A loan is a type of debt where one party gives money to another party on the basis that it will be repaid at some point in time. Anyone from a friend to a company can advance or receive a loan. For example, individuals may borrow money to purchase a car or home, or a...
It is common knowledge that directors owe duties to a company. Directors are, after all, responsible for its overall governance and direction. However, those duties are usually loosely acknowledged, and their scope is often underappreciated. In smaller businesses,...
Disputes between company shareholders and directors are common place and can have a significant impact on a company's operation. It is also not unusual for protracted disputes to ultimately lead to irreconcilable situations that ultimately and significantly limit the...
Disputes between shareholders and directors are common place and can take shapes of varying degrees and scope. They often involve disagreements with respect to control over the direction, management or operation of a business, access to the company's books and...
The Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act) provides processes designed to ensure prompt and fair payment for construction work and establishes a framework for resolving payment disputes quickly through adjudication or Court...
An unfair preference claim often arises in situations where a director of company, anticipating the company's liquidation, prefers some creditors over others by prioritising the payment of their debts. When the company is eventually wound up, there are then fewer...
Broad and all-encompassing release clauses generally found in agreements in settlement of a dispute may be limited in its application depending on the circumstances and knowledge of the parties at the time the release came into existence. Key Takeaways When deeds of...
Previously we discussed reputation in a trade mark and the law of trade mark infringement under the Trade Marks Act. Next, we consider reputation and its treatment under the Australian Consumer Law and the case between rival brewing companies Brick Lane Brewing Co Pty...
A recent decision by the Administrative Appeals Tribunal (AAT) has upheld the disqualification of a director of a corporate trustee of a self-managed super fund (SMSF) for several contraventions of the Superannuation Industry (Supervision) Act 1993 (SIS Act). Key...
Introduction The issue of defective work in the construction industry, particularly as it concerns residential developments, has been an issue of public concern for many years and has attracted significant publicity. Forming part of the suite of reforms recently...
Section 138C of the Personal Properties Securities Act 2009 (Cth) (PPSA) provides for the seizure and disposal or retention of livestock by a secured party. It is in addition to the general power of seizure the subject of section 123 of the PPSA. The Federal Court...
In the current environment with rising inflation and interest rates, there is more pressure on business owners and individuals to ensure financial obligations are met. This is particularly so when these obligations have been guaranteed by business owners, directors,...