The recent decision of the full bench of the Federal Court in Leveraged Equities Ltd v Goodridge1 has unanimously overturned the contentious first instance decision of Rares J2 and, in doing so...
Many commercial contracts provide for an independent expert to resolve disputes of a financial nature. In drafting these dispute resolution clauses it is common to provide that if the parties...
On 12 December 2010, the Government announced that it will introduce legislative reforms to promote a competitive and sustainable banking system in Australia. As part of the reform package, the...
The Corporations (Sons of Gwalia) Bill was passed by Parliament on 26 November 2010, an awaits Royal assent. The Bill will reverse the effect of the Sons of Gwalia Case by subordinating the claims...
The Corporations Amendment (No. 1) Act received the Royal assent on 24 November 2010, and is awaiting...
The decisions of the New South Wales Court of Appeal in Morley & Others v ASIC [2010] NSWCA 331 (Morley) and James Hardie Industries NV v ASIC [2010] NSWCA 332 (JHINV) are perhaps not as...
On 20 December 2010, the Parliamentary Secretary to the Treasurer released an Exposure Draft Bill dealing primarily with remuneration, along with a discussion paper on a proposal to clawback...
The ACCC has recently refined its merger review practice to increase the transparency of the informal review process. ACCC staff will now provide merger parties with detailed guidance, in writing...
The decision in Ross Human Directions [2010] ATP 8 is not a "game changer" when it comes to deal protection in M&A transactions, but it does provide some fairly clear guidance to advisers
In a speech to the Australasian Investor Relations Association Conference on 26 November 2010, Parliamentary Secretary to the Treasurer, David Bradbury indicated that he proposed "in the coming...
JWS's drafting of pre-emptive rights provisions was tested in a recent NSW Supreme Court decision - APT SEA Gas Holdings Pty Ltd v ANP SEA Gas Holdings Pty Ltd and Anor [2010] NSWSC 1221 and on
The UK Takeover Panel has recently issued a response statement in relation to consultation on proposed amendments to the UK Takeover...
ASIC has issued Consultation Paper 142: Related Party Transactions, foreshadowing revisions to Regulatory Guide 76. ASIC has conducted a review of public company related party transactions, and...
On 21 September the Takeovers Panel issued Guidance Note 22: "Recommendations and Undervalue Statements". This followed consultation on a draft guidance note in April this year, and response...
The Australian Taxation Office (ATO) issued on 1 December 2010 2 final Taxation Determinations (TD2010/20 and TD2010/21) and 2 draft Taxation Determinations (TD2010/D7 and TD2010/D8) concerning the...
A number of Federal Court and the Full Federal Court (FFC) decisions were handed down in 2010 which deal with the application of the general anti avoidance provision in Part IVA of the Income Tax...
The Australian Institute of Company Directors' survey published earlier this month, suggesting that directors' commercial decision making, even their willingness to serve, is diminished by personal...
Today, as a 'retention of title' (ROT) supplier of goods you can rely upon your ownership of the goods as adequate protection against the insolvency of your customer. However, once the Personal...
On 1 September 2010 the High Court of Australia handed down its much anticipated decision in the case of Public Trustee of Queensland v Fortress Credit Corp (Aust) 11 Pty Ltd (Octaviar). In a joint...
Following the conclusion of the 2010 reporting season for many, and as the practical implications from the amendments to termination benefits laws, ASX Listing Rules and Corporate Governance...
On 1 September 2010, the Federal Court of Australia (Katzmann J) handed down a decision in Dye v Commonwealth Securities Limited (No 5) [2010] FCA 950 (Dye). The Court in Dye reviewed the decision...
South Australia...s building and construction industry will join the rest of Australia when its new Building and Construction Industry Security of Payment Act 2009 (SA) (the Act) comes into...
The Commercial Arbitration Act 2010 (the Act) received the assent of the New South Wales (NSW) Parliament on 28 June 2010, after the Standing Committee of Attorneys General agreed to update the...
On 28 June 2010 Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010 (Cth) (the Act) was given Royal Assent. The Act establishes the legislative framework for entities which are...