New development controls to protect koalas in South East Queensland
The koala is an Australian icon and was once commonly found in South East Queensland. However, as Brisbane and its surrounding communities have grown and expanded, koala populations have dramatically declined as a result of habitat loss and associated impacts from urbanisation. According to government figures, over the last twenty years, koala populations have decreased […]
ReadmoreVictoria to introduce offence of Industrial Manslaughter: What does it mean for employers?
The Victorian Parliament recently passed the Workplace Safety Legislation Amendment (Workplace Manslaughter and Other Matters) Bill 2019 (Bill), to introduce a new offence of ‘industrial manslaughter’ under section 39G of the Occupational Health and Safety Act 2004 (Vic) (OHS Act). The Bill comes just months after the national “Review of the model WHS laws: Final report” […]
ReadmoreInsolvent Corporate Trustees – a way forward to realising trust assets
The recent decision of Cremin, in the matter of Brimson Pty Ltd (In Liquidation) [2019] FCA 1023 (Cremin) helpfully clarifies the approach practitioners ought to adopt when realising the assets of an insolvent corporate trustee. Here, the liquidator was appointed to three companies which each operated “Snooze” franchises in their capacity as trustee of a […]
ReadmoreQueensland Supreme Court considers “unconventional” forms of security for costs and whether expert reports are privileged and not required to be disclosed
The case of Murphy v Gladstone Ports Corporation Ltd [2019] QSC 12 (Murphy v Gladstone Ports) examines whether: A deed of indemnity issued by a foreign company, coupled with the payment of money into Court for the purposes of enforcing the deed of indemnity in the foreign jurisdiction, is sufficient security for the purposes of […]
ReadmoreConcurrent appointments and priority creditors – who may distribute pursuant to section 561 of the Corporations Act?
In Kirman v RWE Robinson & Sons Pty Ltd (in liq), in the matter of RWE Robinson and Sons Pty Ltd (in liq) [2019] FCA 372, the Court helpfully clarifies who is entitled to make payments to priority creditors in scenarios where receivers and liquidators are concurrently appointed. Background RWE Robinson & Sons Pty Ltd […]
ReadmoreRed card for borrower claiming application fee as penalty
With the recent lending slowdown in the Australian banking sector, lead by the Banking Royal Commission, tougher lending standards and tighter serviceability requirements, demand for alternative non-bank lenders continues to increase. It is common for a non-bank lender’s lending terms to include an up-front arrangement or origination fee in respect of the establishment of the […]
ReadmoreCulture-related Regulatory Enforcement: Where might the Australian ‘BEAR’ go hunting?
This two-part briefing has been prepared for in-house legal, risk and compliance professionals in financial services firms, including insurance and superannuation entities. Part one of this briefing covers the following matters: Introduction to the “Banking Executive Accountability Regime” (BEAR) What is required under the regime and penalties for individuals and companies BEAR’s imminent expansion to […]
ReadmoreASIC appeals Westpac’s success in the responsible consumer lending test case
In Australian Securities and Investments Commission v Westpac Banking Corporation (Liability Trial) [2019] FCA 1244, the Australian Securities and Investments Commission (ASIC) has brought a ‘test case’ considering alleged breaches of responsible lending obligations against Westpac Banking Corporation (Westpac). In particular, ASIC alleged Westpac breached the National Consumer Credit Protection Act 2009 (Cth) (the Act) through the use of its […]
ReadmoreLender’s minor omissions have major impact in summary judgment application
In Secure Funding v West [2017] QDC 169, the District Court of Queensland provides a helpful reminder of the importance of complying with contractual and legislative notice requirements. As this case demonstrates, it is important for lenders to be able to demonstrate service of default notices so as to avoid minor omissions which can be costly. […]
ReadmoreMarshalling – what is it and how can it help a second registered mortgagee?
Marshalling is an equitable doctrine designed to protect second registered mortgagees from not being paid because of the arbitrary or capricious realisation of a security property by a prior mortgagee. In certain circumstances, a second registered mortgagee may be able to access surplus proceeds of sale from a property which it did not hold a mortgage […]
ReadmoreThe Victorian State Government’s Building Amendment (Cladding Rectification) Bill 2019 passes Parliament.
On 12 November 2019 the Building Amendment (Cladding Rectification) Bill 2019 passed State Parliament and the Building Amendment (Cladding Rectification) Act 2019 (new Act) has now received Royal Assent. The new Act enacts the State Government’s consumer focused ‘rescue package’ in relation to the funding of ‘cladding rectification work’[1] associated with ‘non-compliant or non-conforming external […]
ReadmoreTermination of construction contracts – the issue of good faith
Bundanoon Sandstone Pty Ltd v Cenric Group Pty Ltd [2019] NSWCA 87 (30 April 2019) (Meagher, Gleeson and McCallum JJA). Issue and Outcome The NSW Court of Appeal held that a show cause notice issued by a principal under a construction contract was not issued in good faith (because it was redolent of bad […]
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