Insights

Key points for boards and activist shareholders from Perpetual’s loss to Brickworks and Soul Patts

The Federal Court has released its judgment in favour of Brickworks Limited and Washington H. Soul Pattinson and Company Limited, in its proceedings with Perpetual.1

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Set-off rights miss the mark!

A recent court decision is a timely reminder of the limitations that can affect a person’s ability to rely on set-off rights when a debtor or contract counterparty becomes insolvent.

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ACCC’s electrical cartel zapped out by the Federal Court

"On 9 March 2017, the Federal Court of Australia dismissed allegations brought by the Australian Competition and Consumer Commission (ACCC) against Australia’s largest cable manufacturers, Olex...

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Vertical Agreements and Dominant Firms 2017 Australia

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Draft regulations and guideline for the Australian Domestic Gas Security Mechanism

On 27 April 2017, the Commonwealth Government announced that it would implement the Australian Domestic Gas Security Mechanism (ADGSM) to ensure there is a sufficient supply of natural gas to meet...

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Final destination: High Court decides market ‘in Australia’ for the Air Cargo Cartel

The High Court’s decision is the final (Australian) chapter in the long running Air Cargo Cartel matter. Between 2008 and 2010, the Australian Competition and Consumer Commission (ACCC) issued...

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Acumen June 2017

noun – quickness of perception; keen insight. A range of legal issues from April to June 2017 relevant to corporate counsel and senior executives, written by our senior practitioners.

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Third party claims against insurers in NSW – farewell to the statutory charge

A new law will permit liquidators to more confidently make decisions about whether or not to pursue insurers directly without the worry of speculating as to whether there are other competing claims...

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Merger with benefits: Lessons from the Tabcorp/Tatts case

The Australian Competition Tribunal has given competition approval for the $11bn merger of Tabcorp and Tatts. Although the Tribunal was the first instance decision maker in this case, under...

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Redundancy – NES relied on to interpret employment contracts

As highlighted by a recent Full Bench decision of the WA AIRC (Spotless Group v Dennis Buckle [2017] WAIRC 00024), tribunals are prepared to refer to the National Employment Standards to resolve...

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Procedural fundamentals: extension of convening period for second creditors’ meetings

The factors which an administrator can cite in support of any extension application will necessarily depend upon the unique factual circumstances involved.

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Australian Energy Regulator v Australian Competition Tribunal (Ausgrid decisions)

A decision by the Full Federal Court supports the Australian Competition Tribunal’s February 2016 findings: that there may be a different benchmark efficient entity for each service provider, and...

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To adjourn, or not to adjourn: applications by administrators to adjourn winding up applications

It is not uncommon for administrators to be appointed in the period between a company being served with a creditor’s winding up application and the date on which that application is to be heard...

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Changes to penalty rates and minimum wage rates in modern awards

Two recent decisions of FWC mean that employers, particularly in the retail and hospitality industries, should confirm their minimum rate obligations to employees.

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To Have and to Hold

The recent decision of the Supreme Court of Western Australia in Mighty River International Ltd v Hughes & Bredenkamp [2017] WASC 69 (Mighty River v Hughes) has confirmed the legality and the...

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The perils of disregarding due process

Receivers may breach their duty of care if they sell property over which they are appointed without first conducting a marketing campaign or running a public auction.

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Approvals for CSG water treatment facilities in NSW

On 14 March 2017, the Court of Appeal of the Supreme Court of NSW gave its decision in People for the Plains Incorporated v Santos NSW (Eastern) Pty Ltd [2017] NSWCA 46 (Case). The Case considered...

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Acumen June 2017

noun – quickness of perception; keen insight. A range of legal issues relevant to corporate counsel and senior executives, written by our senior practitioners.

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Likely new corporate offence of failing to prevent foreign bribery

All companies, however large or small, will need to comply with these proposed laws when (rather than if) they are enacted.

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Foreign Bribery Update 2016: May

Important developments in Australia and overseas in foreign bribery policy, investigations and regulation to 20 May 2016, including international the role of intermediaries in Unaoil and the Panama...

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Can the knowledge of several employees be aggregated and attributed to the company?

In certain circumstances, knowledge of fraud by employees may be aggregated to determine culpability of a company where there is a duty and opportunity to communicate it to the other.

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PPS leases get another makeover

Insolvency practitioners will need to consider whether a lease is entered into before or after the commencement of the Amending Act, as this will determine which set of rules apply.

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In the matter of Boart Longyear Limited

"Justice Black in In the matter of Boart Longyear Limited [2017] NSWSC 537 has confirmed that section 411(16) of the Corporations Act 2011 (Cth) (the Act), can be used to provide companies...

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Transparency on the beneficial ownership of companies

In February 2017, the Australian Government released a consultation paper titled ‘Increasing Transparency of the Beneficial Ownership of Companies’ (Consultation Paper) to explore the potential to...

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