relevant geological information is not fully known.

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Long-awaited data breach notification laws pass parliament

Businesses operating in Australia that handle personal information will soon need to notify affected individuals and the Australian Information Commissioner of serious data breaches under a new...

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The Misuse of Market Power Bill

The Federal Government's Misuse of Market Power Bill is the next step in its commitment to implement the ‘Harper’ Competition Policy Review’s misuse of market power reform recommendations

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Dispute Resolution Update: Q1 2017

There have been a number of significant developments in the Dispute Resolution team.

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The risks of claiming you are “No 1” in the industry

On 13 February 2017 the Federal Court delivered its decision in relation to whether claims made by Domain Group (‘Domain’) that it had the “#1 property app in Australia” were misleading or...

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Signing documents in the digital age

As technology advances, opportunities to update business practices are offered. However, the law is often one step behind, making it difficult for companies to employ new efficient business...

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Liquidators’ remuneration – Court of Appeal puts ad valorem in its place

A spate of recent decisions approving liquidators’ remuneration on an ad valorem basis had caused some trepidation amongst insolvency practitioners facing the prospect of court fee approval.

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Update: Misuse of Market Power Bill passes the House of Representatives

The Competition and Consumer Amendment (Misuse of Market Power) Bill 2016 (Misuse of Market Power Bill) has passed the House of Representatives and is currently before the Senate.Prior to passing...

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Reforms for Restructures

(Also titled Reforms for Restructures in Australia) The Australian Federal Government has released the Exposure Draft for the much anticipated introduction of: A safe harbour for company directors...

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ACCC priorities for 2017 – will you be a target this year?

On 24 February 2017, the Australian Competition and Consumer Commission (ACCC) announced its Enforcement and Compliance Policy for 2017.

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AGL Loy Yang Pty Ltd v CFMEU and Hardy [2017] FWC 432

The Fair Work Commission has ordered the CFMEU to stop organising covert unprotected industrial action at AGL’s Loy Yang site in Traralgon. The order, made under section 418 of the Fair Work Act...

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Court of Appeal confirms meaning of “fixtures” under the PPSA

The New South Wales Court of Appeal, in a decision released on 6 February 2017,1 has confirmed that the common law meaning of what is, or is not, a fixture applies under the Personal Property...

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Examination of liquidator – legitimate or abuse of process?

Liquidators can rest assured that courts are reluctant to interfere in their commercial judgments or permit liquidators to be personally exposed to mandatory examinations under s596A Corporations...

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PPSR registration – near enough is not good enough!

A recent decision in the Supreme Court of New South Wales has clarified the circumstances in which a registration on the PPSR will be ineffective and the consequences that can flow from this.

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High Court upholds constitutionality of s596A mandatory examinations

The High Court of Australia recently dismissed an application brought by former Queensland Nickel Pty Ltd (QN) directors Mr Clive Palmer and Mr Ian Ferguson for a declaration that section 596A of...

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Distressed asset sales & insolvency regimes

Insolvency sales have their own unique issues, but the agenda is always clear - maximise return to creditors.

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Distressed asset sale snapshot

Companies in distress often undertake a sale of assets to alleviate cash flow or debt repayment issues when other lines of credit or sources of funds have been exhausted. Such decisions are not...

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