Acumen July 2016

acumen: noun – quickness of perception; keen insight.

A range of legal issues from July 2016 relevant to corporate counsel and senior executives, written by our senior practitioners.

Corporate

• ASX – an effective prelude to Nasdaq?
  ASX has implemented measures to encourage smaller US companies to list on ASX, including obtaining a no-action letter from the US Securities and Exchange Commission for initial public offerings on ASX, and permitting waivers from certain ASX listing rule requirements.

Competition

• Another Merger Authorisation – Sea Swift Marine Freight Acquisition Cleared by Competition Tribunal
  On 1 July 2016 the Australian Competition Tribunal authorised Sea Swift Pty Ltd’s acquisition of the marine freight business of Toll Marine Logistics Australia in the Northern Territory and far north Queensland.

Debt Finance

• Protecting Your Interests: How to Avoid Common PPSR Registration Mistakes
  The Personal Property Securities Register (“PPSR”) has operated for several years, but defective registrations remain a (sometimes serious) problem for many of those looking to protect their interests.

Dispute Resolution

• Litigation Alert: Foreign litigation funders and ATE insurers get green light from Victorian Supreme Court
  Two appeal decisions were handed down in the Supreme Court of Victoria on Tuesday which have significant implications for the forms of security which can be used to satisfy an order for security for costs in funded litigation matters.

Tax

• Acumen 2016 State Budget Update
  Between April and June, each of the Australian State and Territory governments handed down their respective budgets.