Pooling order for the win!
On 2 March 2023 the Supreme Court of Victoria published its reasons in the matter of Atlas Gaming Holdings Pty Ltd [2023] VSC 91 (the Atlas case) in which Gadens acted on behalf of the Liquidator of four companies seeking a pooling order pursuant to section 579E of the Corporations Act 2001 (Cth) (the Act). […]
ReadmoreReasonable notice claim costs employer
The recent case of Daigle v SCT Operations Pty Limited [2022] NSWDC 364 (Daigle) has highlighted the importance of ensuring that employees have an agreed, lawful period of notice of termination in their employment contract. In Daigle, a geotechnical engineer who had been employed for over 16 years was made redundant. Daigle’s contract did not […]
ReadmorePenalties for consumer law breaches on the rise: Federal Court finds Employsure penalty ‘manifestly inadequate’
The recent Employsure decision makes it very clear that penalties for breaches of the Australian Consumer Law (ACL), particularly where those breaches occur online, cannot be considered a ‘cost of doing business’ by companies assessing risks around particular conduct or the adequacy of their compliance program. The Full Federal Court, on an appeal brought by […]
ReadmoreIs it really chicken! VCAT says no, confirming Landlords are entitled to withhold consent to an assignment of lease
A recent VCAT decision, Southern Restaurants Pty Ltd v United Petroleum Pty Ltd [2022] VCAT 666, has confirmed that an objective test applies under Section 60(1)(a) of the Retail Leases Act 2003 (Vic) when landlords are looking to refuse consent to an assignment of a lease on the basis that an assignee proposes to use […]
ReadmoreNational Integrity Spotlight – January 2023
The inaugural National Integrity Spotlight highlights a number of key developments in the Federal integrity landscape in what is going to be a landmark year in this space. In this edition, we consider how organisations are preparing for the impending commencement of the National Anti-Corruption Commission (NACC) with reference to the Commonwealth Integrity Maturity Framework; […]
ReadmoreDoes the AFCA have jurisdiction to decide your financial dispute? Guidance from the decision in AgriWealth Capital Limited v Australian Financial Complaints Authority Limited [2022] FCA 1336
In a recent case concerning a complaint brought against a financial services business operating several registered forestry management investment schemes in New South Whales (the Complaint), the Federal Court of Australia considered an application that challenged the jurisdiction of the Australian Financial Complaints Authority Limited (AFCA) to decide the Complaint. Background Following the review of […]
ReadmoreFire in the house: Interest guaranteed despite extinguishment of debt under deed of company arrangement
The Victorian Court of Appeal has affirmed that whilst a company’s debts can be released to some extent under a DOCA, that section 444J of the Corporations Act 2001 (Cth) (Act) expressly provides for a creditor’s rights under a guarantee or indemnity. The Court found that the ultimate page of AOL’s trading account credit terms, […]
ReadmoreUnfair prejudice to members for share transfers during external administration? The court said no if the transfer gives benefits to the creditors and the company equity has no residual economic value
On 19 October 2022, the Federal Court of Australia made an order granting leave for the Deed Administrators to transfer all existing shares in the capital of the Collection House Limited to Credit Corp Group Limited, or its nominee, in accordance with the Deed of Company Arrangement entered into between the parties on 21 September […]
ReadmoreCricket Australia clean bowled – Federal Court orders Cricket Australia to remove evasive statements
In Seven Network (Operations) Limited v Cricket Australia, the Court made orders deferring any application for discovery until each of the parties had filed and served their evidence in chief. Further the Court ordered that Cricket Australia file an amended defence in accordance with the Federal Court Rules 2011 (Cth) to remove all references in […]
ReadmoreThe days have aligned: Queensland Court of Appeal confirms the prescribed period for issuing a payment schedule in response to a payment claim
Key takeaways The recent decision by the Queensland Court of Appeal in Allencon Pty Ltd v Palmgrove Holdings Pty Ltd trading as Carruthers Contracting[1] is a pertinent reminder to parties to a building and construction contract to carefully check: whether a timeframe under a contract refers to ‘day’, ‘working day’, ‘business day’, or similar – […]
ReadmoreMarket Integrity Rules Update: New Technological and Operational Resilience Rules to apply from 10 March 2023
Australia’s financial markets have become increasingly digitised and automated, such that the technological and operational risks faced by market operators and participants have simultaneously increased. This is not to mention that failures in this area, as seen for example in connection with the November 2020 ASX outage, ‘can have significant real-world consequences’[1]. As a result […]
ReadmoreFair Work Ombudsman takes holding company to court for alleged underpayments of subsidiaries
The Fair Work Ombudsman (FWO) has issued proceedings against a large, national retailing holding company and four of its subsidiaries in the Federal Court of Australia for alleged underpayments that occurred between January 2017 and March 2019. A refresher on the relevant law The Fair Work Act 2009 (Cth) (Act) makes it unlawful for employers […]
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