“Cracking the Code” – The Khoury Review
The Australian Bankers’ Association (ABA) commissioned a review of the Code of Banking Practice (Code) as part of a range of industry initiatives announced on 21 April 2016 (Review). Broadly speaking, the Terms of Reference for the Review are to identify whether the Code is serving its purpose, is meeting reasonable stakeholder expectations and where […]
ReadmorePossession Proceedings Against Deceased Estates in Victoria
Where a registered proprietor of real property is deceased, in Victoria court proceedings may be commenced against the personal representative of the estate. The personal representative is identified by the grant of probate or letters of administration. In some cases an estate does not have a personal representative appointed. This can be due to the […]
ReadmoreInsolvency Update | Small Business Loans Inquiry
The Report into the Bank’s small business lending practices has been released today by the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell AO. Whilst concentrating on the Bank’s practices, some of the Report’s 15 recommendations have a direct bearing on the interaction of Insolvency Practitioners with their Banking clients. In particular, in relation […]
ReadmoreLenders can be liable for FHOG refunds
Recent amendments to the First Home Owner Grant Act 2000 (Vic) (FHOG Act) will enable the State Revenue Office (SRO) to recover first home owner grant (FHOG) payments from third parties such as lenders. This means that where homeowners have received a grant payment that they were ineligible for, or that they have subsequently become […]
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