Commercial Archives - Page 3 of 5

Commercial Insolvency

15 August, 2023

Unfair Preference Claims – High Court confirms Peak Indebtedness Rule no longer applies

As more companies circle the drain in an increasingly uncertain economic environment, it is timely to review recent developments in unfair preference claims brought by liquidators against creditors. In the recent decision of Bryant & Ors v Badenoch Integrated Logging Pty Ltd HCA 2 (Gunns), the High Court confirmed the…

Vincent Young

Commercial Construction

21 July, 2023

Implied Terms In Construction Contracts

When nothing is something Construction contracts in Australia consist of both express and implied terms. Express terms are clearly stated and agreed upon by the parties involved. Implied terms, on the other hand, are "unspoken" but still considered part of a construction contract. This article will consider the concept of…

Vincent Young

Commercial Construction

22 May, 2023

Standstill Agreements Pending Negotiations

Price v Spoor HCA 20 (Price v Spoor) Contractors with defects claims against subcontractors often commence litigation prematurely to preserve their claims from being time-barred. This occurs despite the costly nature of litigation and its potential to undermine settlement negotiations. The High Court case of Price v Spoor has confirmed…

Victoria Caldwell

Commercial

27 April, 2023

Assessment of Damages: Maximise Recovery, Minimise Liability

Case note - Renown Corporation Pty Ltd v SEMF Pty Ltd NSWCA 233 If a product supplied or installed falls short of what was contractually promised, the aggrieved party is generally entitled to claim damages. The recent New South Wales Court of Appeal decision in Renown Corporation Pty Ltd v…

Victoria Caldwell

Commercial Insolvency

4 April, 2023

Voluntary Winding Up or Deregistration?

Once a company has stopped trading, directors can wind up its affairs through either a members’ voluntary winding up or a deregistration. This article explains each process as well as their benefits and drawbacks. Members' voluntary winding up Overview of the process Voluntary winding ups commence when the shareholders of…

Victoria Caldwell

Commercial Construction

17 February, 2023

Unfair Contract Terms Will Affect Building Contracts

Back in November 2022, the Commonwealth Government passed the Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) to broaden the scope of existing unfair contract terms (UCT) regime. The new UCT regime expands coverage to small businesses from having fewer than 20 employees to up to 100…

Victoria Caldwell

Commercial Construction

8 February, 2023

Do Costs Always Follow The Event?

Introduction Costs in litigation can be as complicated as the substantive dispute. There are various types of costs orders that the Court may make and the legal principles behind each costs order. These are each well worth a detailed discussion in their own right. The general rule as to…

Victoria Caldwell

Commercial Insolvency

2 December, 2022

Director Penalty Regime

Any moratoria in place since COVID-19 is now at an end. The Australian Tax Office (ATO) has reverted back to recovering outstanding tax liabilities. If you are a director of a company, it is important that you are aware that the ATO can, in particular circumstances, recover unpaid company tax…

Victoria Caldwell

Commercial

17 November, 2022

Penalties in Loan Contracts

Introduction In the current inflationary market, lenders are changing the terms on which they are willing to lend money to both individuals and businesses. For most borrowers, the key variable is interest rates. Can an interest rate under a loan ever be so high that a court will refuse to…

Victoria Caldwell

Commercial

9 September, 2022

Requirements for inter-state service of proceedings – they matter!

Most lawyers know that there are special rules governing service of proceedings outside of Australia, but there are also statutory provisions governing inter-State service of proceedings. These rules stem from our constitution and federal system of government. It is important to follow the requirements of these statutory provisions closely to…

Victoria Caldwell

Commercial

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