A decision of the Victorian Supreme Court[1] handed down on 9 August 2021 has highlighted the rights of off-the-plan purchasers to rescind contracts pursuant to s 9AC(2) of the Sale of Land Act 1962 (Act) when changes are made to the proposed plan of subdivision after the contract is signed and [...]
In our Commercial Update of 14 August last year (Sale or purchase of financial planning practices) we commented on the significant volatility and turmoil which the financial planning industry had experienced in the preceding several years. That included, amongst other things, the Royal Commission and the filing of a class [...]
It’s surprisingly common for home owners to engage builders to undertake domestic building works without that arrangement being supported by a written building contract. Sometimes the only documentary support is a written quotation, which may not be compliant. Home owners may be tempted to agree to go ahead in such [...]
A string of recent, high profile defamation decisions, for example those involving actors Rebel Wilson and Geoffrey Rush, have shown that Courts are prepared to award significant damages to successful complainants. But it is important to remember that defamation disputes are not exclusively between celebrities and the print and television [...]
If you pay a debt to the wrong account because of a fraud you could well be required to pay twice. In the past three years losses due to business email compromise have risen from $3.8 million[1] to $132 million[2]. Typically such frauds take the form of a “man in the [...]
The last couple of years has been a tumultuous period for the financial planning industry. We have seen the Hayne Royal Commission into Misconduct Superannuation and Financial Services industry and the handing downs of its findings. We have also seen AMP change the terms of its Buyer of Last Resort (BOLR) [...]
In an application before the Federal Court, investors in a failed group of companies have recovered their lost money from the group’s former directors directly. The Court held that the directors’ misleading and deceptive conduct induced the investments and awarded damages in respect of the misrepresentations made. Background The two personal [...]
In the wake of a recent decision by the Supreme Court of Victoria, employers are reminded that their clients are not automatically off-limits to ex-employees. Where clients transfer their business to former staff, employers must act quickly and decisively to enforce any applicable post-employment covenants and be prepared to obtain [...]
Administrators often find themselves in a position where they need or desire further time to convene a second creditors’ meeting. The recent Federal Court case of Farnsworth v About Life Pty Limited (Administrator Appointed), in the matter of About Life Pty Limited (Administrator Appointed) [2019] FCA 11, provides a useful [...]
Employees owe certain duties to their employer known as fiduciary duties. These are, put broadly, the duty of loyalty and the duty not to profit. One who knowingly assists another to breach their fiduciary duties may also be held to account for gains made as a result. A recent example [...]
