Earlier in January 2021, the Foreign Investment Review Board (FIRB) introduced a new national security test. Many investments and acquisitions which were previously not ‘notifiable actions’ or ‘significant actions’ under the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) are now subject to compulsory or voluntary notifications. Under the new…
29 October, 2021
Have you got a contract or are you still negotiating?
Imagine this. You’ve spent months negotiating a deal. Today, you and your counterparty agreed the last of the important terms. Your lawyers still need to finalise the written document but you and your counterparty shook hands on the deal at the end of a meeting. Have you got a contract?…
26 October, 2021
Privity of Contract: The role of statutory warranties for third parties to construction agreements
Increasingly, we are reviewing contracts whereby developers seek to provide benefits to third parties by increasing who the contractor owes its obligations to under a contract. For example, a developer may amend all the indemnities in a contract to benefit “Indemnified Parties”. These “Indemnified Parties” are ordinarily third parties which…
20 October, 2021
Webinar: Dealing with absent employees in the workplace
In this recent webinar, Erin Lynch, Employment Partner, discussed how to manage absent employees, best practice in dealing with unfit employees and potential legal risks. Erin addressed the following topics: Absent employees; Employees unfit for work; Making reasonable accommodations and adjustments; Independent medical examination; Termination of employment; Legal risks; and…
13 October, 2021
Contracting Out of Statutory Limitation Periods
Recently the High Court of Australia (Court) held that parties may validly contract out of statutory limitation periods. This decision will likely have broad application and impact on clauses in contracts moving forward. Care should still be taken when drafting contractual clauses that seek to exclude statutory limitation periods as…
5 October, 2021
The Melbourne Earthquake: How it should have been dealt with in an Australian Standard construction contract
On 22 September 2021, a magnitude 5.9 earthquake struck Victoria. Undoubtedly, this led many construction managers in Melbourne to review their contracts to assess who bears the risk for any damage caused. Ordinarily, Contractors carry the risk for all loss or damage which occurs during the works whilst they are…
1 October, 2021
Promissory estoppel
Commercial parties tend to operate in fluid and fast paced environments. Frequently formal contracts are entered into or amended late or possibly not at all. Time constrains, cost constraints or simply oversight are often to blame. Failing to record deals in contracts puts commercial parties at risk. One party may…