Insights

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Above Board: Board Advisory and Governance Update

Our quarterly update covers recent developments in the governance space.

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Better understanding governance failures

“It’s fine to celebrate success, but it is more important to heed the lessons of failure.”

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Liquidator's remuneration vs employee creditors: who gets priority to circulating assets?

In this decision, the Court of Appeal of the Supreme Court of NSW considered the interplay between the priority regimes under ss 556 and 561 of the Corporations Act 2001 (Cth) (Act) in resolving a...

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What's next for big coal?

BHP and Mitsubishi selling their Daunia and Blackwater coal mines in central Queensland to Whitehaven for a higher than expected price of US$4.1 billion (including deferred and contingent payments)...

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Present solvency and future debt: the relevance of future debt in determining solvency

JWS represented Daniel Walley and Philip Carter of PricewaterhouseCoopers in their capacity as voluntary administrators (Administrators) of IOUpay Limited (Administrators Appointed) (Company) in an...

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Forensic investigation reports: are they privileged? Robertson v Singtel Optus Pty Ltd

The Federal Court of Australia has held that an expert forensic investigation report prepared by Deloitte Touche Tohmatsu (Deloitte) for Optus in the aftermath of its September 2022 cyber attack...

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Consultation on merger control reform in Australia begins

Treasury has released a detailed consultation paper seeking views on whether Australia’s current merger control regime is effective and the available options for reform, drawing extensively on...

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Due diligence, assignment clauses – consent ‘not to be unreasonably withheld or delayed’

A recent Supreme Court decision in New South Wales provides timely guidance on how a Court will approach whether a person has unreasonably withheld consent to assignment and how long proceedings...

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Digital Bytes – cyber, privacy & data update

Developments in cyber, privacy and data continue to evolve rapidly, so we’ve summarised highlights from the past three months to give you a whirlwind tour of the most significant updates.

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Private equity firms now need to consider competition issues for every acquisition

Acquisitions by private equity firms have traditionally sailed below the competition regulator’s radar including because acquisitions have been for a new platform, with no competition issue or have...

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Taking stock of Vanderstock

Strong positions taken and uncertainty remains: High Court divergence of views on excise case could have major consequences for State and Territory taxing powers.

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ATO’s approach to settlements with Australia’s largest taxpayers

The ATO has published its findings report on public and multinational business settlements 2022-2023. In this article, we unpack the ATO’s findings, and outline the considerations that the ATO will...

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Federal Court decision signals the end of the road for Mercedes-Benz franchise agreements

Mercedes-Benz Australia/Pacific Pty Ltd (MBAuP) has been found not to have engaged in unconscionable conduct against its Australian dealers when it moved the dealers from long-running franchise...

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Net zero in NSW: emissions reduction targets reach State Parliament

The NSW Government has introduced the Climate (Net Zero Future) Bill 2023 (Bill) to enshrine emissions reduction targets in law in New South Wales and establish a new Net Zero Commission to monitor...

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Dual-path M&A recommendation can hurt retail shareholders

Bidders for Australian listed companies usually decide to make a formal takeover bid or alternatively propose a scheme of arrangement. But sometimes both paths are taken together and a scheme of...

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Is this the beginning of the end for thermal coal mine approvals in Australia?

In November 2022, the Queensland Land Court (QLC) recommended that Waratah Coal’s application for a mining lease and an environmental authority in relation to the proposed Galilee Basin thermal...

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One step forward, one back: advancements in digital defamation reform amidst a setback in uniformity

The latest signpost on the long road to defamation law reform appears to point to another departure from national uniformity with the announcement that not all states are on-board for a revised set...

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Personal property securities get a makeover

After more than ten years of operation, the Personal Property Securities Act 2009 (Cth) (PPSA) and the Personal Property Securities Register (PPSR) are in line for a major overhaul.

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New South Wales 2023/24 budget: increasing taxes and reducing exemptions

On 19 September 2023, the New South Wales government released its 2023/24 budget and in doing so it made a number of significant revenue announcements which are all aimed at increasing government...

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State and Territory budget snap shot - wrap up of key business announcements

On 19 September 2023, New South Wales was the last Australian state to hand down its 2023/24 budget.

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Steel yourselves: record penalties ordered against BlueScope for attempted cartel conduct

BlueScope Steel (BlueScope) has been recently fined with a record-breaking $57.5 million and its former general manager with $575,000 for attempted cartel conduct to induce other suppliers to...

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Lessons from the first Tribunal decision on a merger authorisation

In its first review of a merger authorisation application since the current regime came into effect in 2017, the Australian Competition Tribunal (Tribunal) has upheld the Australian Competition and...

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Getting ready for the new positive duty on employers to eliminate sexual harassment

In the lead up to 12 December 2023, employers should ensure they have robust systems in place to comply with their new positive duty obligations.

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Deeds of cross guarantee – be aware of the ongoing obligations

As many companies are required to lodge annual financial statements this month, we hope this note serves as a timely reminder to ensure that your company is meeting its ongoing obligations under...

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