Impact on mortgagees of a bankruptcy trustee’s disclaimer of mortgaged land

A mortgagee may be faced with a situation where the mortgagor becomes bankrupt and the trustee, in which the property then vests, disclaims the mortgaged property. We outline the process a mortgagee is required to follow when a mortgaged property has been disclaimed and summarise the key issues considered by the Court. Click below to […]

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The Jack saga: the future of decisions on intentional doping and a substandard process

Anticipated to be announced this week, the appellate decision by a panel of the Court of Arbitration of Sport (CAS) in CAS 2020/A/7579 World Anti-Doping Agency v. Swimming Australia, Sport Integrity Australia & Shayna Jack and CAS 2020/A/7580 Sport Integrity Australia v. Shayna Jack & Swimming Australia Limited is expected to strongly influence future anti-doping […]

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Move to permanent reforms to the Corporations Act – electronic signatures, virtual meetings

The Federal Government has released the exposure draft of legislation (Exposure Draft) amending the Corporations Act 2001 (Cth) (Corporations Act) to allow for technologically-assisted meetings and the long-awaited electronic execution of company documents. As noted in our previous article, the emergency reforms under Corporations (Coronavirus Economic Response) Determination (No. 3) 2020 expired on 21 March […]

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ATO on the watch after liquidators claw back funds despite a Deed of Company Arrangement

In the matter of Western Port Holdings Pty Ltd (receivers and managers appointed)(in liq) [2021] NSWSC 232, Deed Administrators who were subsequently appointed Liquidators of Western Port Holdings Pty Ltd (the Company) clawed back over $2 million worth of payments made to the Australian Taxation Office (ATO) whilst the Company was subject to a Deed […]

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Federal Court approves administrators’ entry into funding deed to trade company pending sale

Section 90-15 of the Insolvency Practice Schedule (the IPS) confers on Courts wide powers to adjust rights related to companies in external administration. Here, the administrators of a mining group obtained orders approving their entry into a deed to fund the ongoing operation of the group pending sale and limiting their liability under the deed […]

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Federal Court considers whether bankrupt’s property should vest in mortgagees following disclaimer by bankruptcy trustee

The Federal Court’s recent decision in Kellendonk[1] concerned a $350,000 loan made by the applicants, Mr and Mrs Kellendonk, to Ms Maria Jasienska-Dudek to help her buy a property in Midland, Western Australia (Property). Ms Jasienska-Dudek defaulted under the loan agreement and the parties subsequently entered an informal agreement which, after Ms Jasienska-Dudek became a […]

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It’s a brave new world: NZ and Australian courts join to determine a high profile, cross-border insolvency

Cross-border insolvency has ventured into new territory as a judgment is released from the first contemporaneous sitting of the Federal Court of Australia and the High Court of New Zealand. Liquidators originally sought separate directions from each Court regarding the distribution of funds from the insolvency of Halifax New Zealand Ltd (Halifax NZ) and Halifax […]

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Managing supply shortages and rising construction costs

As countries around the world counter the economic effects of COVID-19 by undertaking infrastructure projects and stimulating domestic construction, this has impacted global construction markets by creating: a shortage of some building materials; unpredictability in whether materials will be readily available when required; and upward pressure on labour and materials costs. To tackle these issues […]

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EU Standard Contractual Clauses – out with the old and in with the new!

On 4 June 2021, the European Commission (EC) released the highly anticipated new Standard Contractual Clauses (SCCs) for cross-border transfers of data under the European Union’s (EU) General Data Protection Regulation (GDPR). The SCCs are a vital tool to enable the compliant international transfer of personal data from the EEA. The new SCCs take into […]

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‘A reasonable and commercial construction?’ Patent time extensions after Ono Pharmaceuticals

The Federal Court of Australia has ordered the Commissioner of Patents to grant Bristol Myer Squibb (BMS) a patent term extension (PTE) for cancer drug Opdivo until 2031, providing certainty to industry around Australia’s intellectual property regime. Background BMS and Ono Pharmaceutical sought judicial review by the Federal Court of Australia after the Australian Patents […]

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COVID-19 | TGA updates guidance for advertising of COVID-19 vaccines to Australian public

In February 2021, we provided an update on the guidance issued by the Therapeutic Goods Administration (TGA) regarding the advertising of COVID-19 vaccines to the Australian public. That update is available here: COVID-19 | TGA issues guidance for advertising of COVID-19 vaccines to Australian public. Under the previous guidance, advertisers were restricted to republishing materials […]

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Noosa Shire Council enforcement notices for unlawful vegetation clearing held to be defective

In April 2019, Noosa Shire Council issued multiple enforcement notices to the joint owners of a large rural parcel alleging unlawful vegetation clearing being a development offence under the Planning Act 2016 (Qld) (PA). All of the recipients appealed against the enforcement notices to the Planning and Environment Court which in Serratore & Anor v […]

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