Borrowers punished for behaving unconscionably in taking advantage of a lender’s mistake
The New South Wales Supreme Court decision of Citigroup v Wernhard [2019] NSWSC 132 considers whether certain conduct by the borrowers was unconscionable (as against a lender). Borrowers sold one of three properties that was held as security for loans to them, but the lender mistakenly released mortgages over all three. The borrowers noticed the mistake, subsequently sold […]
ReadmoreEmployment Lifecycle Series | Managing employees’ poor performance
You have successfully recruited the right candidate and prepared the new recruit for success through your effective and structured induction program. Unfortunately, employees do not always perform to the standard that is required or expected, or you may receive a complaint about an employee regarding an incident which can be regarded as misconduct. At this […]
ReadmoreProvider registrations by the NDIS Commission
In order to successfully obtain provider registration through the NDIS Commission, disability service providers must: Comply with the new conditions of registration and the NDIS Practice Standards; Complete a self-assessment against the NDIS Practice Standards; Complete an audit against the NDIS Practice Standards by a certified auditing body; Comply with the new NDIS Code of […]
ReadmoreSeven Year Hitch – PPSR turns 7 years old
On 30 January 2012 the “Personal Property Securities Register” (PPSR) commenced operations. The PPSR is an electronic register of security interests which was established under section 147 of the Personal Property Securities Act 2009 (Cth) (PPSA). This commencement date of 30 January 2012 means that on 30 January 2019 the PPSR turned seven years old. […]
ReadmoreNDIS Quality and Safeguards Commission, what will it mean for providers and participants in residential aged care?
Background to the NDIS Commission The NDIS Commission is intended to improve the quality of NDIS services by implementing national legislation that eliminates duplication across the registration and quality assurance of NDIS providers. As the NDIS Commission is rolled out across the country, multijurisdictional providers may find themselves holding registrations under the NDIS Commission […]
ReadmoreBanks to take extra care with vulnerable customers
The new Banking Code of Practice, which commences on 1 July 2019, requires member banks to train their staff to take extra care with vulnerable customers, by acting with sensitivity, respect and compassion.
ReadmoreNot registering on the PPSR against an ACN CAN cause headaches
Yoni Baker, Lawyer, Melbourne In the recent case of IBM Global Financing Australia v Applied Business Technology Pty Ltd [2018] NSWSC 1984, corrupted internal procedures led to a number of registration errors on the Personal Property Securities Register (PPSR). Whilst relief was ultimately granted, the case is useful for highlighting the extensive time, effort and […]
ReadmoreCommon PPS Registration errors – what to do about them
The most common way for secured parties to perfect their security interests in personal property is by registration on the Personal Properties Securities Register. Download our process guide for details: Authored by: James Roland, Partner Clementine Woodhouse, Associate
ReadmoreDeath and taxes – one’s really going to hurt
As you will be aware, between February and May each year, the State Revenue Office issues land tax assessments for the calendar year to Victorian land owners (except where all landholding is exempt). The 2019 land tax assessment assesses landholdings owned by a land owner as at midnight on 31 December 2018. With property prices […]
ReadmorePPSR Registrations – the importance of getting it right
With the commencement of the Personal Property Securities Act 2009 (Cth) (PPSA) now more than seven years behind us, the importance of registering your security interests and getting the registrations right has become very apparent. A number of cases over these years demonstrate the cost of not having appropriate procedures in place for making registrations […]
ReadmoreEstablishing a payment default – minimum requirements for evidentiary certificates
Financiers take note. Proving a payment default may not be as straightforward as one would have you believe. The recent case of RHG Mortgage Corporation Ltd v Summerfield [2019] NSWCA 44 provides some helpful guidance on the minimum requirements for evidentiary certificates in establishing a payment default under a loan agreement. The facts The […]
ReadmoreMajor changes to privacy law announced – but will they be implemented?
Key points Commonwealth Government announces large increases to penalties for privacy breaches Regulator to receive funding boost and additional enforcement powers Social media sites and other online platforms face further specific privacy requirements Looming Federal election leaves some uncertainty over whether changes will be implemented Mosque massacre prompts Government into action on privacy law reform […]
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