A recent Queensland Court of Appeal decision shows the continuing utility of disclaimers on products despite legislative reforms narrowing the scope of their effectiveness. In Mallonland Pty Ltd & Anor v Advanta Seeds Pty Ltd[1] a class action was brought on behalf of commercial farmers against the manufacturer of sorghum seed. [...]
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 [...]
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) [...]
From a legal perspective, the COVID-19 virus has raised substantial questions in relation to a range of issues across multiple sectors of industry. Some of those issues relate to insurance and the impact on contractual obligations under leases, building contracts, property transactions and supply contracts, cyber-security, employer-employee relations, the privacy [...]
We are very aware that the changes to the BOLR Policy announced by AMP on 8 August 2019 have created considerable uncertainty for AMP financial planners. Those changes consist of reducing the 4x multiple of recurring revenue to 2.5x and also reducing and ultimately phasing out the multiple applicable to [...]
The Government says the amendments apply only to contracts entered into after commencement. But what does the Bill say? The proposed Ipso Facto amendments[1] impose a stay on the enforcement of contractual rights arising by reason of: (a) an application or entry into a compromise or arrangement under Part 5.1; [...]
Did you know that Pointon Partners offers mediation as a cost effective dispute resolution service to enable your clients to get back to business? Mediation can be organised at any time – you don’t need to be involved in Court proceedings, you just need to agree with the other party [...]
Directors penalties, estimates and statutory demands Indications are that the compliance program for unremitted PAYG withholding and unpaid superannuation contributions by employers will be stepped up in 2013 as the 2012 amendments are ‘bedded down’. As a result of those amendments and internal administration reforms the time taken by the [...]
