Insights

The continued saga of the Babcock & Brown liquidation

In a decision of the Federal Court handed down on 18 October 2019 in Masters v Lombe (Liquidator); In the Matter of Babcock & Brown Limited (In Liquidation) [2019] FCA 1720, Foster J held that...

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Angas Securities scheme of arrangement approved

On 17 May 2019, the Federal Court approved the scheme of arrangement between Angas and its Debenture Holders.

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Public Investment Funds 2019

The International Comparative Legal Guide to: Public Investment Funds 2019

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Federal Budget 2019 Insights

We bring you the key taxation reforms announced by Treasurer Josh Frydenberg in the 2019/20 Australian Federal Budget. Unsurprisingly, with the next Federal election due sometime in May, the main...

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Guaranteeing payment under an unconditional bank guarantee: Santos v BNP Paribas

The Queensland Court of Appeal last week upheld a decision that a demand for payment under an unconditional bank guarantee was invalid because it failed to state expressly that it had been signed...

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Looming changes – are you ready for the Consumer Data Right?

With the Federal Government announcing its intention to introduce a Consumer Data Right (CDR) from 1 July 2019, how can you be prepared?

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Is your security still perfected?

Will your security interest expire on 30 January 2019?

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Set it off! The West Australian Court of Appeal breathes new life into section 553C

The Court of Appeal - Supreme Court of Western Australia has delivered a decision confirming that a statutory set-off under s 553C of the Corporations Act can still be available to a creditor...

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PMSI refinancing – make sure you protect your interests!

When refinancing inventory, gaining 'super priority' for a purchase money security interest (PMSI) over existing general security interests is paramount to protecting the investment made by the...

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FIRB releases new guidance notes for foreign purchasers

On 25 September, Australia’s Foreign Investment Review Board issued 2 guidance notes, designed to clarify Australia’s foreign investment policy in 2 key areas - acquisition of agricultural land and...

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May the Stay be with you…

From Monday next week the much hyped stay on ipso facto rights in certain contracts will be law. The relevant Legislation, Regulations and Declarations commence this Sunday, 1 July 2018.

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Changes to the FFSP regime

On 1 June 2018, ASIC released Consultation Paper 301 in connection with the Australian financial services (AFS) licensing exemptions applicable to foreign financial service providers (FFSP...

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Acumen Federal Budget Special Edition 2018

This special edition of Acumen discusses the key taxation reforms announced on the evening of 8 May 2018 by Treasurer Scott Morrison in the 2018 Australian Federal Budget.

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AFS licensing exemption under the FFSP Class Orders - reporting and disclosure requirements

Foreign financial service providers (FFSPs), that provide financial services to wholesale clients in Australia relying on one of the FFSP Class Order exemptions from holding an Australian financial...

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Acumen Federal Budget Special Edition 2017

This special edition of Acumen discusses the key taxation reforms for business announced on the evening of 9 May 2017 by Treasurer Scott Morrison in the 2017 Australian Federal Budget.

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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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Australia’s foreign investment laws: a guide for foreign investors and their counsel

When a transaction with a direct or indirect connection to Australia is proposed, foreign investors and their counsel should consider whether notification is required or advisable.

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Private Equity Tax Determinations

On 26 October 2011, the Commissioner of Taxation issued Taxation Determinations TD 2011/24 and TD 2011/25, dealing with the source of income and availability of tax treaty benefits, respectively...

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Turning income into capital or capital into income

Can a trustee treat receipts or outgoings as being on capital or income account irrespective of the nature of the receipt or outgoing? Legal and tax advisers have expressed various views on the...

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Handling confidential, price sensitive information: principles of good practice

Chartered Secretaries Australia and the Australasian Investor Relations Association have issued guidance on handling confidential, price-sensitive information. This is in response to ASIC's...

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Liquidator's lien prevails over secured creditor

Stewart v Atco Controls Pty Ltd (In Liquidation) [2014] HCA 15 ("Atco") -- In a good outcome for Liquidators and litigation funders, Atco has overturned a unanimous decision of the Victorian Court

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Third party payments as unfair preferences

Following the 1997 decision in Re Emanuel (No 14) Pty Ltd, it became clear that payment by a third party (C) of an unsecured debt due by A to B could be classified as an unfair preference in...

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Low hurdles to extend price signalling laws to other sectors

On 6 June 2012, the new anti-competitive price signalling laws will come into effect. While the Government at this stage only intends to apply these laws to the banking sector, recently proposed...

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Dividend franking - current year profits and accumulated losses

On 21 June, the Australian Tax Office (ATO) issued two draft 'fact sheets' relating to the taxation of the payment of dividends. This follows amendments to section 254T of the Corporations Act...

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