Ipso Facto Reform: ‘A breath of fresh air’ for distressed Companies; and a major change to Contract Law. Are you prepared?

Category : Articles, Commercial Law

Ipso facto provisions are a common staple found in almost every commercial Contract one can think of but, starting from 1 July 2018, there will be new laws which

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‘Money never sleeps’ and neither does ASIC: disqualification as a Director pursuant to Section 206F Corporations Act 2001

Category : Articles, Commercial Law

During the corporate excitement of entrepreneurial risk-taking in a limited liability Company, thought is not usually given to the possibility that a Director may be disqualified if ‘things go wrong’. Even in the event of liquidation of a Company, Directors are – notwithstanding the ‘corporate veil’ – more likely to be concerned about Director’s liability and losing their assets or, in extreme circumstances, criminal liability.

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Mediation or Trial?

In times of significant conflict, a trial can be seen as the best option moving forward. While it is needed in some cases, it isn’t required for all. Outcomes available at trial can often be limited, and there can be risks including prohibitive legal costs and lengthy court delays.

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Verbal promise of “I’ll definitely pay you back the monies and even more” found legally binding: the Berghan decision

Category : Articles, Commercial Law

The phrase “don’t expect to get your money back if you loan it to family or friends” is common but a misconception according to a significant decision handed down by the Queensland Supreme Court of Appeal on 13 October 2017.

While verbal agreements for monies loaned to family

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Increased liability for Franchisors

There is significant movement in the franchisee and franchisor space at the moment with franchisors being held increasingly accountable for the actions of franchisees and for failing to adhere to certain requirements under the Franchising Code of Conduct.

In May of this year, the Australian Competition and Consumer Commission (ACCC) fired a warning shot at franchisors, issuing of almost $20,000 in fines to Domino’s Pizza Enterprises Ltd for failing to adequately satisfy disclosure requirements under

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Unfair contract terms, small business, Lawyers advice, Lawyers for Employers

Reminder: Small businesses are now protected against unfair contract terms

In case you missed the announcement on the 12th of November 2016, the Unfair Contract Terms provisions of the Australian Consumer Law (ACL) were extended to cover small business. In effect,

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