A cold winter for the A Team – Court freezes funds and assets
Between 31 May 2022 and 7 June 2022, ASIC obtained three freezing orders against the Mr Hopkins and his companies. In doing so, the Federal Court of Australia ordered: 1) the Defendants’ assets be frozen; 2) the disclosure of existing assets to the Court; 3) the appointment of a receiver over digital assets; and 4) […]
ReadmoreAnti-phoenixing laws demystified: The Victorian Supreme Court considers the creditor-defeating disposition regime
In Re Intellicomms Pty Ltd (in liq) [2022] VSC 228, it was determined that a sale agreement was a creditor-defeating disposition within the meaning of section 588FDB of the Corporations Act 2001 (Cth) (Act) and voidable pursuant to section 588FE(6B) of the Act. The Court held that, the consideration payable by the transaction was less […]
ReadmoreAn easy win? Obtaining summary judgment in the absence of the Defendant
In the matter of Squirrel Limited (In Liquidation), the Court considered an application for summary judgement against a director for insolvent trading. In doing so, the Court considered the principles underpinning a director’s duty to prevent insolvent trading and the compensation payable as a result. Background The first plaintiffs, Mr Brent Kijurina and Mr Richard […]
ReadmoreTrade Promotions update | Games of Chance: July 2022 Permit Fees
The regulators have increased their Trade Promotion permit application fees, effective 1 July. Click below to read the full update. If you found this insight article useful and you would like to subscribe to Gadens’ updates, click here. Authored by: David Smith, Partner Sonja Muzoska, Paralegal Jade Lamb, Paralegal Dani Fletcher, Paralegal
ReadmoreChanges to Victorian planning law to support environmentally sustainable developments
The Minister for Planning has approved Amendment VC216 (Amendment), with the changes to the Victorian Planning Provisions taking effect from 10 June 2022. What does the Amendment do? The Amendment makes changes to the Victoria Planning Provisions and all local Planning Schemes to support environmentally sustainable development (ESD) outcomes. For the first time, all local […]
ReadmoreVaccination mandates end for most workplaces in Victoria
Following the Victorian Government’s announcement that it would lift vaccination mandates other than for workers who interact with vulnerable persons, the Pandemic (Workplace) Order 2022 (No. 9) (Order) has now been made. Mandates ended for most workplaces As a result of the Order, from 11.59pm on Friday, 24 June 2022 the following workers are no longer […]
ReadmoreIndustrial Relations and Other Legislation Amendment Bill 2022
Introduction The Queensland Government introduced the Industrial Relations and Other Legislation Amendment Bill 2022 (Bill) into Parliament on 23 June 2022. The Bill proposes various amendments to the Industrial Relations Act 2016 (QLD) (IR Act) in response to the recommendations of an independent five-year review into the IR Act. The changes to Queensland’s industrial laws […]
ReadmoreVaccination mandates in Victorian schools are lifted
The Victorian Government announced on 18 June 2022 that it proposed to lift its imposed third dose mandates in education. This has now been done. Lifting of mandates All vaccination mandates for education workers in Victoria were lifted from 11.59pm on Friday, 24 June 2022 under Pandemic (Workplace) Order 2022 (No 9). The Pandemic Order […]
ReadmoreReminder and ASIC practical guidance regarding important amendments that apply to financial advisors and clients regarding their ongoing fee arrangement obligations
The obligation to give clients a fee disclosure statement (FDS) annually where there is an ongoing fee arrangement has applied since 1 July 2012. From 1 July 2021, two broad additional obligations have applied between both advisors and clients where there is an ongoing fee arrangement (OFA) in place. These additional obligations were introduced by […]
ReadmoreAdvertising under the influencers and changes to the TGA Code: Are you ready for 1 July 2022?
We are in a transition period in the world of therapeutic goods advertisements (TG Advertisements). Currently, TG Advertisements must comply with either the Therapeutic Goods Advertising Code (No.2) 2018 (Cth) (Former Code) or the Therapeutic Goods (Therapeutic Goods Advertising Code) Instrument 2021 (Cth) (New Code). The transition period ends on 30 June 2022. A caveat […]
ReadmoreWho has the match? Anti-money laundering and cryptocurrency
Combining Anti-Money Laundering (AML) considerations with cryptocurrency technology is akin to adding gasoline to a bonfire. It is a hot topic on the mind of every member of the global financial services industry. How are we to regulate and manage a new technology that seems to feed into the hands of money launderers? As AUSTRAC […]
ReadmoreHow can insurance providers stay ahead of the implementation of CDR in 2022?
Consumer Data Right presents new legal risks and challenges for insurers. Consumer Data Right (CDR) gives a consumer more control over their information, enabling them to access and share their data with accredited third parties to obtain better deals on everyday products and services. The Australian Government sees the CDR as central to driving competition […]
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