The Foreign Acquisitions and Takeovers Fees Imposition Amendment Bill 2024 (Fees Imposition Bill) and Treasury Laws Amendment (Foreign Investment) Bill 2024 (Foreign Investment Bill) have recently been introduced by the Federal Government to again change the foreign investment legislation. These Bills will have a substantial impact on foreign buyers acquiring Australian…
21 March, 2024
Has the right of carriageway been abandoned?
Castle v Achdjian NSWSC 1340 In the case of Castle v Achdjian NSWSC 1340, the Supreme Court of NSW had to decide whether a right of carriageway was abandoned and could be obstructed by the owners of the burdened land. This case demonstrates the continuing complexities and evidentiary requirements that…
15 March, 2024
Taking Security from Related Entities of a Borrower – Unreasonable Director-Related Transactions
Case note - Cooper as Liquidator of Runtong Investment and Development Pty Ltd (In Liq) v CEG Direct Securities Pty Ltd FCA 6 The recent case of Cooper as Liquidator of Runtong Investment and Development Pty Ltd (In Liq) v CEG Direct Securities Pty Ltd FCA 6 (Cooper), shed light…
28 February, 2024
Consequential Loss: The Approach In NSW
Dangers of drafting liability clauses Hadley & Anor v Baxendale & Ors EWHC J70 (Hadley v Baxendale) was a landmark decision in English law defining the classification of different types of loss. However, both the UK courts and academia and the Australian courts and academia have been pursuing modified and…
8 February, 2024
Enforceability Of Positive Covenants
Aust-One Investment Pty Ltd V New World Investments Pty Ltd NSWCA 22 Covenants that are registered on title and that ‘run with the land’ are restrictive in nature, a principle which is confirmed at common law and by statute. The general rule at common law is that the burden of…
18 December, 2023
Case note on Young v Chief Executive Officer (Housing) [2023] HCTA 31 – an interesting case
Why is this case important? Young v Chief Executive Officer (Housing) HCTA 31 was heard in the High Court of Australia earlier this year. It is important because: The High Court ruled that a tenant's distress and disappointment due to a prolonged absence of a backdoor was compensable under statute.…
14 December, 2023
Ribbon Project by Greaton at Darling Harbour
Congratulations to Greaton on completion of the Ribbon project at Darling Harbour, comprising the largest W Hotel in the world, including the new redeveloped IMAX theatre experience and retail. Vincent Young lawyers is excited to have had the opportunity to have worked alongside the dedicated Greaton team on this very…
9 October, 2023
Forfeiture of lease and relief for sublessees
A summary of Synergy Scaffolding Holdings Pty Ltd v Goodman Funds Management Australia Limited as trustee for GAI1 RPF Subtrust of the Hayesbery NSWSC 538 In this Supreme Court of New South Wales decision, the Summons filed by the Plaintiffs, the sublessees, in respect of relief sought against forfeiture of…
6 October, 2023
Increase in Property Related Duties – A further revenue hit
The release of the 2023-24 budget by NSW Treasurer Daniel Mookhey on September 19, 2023, marked a significant turning point in the fiscal landscape of the state projected to yield a substantial increase in revenue, estimated at nearly $1 billion over the next four years. In this article we focus…
22 September, 2023
Overview On Incentive Clawbacks
The effectiveness of incentive clawback provisions, whilst common in commercial leasing transactions, continues to be uncertain. Perhaps it is time to consider alternatives. See details below. Some recent cases In brief summary: Courts are open to interpreting an incentive clawback clause as potentially not being a penalty where it gives…