Business and Corporate

Business and Corporate

ICON – Trading Names, Trade Marks and Reputation Risk

“Please be advised the matter surrounding the Opal Tower Homebush was not built by our company. The building was built by a company with a similar trading name. Note the two companies have nothing to do with each other.” This statement appears on the landing page of the website of a Sydney based construction company

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Verbal Contracts – Worth the Paper They are Written On?

Can a verbal promise from a good friend be a binding contract? It depends: “… not every promise, however sincerely made, is legally enforceable”: per Campbell J in the recent Supreme Court of NSW case of Winter v Nemet. This case considered such an issue over a three day hearing and then on appeal. Substantial

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Appointing a Receiver over an insolvent trustee company’s assets – some practical observations.

We recently acted for a liquidator of an insolvent SME trustee company. The trust deed automatically disqualified the company from being the trustee on its liquidation. Unsurprisingly, no third party stepped up to be appointed the new trustee of an insolvent trust, via the trust deed appointment provisions. Acting cautiously under the current law, for

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Statutory Demands: What to do about post-judgment interest

A Creditor’s Statutory Demand (CSD) is a formal document which if in the proper form, and is served correctly, requires the company served to either: pay the amount demanded (which must be over $2,000) within 21 calendar days– otherwise the company will be deemed insolvent and could eventually be wound up and a liquidator appointed; or

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Arbitration Clauses: Positives and Pitfalls

We often see commercial agreements with a dispute resolution clause that requires the parties to attend mediation to resolve a dispute and, in the event that mediation fails, directs that the dispute proceed to arbitration – as opposed to Court.   Every agreement should be considered on its merits in deciding whether to include an

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Merry Christmas: There’s a Creditor’s Statutory Demand under your Christmas Tree!

It’s that time of year as businesses prepare to close for a week or two during the Christmas/New Year period.  That shut down period is dangerous for businesses because of a time-critical mechanism within the Corporations Act 2001 (Cth) called a creditor’s statutory demand (CSD).  It is important therefore: to make sure that your registered

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Got them by the guarantee! Have you really?    

Personal guarantees from company directors or others are often used to secure performance of many company transactions such as leases, credit agreements for supply and loans. Where companies fail to perform their obligations, and have few or no assets, the last throw of the dice to potentially recover proceeds is to sue on the personal

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ACCC reviews small business contracts for unfair terms

Standard form contracts with small businesses are now subject to Australian Consumer Law provisions on unfair contract terms. The provisions apply to any new or renewed standard form contract entered into on or after 12 November 2016. The definition of a small business and the standard form contract to which the laws apply are found

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Are you being fair?  Are they being unfair? 

Implementation of small business protections under the unfair contract provisions of the Australian Consumer Law (ACL) and the Australian Securities and Investments Commission Act (ASIC Act) begin on 12 November 2016  It has been almost a year since the Federal Government passed legislation amending the ACL and the ASIC Act extending the unfair contract terms

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Preparation of Shareholder Agreements in Practice

This is a paper presented by Peter English for a Legalwise seminar held in March of this year. Please click the link to download the paper in full  Preparation of Shareholder Agreements in Practice

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False billing scams targeting small businesses

The Australian Competition and Consumer Commission (ACCC) has again warned small business owners about false billing scams. Here’s what you need to know.

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SME Shareholder Agreements – preventative medicine

I have recently acted in a number of SME (small to medium size enterprises) shareholder disputes requiring my disputes and insolvency expertise. These disputes came about as result of diminishing profits and the financial pressures then faced by the directors. I have seen many other triggers cause a serious breakdown of trust between SME owners and a consequent dispute or management deadlock.

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Harmonisation of OH&S laws: New obligations placed on Directors

Recent changes to OH&S laws and the scope of Director’s liability

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Australian Consumer Law & Your Business

From 1 January 2011, every Australian business will have the same rights and responsibilities under the Australian Consumer Law. By knowing your rights and responsibilities, you can look after your business and your customers.

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Consumer Gurantees: A Guide for Businesses & Legal Practitioners

A guide to the Australian Consumer Law (ACL), developed by Australia’s consumer protection agencies to help businesses understand their responsibilities under the law.

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