In February 2014, Australia and New Zealand Banking Group Limited ("ANZ") appointed KordaMentha Pty Ltd ("KordaMentha") as receivers and managers of the mining services firm, Forge Group Limited ("Forge"). Forge had secured debts of approximately $500 million,...
As published in CK Momentum Issue 3 (Click here to download) In an article profiling a social media consulting business, The Australian recently commented that in 2008, when the business was founded, the number of times the term “social media risk” was searched on...
Proposed amendments to Building and Construction Industry Payments Act 2004 (QLD) ("BCIPA") have been approved by Cabinet and are presently being debated by State Parliament. The changes are likely to come into effect on 1 September 2014. All members of the building...
Ruslan Kogan, new addition to the BRW Rich List with an estimated wealth of $315 million was recently quoted in an Australia Financial Review article saying: "In the past it was all about physical property, who owns the land, what capital gains are there on the land,...
The Queensland Government has introduced further amendments to property legislation, specifically for the sale of off-the-plan lots, which will be of significant benefit to property developers. The Land Sales and Other Legislation Amendment Bill 2014 (the Bill)...
As published in CK Momentum Issue 2 (Click here to download) Prior to the GFC, there were plenty of options available for raising capital to get development projects off the ground, with the onset of the GFC, most players in this space retreated back overseas, went...
As published in CK Momentum Issue 2 (Click here to download) AUSTRALIA’S NATIONAL BEEF EXPO – BEEF AUSTRALIA 2015 – WILL BE HELD IN ROCKHAMPTON FROM 4 TO 9 MAY 2015 Beef Australia is held every 3 years and is the supreme industry event for the beef industry in...
As published in CK Momentum Issue 2 (Click here to download) Due to the commercial imperatives of property dealings, parties may try to "lock" in an agreement by signing letters of offer or heads of agreement. In a strong competitive property market, contracts may...
As published in CK Momentum Issue 2 (Click here to download) For most of us, the idea of our family members having a dispute over their entitlements under our Will is distressing. Litigation & Insolvency Partner, Sarah Davies, looks at some of the steps you can...
As published in CK Momentum Issue 3 (Click here to download) The development and real estate industries have welcomed the passing of the Property Occupations Act 2014 (the Act) by Parliament with amendment on 7 May 2014. The Act will regulate property occupations and...
In the March edition of CK Momentum, we looked at the formalities of signing contracts. However, in some commercial dealings following the formal rules of, for example, having two directors sign a document or asking for a copy of a board resolution to verify a...
WHAT IS AN INDEMNITY? In its simplest form an indemnity is an agreement between two parties in which one party agrees to cover loss and damage suffered by another. As such indemnities are a very effective tool to allocate risk between transacting parties. The risk we...