Creditors beware: liquidator’s discretion not to call a creditor’s meeting upheld in NSWSC judgment
On 13 June 2025, the Honourable Black J delivered judgment in the Supreme Court of NSW in In the matter of Balamara Resources Limited (in liquidation) [2025] NSWSC 618. His Honour confirmed that the liquidators of Balamara Resources Limited (Balamara) were justified in declining to convene a meeting of the creditors of Balamara at the […]
ReadmoreA 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 […]
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 […]
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 […]
ReadmoreOwners Corporation update: Recent VCAT decision highlights the need for further legislative change
Owners Corporation PS738539K v Ka-Po was heard by the Victorian Civil and Administrative Tribunal (VCAT or the Tribunal) where the applicant, Owners Corporation PS738539K (the OC), sought orders pursuant to section 34D of the Subdivision Act 1988 (Vic) (the Act) to alter title boundaries in Plan of Subdivision PS738539K (Ka-Po case). The outcome of the […]
ReadmoreACCC v Hutchinson: understanding an “understanding”
Gadens acted for Hutchinson Builders (Hutchinson) in a recent High Court case,[1] in which the ACCC unsuccessfully sought to overturn a finding made by the Full Court[2] that an “understanding” for the purposes of s 45E(3) of the Competition and Consumer Act 2010 (Cth) (CCA) requires communication of assent that precedes and is distinct from […]
ReadmoreNational Integrity Spotlight – April 2025
In the first quarterly edition of the National Integrity Spotlight for 2025, we consider the latest update to the Corruptions Perception Index, legislative updates on whistleblowing and electoral reform,, and the findings of the Parliamentary Joint Committee on the NACC. We also consider updates from the NACC and state-based integrity organisations, as well as a […]
ReadmoreCorruption and Integrity Update March 2025
In this edition of the Queensland Corruption and Integrity Update we consider updates arising from the operations and oversight of the Office of the Information Commissioner and the Independent Assessor, as well as taking a deep dive into the proposed legislative amendments relating to the reporting of corruption by the Crime and Corruption Commission. Office […]
ReadmoreASIC succeeds in its third civil penalty prosecution for greenwashing, with the Federal Court imposing a $10.5 million penalty
Court findings On 18 March 2025, his Honour Justice O’Callaghan imposed a civil penalty of $10.5 million on the trustee of a superannuation fund, after finding that the fund had made false or misleading statements to current or potential members of the fund to the effect that: it eliminated from the fund, investments that posed […]
ReadmoreIntroduction of the Scams Prevention Framework
Scams represent a growing risk to Australians in an increasingly connected world, with losses from scams totalling approximately $2.7 billion to consumers in 2023. While various regulators, such as ASIC and the ACCC, both aided by the National Anti-Scam Centre, have made it clear that combatting scams is a priority in recent years, the passage […]
ReadmoreCorruption and Integrity Update – February 2025
In this edition of the Queensland Corruption and Integrity Update we consider the highly publicised release of the CCC reports into Mr Peter Carne and Ms Jackie Trad, as well as the tabling of the related Crime and Corruption (Restoring Reporting Powers) Amendment Bill 2025. We also consider the most recent updates from the CCC, […]
ReadmoreLegal Professional Privilege and Voluntary Disclosure to ASIC
The Full Court of the Federal Court of Australia has upheld an appeal by ASIC, finding that providing documents to ASIC pursuant to a Voluntary Disclosure Agreement does not necessarily constitute a waiver of legal professional privilege. Australian Securities and Investments Commission v Noumi Ltd [2024] FCA 349 is an important decision for the regulated […]
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