Gadens Connect | 2020 Edition One
Welcome to Gadens Connect – a newsletter to share insights, trends and opportunities for our clients in the financial services industry. In this edition we share some key performance insights from 2019 and provide an overview of topics including updates to our GPSR platform (automation and integration solutions), MIP sale obligations and updates to the […]
ReadmoreConsiderations for an early release of superannuation request
Quite often a lender will receive a request from their customer to support an early release of superannuation to assist with mortgage repayments and pay outstanding arrears in situations where the lender has commenced enforcement action for possession of the mortgaged property. Click here for full size image. […]
ReadmoreUpdate: Banking Code of Practice
Following recommendations made by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry, ASIC has approved an updated version of the Banking Code of Practice, which will take effect from 1 March 2020. Click here to download the full article. […]
ReadmoreLife cycle of litigation beyond life: deceased estates
What do you do when there is no-one to sue? In the Supreme and County Courts in Victoria, there is a civil procedure when the defendant is deceased or dies and a cause of action survives. See below our overview of this procedure. Click here to view the full size PDF. […]
ReadmoreWhen things go wrong for banking customers – the new Banking Code will help with deceased estates
The new Banking Code, which commenced on 1 July 2019, contains a new section under Part 9, Chapter 45 on helping with deceased estates. Click here to view the full size PDF. Legal Insight | Life cycle of litigation beyond life: deceased estates
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.
ReadmoreTo Make Oath and Say or to Declare and Affirm?
On 1 March 2019, the Oaths and Affirmations Act 2018 (Vic) (the Act) came into effect and is now the ‘go to’ piece of legislation for the law relating to oaths, affirmations, affidavits and statutory declarations in Victoria. It has also established a scheme for the certification of copies of documents. Essentially, the Act has […]
ReadmoreCommunication and Transparency is Key
If you are a mortgagee, or acting for one, it is likely you will encounter a situation where the mortgagee is entitled to possession of, and to sell, a rented premises under a mortgage which was entered into before the tenancy agreement. If you find yourself in this scenario you must first issue a notice […]
ReadmoreIntroducing the Australian Financial Complaints Authority: A Comparison Guide
The Australian Financial Complaints Authority commences on 1 November 2018. We have prepared this guide which sets out some of the key differences between FOS and AFCA and their jurisdiction to consider complaints. Click here to view. Authored by: Annette Gaber, Partner Clementine Woodhouse, Associate
ReadmoreA snapshot of the changes to the Residential Tenancies Act 1997
On 6 September 2018 the Residential Tenancies Amendment Bill 2018 was passed by Parliament and included more than 130 reforms which aim to increase protection for renters. The Residential Tenancies Amendment Act 2018 (RTAA) is due to come into effect progressively and completely, by 1 July 2020 and will amend the Residential Tenancies Act 1997 […]
ReadmoreRights of a mortgagee dispossessed of land
If you are a mortgagee, or acting for one, you may encounter a situation where you have obtained judgment against a mortgagor for possession of land and, after executing a warrant of possession to gain vacant possession, the mortgagor and/or their associates have unlawfully re-entered the property. In a recent Supreme Court of Victoria case[1] […]
ReadmoreNew Banking Code of Practice
With demand for the banks to meet community standards, the ABA has released the new Banking Code of Practice to enhance banking services, with effect from 1 July 2019. Click here for full size image. Authored by: Annette Gaber, Partner Anna Koumides, Senior Associate
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