Corruption and Integrity Update – November 2022
This month’s Corruption and Integrity Update features details of the National Anti-Corruption Commission legislation recently passed, the Commission of Inquiry into the Queensland Police Service’s responses to domestic and family violence final report, details on the implementation of the recommendations arising from the Fitzgerald 2.0 report and updates on both the Public Sector Bill 2022 […]
ReadmoreAFCA has the final word: Courts will only disturb AFCA determinations in limited circumstances
Australia Capital Financial Management Pty Ltd v Australian Financial Complaints Authority Limited [2022] NSWCA 204 The NSW Court of Appeal has upheld a decision that AFCA had jurisdiction to decide that a lender engaged in unconscionable conduct by taking a guarantee such that it was unenforceable and compensation had to be paid, despite the lender […]
ReadmoreChanges to Victoria’s Farm Debt Mediation Act
On 1 December 2011, the Farm Debt Mediation Act 2011 (Vic) (FDMA) was introduced in Victoria. The purpose of the Act is to provide for the efficient and equitable resolution of farm debt disputes between a creditor and a farmer. The FDMA provides a farmer with an option to mediate before a creditor takes possession […]
ReadmoreIncreased competition and consumer law penalties now take effect
The maximum penalties for contraventions of competition law prohibitions in the Competition and Consumer Act 2010 (Cth) and offence and civil penalty provisions in the Australian Consumer Law have now markedly increased following the Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) having received the Royal Assent. Of particular note, the maximum penalty for […]
ReadmoreCartel Update: First criminal cartel jail sentence handed down by Federal Court of Australia
The Federal Court of Australia has affirmed its position that any cartel conduct, as prohibited by the Competition and Consumer Act 2010 (Cth) (CCA), will be treated extremely seriously by the Courts and that in addition to companies involved in such behaviour being prosecuted and fined, that the Courts have every intention to hold individual […]
ReadmoreProper construction – the meaning of “for” within the context of section 6(5) of the National Credit Code
In the matter of Australian Securities and Investments Commission v BHF Solutions Pty Ltd [2022] FCAFC 108, the Court considered whether one or more of the fees charged by the Second Respondent could be considered “a charge that is or may be made for providing the credit” within the meaning of s 6(5) of the […]
ReadmoreTransfers to defeat creditors – contextualisation is all important
The Full Federal Court, overturning Flick’s J decision at first instance ([2020] FCA 1759), found that the bankrupt’s main purpose in transferring their property was, in substance, not to prevent, hinder or delay this property becoming divisible amongst his creditors in breach of s 121(1) of the Bankruptcy Act 1966 (Cth). The Full Court outlined […]
ReadmoreCourt grants orders vesting interest in property that had previously been disclaimed
On 29 June 2022, the Federal Court of Australia made an order vesting an interest in a half share of land in Aaron Kevin Lucan in his capacity as trustee (the Trustee) of the bankrupt estate of Christopher Williams (the Bankrupt Estate). The Trustee was seeking an order pursuant to section 133(9) and/or section 30(1)(b) […]
ReadmoreCorruption and Integrity Update – October 2022
This month’s Corruption and Integrity Update considers the progress made towards the National-Anti-Corruption Commission (NACC), including where money is being directed under the latest budget; the Royal Commission into Robodebt which has just commenced public hearings; recent Queensland Integrity Reforms; and a status update from the Queensland Auditor-General. National Anti-Corruption Commission (NACC) Joint Select Committee […]
ReadmoreQueensland Occupational and Professional Disciplinary Update
The end of September saw the tabling of a series of Annual Reports to the Queensland Parliament. Within these reports were details from the various regulators operating in the occupational and professional disciplinary space that plays out across the Queensland Civil and Administrative Tribunal (QCAT), the Magistrates Court of Queensland and related jurisdictions. We have […]
ReadmoreWhat goes up, must come down – Declining property values, rising interest rates, mortgage distress and assisting through financial difficulty
Partner Sonia Apikian and Senior Associate Susan Verginis discuss trends on Australian housing values, interest rates and their impact upon mortgage distress, with a focus on how lenders can assist their customers through financial difficulty. Click below to read the full article. If you found this insight article useful and you would like to subscribe […]
ReadmoreBuy Now Pay Later: Industry awaiting Issues Paper with bated breath
For better or worse, the Buy Now Pay Later (BNPL) industry has continued to make headlines since our last report. The sector’s meteoric rise has been tempered in recent months by a combination of market saturation, broader macroeconomic factors, and, most recently, a new political climate. The new Labor Government has made clear its intentions […]
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