APRIL UPDATE
Global markets and Australia’s future
The recent implementation of tariffs by America is an attempt to protect its industries from foreign competition. While the primary aim is to boost domestic manufacturing and reduce trade deficits in America, the global nature of commodity markets means that these tariffs have significant ripple effects globally.
For Australia, which imports significant quantities of construction materials and relies heavily on global commodity prices, the knock-on effects of America’s tariffs will be significant and could include lower costs for construction materials. This conjecture is based on the fact that America is one of the largest consumers in the world, and its demand for imports is likely to be significantly reduced while tariffs are in place.
The above events are telling for Australia’s future. Australia derives 70% of its export income from agriculture and commodities and spends 36% of its total income on social security and welfare. In light of those statistics, the nation sits on the edge of a precipice, awaiting the US President’s decisions on the structure of the world economy.
What worries us as well is the near future and the creation of a new world order defined by China’s actions regarding Taiwan and America’s response.
In the interim, the bars and restaurants are still full in Sydney on any Wednesday night, the stock market hangs-on and our clients continue to enter contracts.
While we may be able to see a glimpse of the canary in the coal mine no one truly knows the future.
Vick Tan, Partner Construction
DOYLES GUIDE LEADING LAW FIRM
Vincent Young wins awards
Vincent Young has been announced as Leading Construction & Infrastructure Litigation Law Firm – Doyles Guide, New South Wales, 2025.
In addition to that, three of our partners – Brett Vincent, Mark Irwin and Vick Tan – have also been announced as Recommended Construction & Infrastructure Litigation Lawyers – in the Doyles Guide New South Wales, 2025. A definite team effort. Well done!
VY COCKTAIL PARTY
Good wine and conversation at Vincent Young
We recently hosted our annual Vincent Young cocktail party at our offices in Bond Street.
With over 100 guests it was an excellent opportunity to connect with clients, barristers and industry.
Thank you to everyone who came along. Here are some of the photos of the night for you to enjoy and share.
CONSTRUCTION
Multiple Defendants in Construction Disputes
Ensuring Responsibility is Fairly Apportioned
Why does apportioning liability matter?
Like the construction process itself, construction disputes often involve multiple parties, who have often caused or contributed to loss or damage.
In the context of construction litigation, particular challenges arise where loss or damage is alleged under the Home Building Act 1989 (NSW) (the HBA) or the Design and Building Practitioners Act 2020 (NSW) (the DBPA)
COMMERCIAL & INSOLVENCY
Detin who?
What to do when someone won’t give back your goods
You may have a claim in the tort of detinue if someone holds your goods and that person delays or refuses to give it back to you after you demand the return of your goods.
What is the tort of detinue?
The tort of dentine is the wrongful detention of property belonging to another person. Detinue is concerned with the possession at the expense of ownership. The tort applies only to ownership of personal property, not land or buildings.
PROPERTY
Clawback of lease incentives
Lease incentive clawback provisions are common but usually difficult to enforce. This has been the case in most circumstances until Tasmanian Ports Corporation Pty Ltd v Resources Australasia Pty Ltd [2024] TASSC 60 (Tas Ports).
Tas Ports is an unusual case with unique circumstances but worthy to note particularly when acting for tenants.
What is an incentive and how do clawback provisions work?
Incentives are commonly granted by landlords for the benefit of tenants to encourage tenants to sign or renew commercial leases. It is particularly important in a competitive leasing market.
MEET THE TEAM
Barbara Farhat – Senior Paralegal
Barbara Farhat is a senior paralegal at Vincent Young.
Currently in her final year at University of Technology Sydney, as a senior paralegal Barbara is an integral part of the Vincent Young team and we place great focus on nurturing the future leadership of our firm.
We sit down with Barbara to find out more about her experience and life at Vincent Young.