The new employee share scheme (ESS) provisions, contained in Division 83A of the Income Tax Assessment Act 1997 (Cth) (1997 Act), apply from...
ASIC's victory in the Full Federal Court in ASIC v Fortescue1 fell short of being resounding. Two of the judges (Keane CJ and Emmett J) queried whether it was worth ASIC's effort given there was no
The PPSA is a fundamental overhaul of the existing regime for taking and granting security over personal property (excluding land). The changes will affect nearly all businesses, particularly...
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...
Mr Goodridge has lodged an application for special leave to appeal to the High Court in respect of the Full Federal Court's decision in Leveraged Equities Limited v
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...