Hutchinson Builders v ACCC: Full Court finds termination of subcontract did not contravene “boycotting” laws; clears Hutchies of wrongdoing
Hutchinson Builders (Hutchies) is Australia’s largest privately owned construction company. Throughout its 110+ year history it has delivered countless significant projects across Australia. One such project, which was the subject of the Full Court’s decision in J Hutchinson Pty Ltd v ACCC, was a construction project located in South Brisbane known as the “Southpoint Project”. […]
ReadmoreNew South Wales Supreme Court rejects bid to advance small business restructuring
In a proceeding brought by Mr Curran, in his capacity as the trustee for June Ellen Investment Trust (Plaintiff), to wind up Fitzgerald Housing Limited (formerly known as Kay Fitzgerald Housing Charity Limited) (Defendant), the New South Wales Supreme Court considered whether it was necessary to adjourn the winding up proceeding to allow the Defendant […]
ReadmoreASX Wolf in sheep’s clothing: Federal Court grants injunctive relief for ASIC over unlicensed financial advice
In late 2022, ASIC filed an application with the Federal Court, claiming that the Defendant, Mr Scholz, was conducting a financial services business by offering direct and indirect tips regarding the purchasing of shares in particular companies through Instagram stories, online seminars and Discord channels. The court decided that this activity constituted financial product advice, […]
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 […]
ReadmoreBlock trading breach! ASIC’s Markets Disciplinary Panel hands down $222,000 penalty to ABN AMRO
On 7 September 2022, ASIC announced that its Markets Disciplinary Panel (MDP) had issued an Infringement Notice having determined that it had reasonable grounds to believe that ABN AMRO Clearing Sydney Pty Ltd (ABN AMRO) contravened subsection 798H(1) of the Corporations Act by failing to comply with Rule 3.4.2(1) of the ASIC Market Integrity Rules […]
ReadmoreMortgagee in possession sale causes Manda-monium – a tale of section 420A obligations in the COVID-19 era
In the first reported final decision that has considered the effect of COVID-19 lockdowns on the property market in the context of a mortgagee discharging its duties under section 420A of the Corporations Act 2001 (Cth) (Act), the Victorian Supreme Court in Manda Capital Holdings Pty Ltd (Manda) v PEC Portfolio Springvale Pty Ltd (PEC) […]
ReadmoreFederal Court takes aim at expert’s ‘independent’ evidence: When lawyers can taint an expert’s report
The case of New Aim Pty Ltd v Leung [2022] FCA 722 concerned a dispute between an e-commerce company and its former employees regarding the use of confidential information acquired during the course of employment. A significant issue in the case, which is the focus of this article, was whether the Court should reject an […]
ReadmoreFailure to launch: Liquidators fail to establish abuse of process in public examination summonses
Public examination can be a useful tool for parties in a liquidation to obtain information about matters relating to a company’s affairs. In the matter of Jewel of India Holdings Pty Ltd ACN 141 963 813 (in liquidation) [2022] NSWSC 356, the Court considered whether summonses for public examination, that were issued by the former […]
ReadmoreService by crypto – a new use case for NFTs!
In Australia, service of legal documents needs to be effected through the Courts’ relevant civil procedure rules. Often this is personally (in the case of individuals) or at a company’s registered office (under 109X of the Corporations Act 2001 (Cth)). By order of the Court, however, service can be effected by other means – for […]
ReadmoreFederal Court cracks down on legal privilege claims – An operational hazard for the multi-disciplinary firms?
A multi-disciplinary firm has used legal privilege to shield documents from the ATO during an audit of its multinational clients, a judge has found, in a ruling that has put multi-disciplinary firms on notice. In Commissioner of Taxation v PricewaterhouseCoopers [2022] FCA 278 Federal Court Justice Moshinsky ruled that a legitimate relationship between lawyer and […]
ReadmoreThe importance of being cautiously aware of contractual terms relating to insolvency termination events
In the matter of Carna Group Pty Ltd v The Griffin Coal Mining Company (No 6) [2021] FCA 1214, the Court held that Griffin Coal Mining Company (Griffin) was insolvent, without having to prove so under the section 95A Corporations Act 2001 (Cth) (Corporations Act). This was in accordance with a contractual provision where it […]
ReadmoreEquitable Assignment: The question is how the parties viewed the transaction not how the transaction was recorded
Business Finance Pty Ltd (receiver and manager appointed) v Partner Invest Pty Ltd (in liquidation) [2022] NSWSC 1 was a dispute between the external administrators of the plaintiff and defendant companies. Marcus Ayres was the appointed receiver and manager of Business Finance Pty Ltd (Business Finance) and Andrew Sallway was the liquidator of Partner Invest […]
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