Financial Services Royal Commission – where to after the federal election
Prior to the federal election held on 18 May 2019, there was frenetic discussion and debate over the 76 recommendations made by Commissioner Hayne AC QC in his final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Service Industry. Both major political parties promised reform, however, the extent of industry […]
ReadmoreWhen will a court impose a trust relationship in commercial agreements such as franchises?
In Re Stay in Bed Milk & Bread Pty Ltd (In Liquidation) ACN 115 166 982 [2019] VSC 181, the Court considered whether monies paid into a marketing fund by franchisees gave rise to a trust relationship. Background and the parties’ arguments Stay in Bed Milk & Bread Pty Ltd (the Company) was the franchisor of the […]
ReadmoreeDiscovery and eTrials in the Supreme Court of Queensland
Litigation can be costly. In particular, the discovery stage can form one of the most expensive phases of the litigation process. The Court and practitioners alike are increasingly turning to technological solutions to reduce the time and cost of the discovery process. Taking into account such factors, Gadens were recently involved in a proceeding in […]
ReadmoreModern slavery reporting: NSW legislation update
Over a year since the Modern Slavery Act 2018 (NSW) (Act) was passed by Parliament, the legislation is still yet to come into force, or even have a date set for doing so. Since that time, the Federal Modern Slavery Act 2018 (Cth) has passed and come into effect (see our previous article on that […]
ReadmoreAre you aware of the new changes to Home Care Agreements commencing 1 July 2019?
Under the new Pricing Principles, home care providers are required to publish the prices of the most common services and costs under their Home Care Packages in a standardised Schedule on the My Aged Care website. This must be done by 1 July 2019, and is intended to allow consumers to better understand and compare […]
ReadmoreProprietary company changes – are you still “large”?
From 1 July 2019, changes to the regime governing reporting obligations of Australian proprietary companies will come into effect with the thresholds that determine when a company is a “large” proprietary company to be doubled. For Australian proprietary companies, the Corporations Act 2001 (Cth) (Corporations Act) generally imposes less onerous financial reporting obligations than those […]
ReadmorePractical implications of the Voluntary Assisted Dying Act on aged care providers
The Voluntary Assisted Dying Act 2017 (Vic) (‘the VAD Act’) becomes operational on 19 June 2019. The VAD Act creates a framework which enables Victorians who have a terminal illness and who meet strict eligibility criteria to legally request to end their life. The Victorian legislation designated an 18 month implementation period to give health […]
ReadmoreNew whistleblowing laws – are you ready?
The Australian corporate whistleblowing regime has recently been significantly amended by the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 (Cth), which was passed by the Federal parliament on 19 February 2019. That legislation comes into operation from 1 July 2019 and creates a large compliance burden for employers. To understand the legislation, new obligations […]
ReadmoreDeeds of cross-guarantee as lease security – what a landlord needs to know
We have recently seen deeds of cross-guarantee being offered up by tenants looking to provide landlords with alternative forms of security to bank guarantees, as banks tighten up lending requirements, or parent company guarantees. What is a cross-guarantee? Typically a deed of cross-guarantee is lodged by a parent company with ASIC in support of […]
ReadmoreStamp duty changes to hit residential developments in Victoria
The Victorian Government is proposing a sweeping reform of the “economic entitlement” provisions of the Victorian duties legislation. The result of the proposed changes would be to effectively bring to duty a common form of project funding and structuring used for residential developments in Victoria. Typically these transactions enable a residential developer to secure rights […]
ReadmoreRelease of liability clauses: how far can they go?
It is a well-established legal principle that a release clause in a settlement deed will only be effective to the extent it releases a party from liability in respect of matters that are in the contemplation of the parties at the time it is provided. Notwithstanding this, it is not uncommon to see release clauses […]
ReadmoreLiquidators settling court proceedings: the importance of creditors’ wishes
As is illustrated by the recent Supreme Court of Victoria Court of Appeal decision in McDermott and Potts as liquidators of Lonnex Pty Ltd (in liquidation), creditors’ wishes are important when a liquidator is looking to settle court proceedings. Though liquidators should not act at the dictation of creditors, it is important to bear in […]
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