Commercial

The Corporations Amendment (Meetings and Documents) Bill 2021 (Cth) (Amendment Act) was given royal assent on 22 February 2022 and has now come into force. The Amendment Act has amended the Corporations Act 2001 (Cth) (Corporations Act) and builds on the temporary measures introduced last year by the Treasury Laws…

What you need to know The construction industry is currently experiencing a high number of insolvencies. Various moratoria arise on a builder entering into external administration which can impact upon the rights that can be exercised by developers, sub-contractors and suppliers. Amongst other restrictions, this includes prohibitions on counterparties taking…

What you need to know? Trustees are commonly used to enter into construction contracts as a risk mitigation tool. When contracting as a trustee one needs to be careful to ensure that the appropriate trustee limitation of liability provisions are included in the construction contract. When contracting with a trustee…

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?…

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…

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…

With the current lockdown forcing many offices to close, we have seen an increase in the number of queries from clients regarding the remote execution of documents. This article provides a “how to” guide for valid electronic execution of documents if you are signing a document on behalf of a…

Background The most common method by which a company may execute a document is that prescribed by s127 of the Corporations Act 2001 (Cth) (Corporations Act). By doing so, parties dealing with the company can be protected by relying on the assumptions listed in s129 of the Corporations Act when…