A matter of trust: High Court rejects trust creditor claims against third party recipients of trust property
In a 4:3 split decision, the High Court of Australia clarified that a successor trustee does not owe a fiduciary duty to a former trustee in respect of the former trustee’s entitlement to indemnification from trust assets.[1] The High Court judgment confirms that former trustees (and their trust creditors) have no independent recourse against a […]
ReadmoreIs your business ready for Australia’s new AML/CTF reforms?
Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime is undergoing major reforms to bring it in-line with international standards set by global financial crime watchdog, the Financial Action Task Force. New and reframed obligations will commence from 31 March 2026 for existing Reporting Entities (REs), and from 1 July 2026 numerous businesses operating in industries […]
ReadmoreNew mandatory ransomware payment reporting obligations now in force
Introduction Australia has taken a bold step in strengthening its cyber resilience with the introduction of the mandatory ransomware and cyber extortion payment reporting regime under Part 3 of the Cyber Security Act 2024 (Cyber Security Act). Effective from 30 May 2025, this new regime requires certain entities – including businesses with an annual turnover exceeding $3 million and […]
ReadmoreWhyalla wipeout: State-sponsored upending of creditor waterfall?
Synopsis A fundamental purpose of Australia’s formal corporate insolvency laws is the provision of fair and orderly processes (administered by an independent external administrator typically appointed either by the insolvent company’s directors or its most significant secured creditor) for dealing with the company’s financial affairs. Such processes contemplate ‘pari passu’ distribution between unsecured creditors subject […]
ReadmoreFull Federal Court decision in BPS Financial litigation – More questions than answers for AFS licensees and authorised representatives?
In the latest development in ASIC’s litigation against digital asset business BPS Financial Ltd (BPS), on 30 May 2025 the Full Federal Court has allowed ASIC’s appeal against the primary judge’s decision that BPS was entitled to rely on the widely utilised ‘authorised representative’ exemption (AR Exemption) in section 911A(2)(a)(i) of the Corporations Act for […]
ReadmoreShow some restraint: the Federal Government’s changes to non-compete clauses are coming
Minister for Employment and Workplace Relations, Amanda Rishworth, has confirmed that Labor will press ahead as a “real priority” with their election commitment to ban non-compete clauses for low and middle-income earners. These proposed reforms are part of a broader agenda aimed at “encouraging aspiration, unlocking opportunity, lifting wages and making Australia’s economy more dynamic […]
ReadmoreCorruption and Integrity Update May 2025
In this edition of the Queensland Corruption and Integrity Update we consider various updates related to the CCC, including matters before the Parliamentary Crime and Corruption Committee. We also consider updates from the Office of the Information Commissioner (OIC) and Queensland Ombudsman. Parliamentary Crime and Corruption Committee Public Meetings On 13 May 2025, the Parliamentary […]
ReadmoreCEG Direct Securities v Runtong: Full Federal Court overturns decision in a victory for secured creditors
The Full Federal Court has confirmed the validity of the longstanding practice deployed by credit providers of seeking cross-security from a borrower’s related entities (particularly in the context of the financing of commercial projects by that corporate group). In rejecting the liquidator’s characterisation of such a transaction as constituting an unreasonable director-related transaction, the Full […]
ReadmoreA recipe for controversy: RecipeTin Eats and Bake with Brooki
Key takeaways Although you cannot copyright a caramel slice itself, copyright can subsist in the written recipe as a literary work. However, enforcement is likely to be difficult. Chefs and bakers often draw inspiration from each other’s recipes. However, it is generally expected to seek consent and provide credit or attribution, both respecting moral rights and […]
ReadmoreFederal election 2025 result: Employment and industrial relations reforms
Following the re-election of the Albanese Labor Government, employers can expect further industrial relations reform underpinned by principles to provide increased employee and union protections. Many businesses are likely to be impacted by changes including the continued regulation of labour hire, changes to superannuation and post-employment restraints with the reforms set to benefit a broad […]
ReadmoreCrypto judgment overturned: Block Earner succeeds in cross-appeal against ASIC
*Article updated as of 22 May 2025 The Full Court of the Federal Court of Australia handed down its much-awaited decision on 22 April 2025, overturning the judgment of Justice Jackman in the Block Earner case.[1] The decision should give digital asset providers and market participants further clarity around the application of the complex financial services regime […]
ReadmoreConsumer Express | May 2025 Edition
In the May 2025 edition of Consumer Express, we focus on the key developments impacting our consumer clients, including the positive duty to prevent unlawful sexual discrimination, updates on wage theft laws, and the complexities surrounding retail lease rent reviews. We also take a closer look at the ACCC’s 2025-2026 enforcement priorities and the potential […]
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