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Out at sea looking for a safe harbour: directors’ duties in the face of COVID-19

With the rampant spread of COVID-19 worldwide, there are increasing concerns as to the financial impact of the outbreak. With forced business closures a potential reality, it seems inevitable that the Australian economy is on its way to a recession. ...

Published by Chiara Rawlins
18 March, 2020
Commercial

Why lawyers sweat the small stuff: 5 million reasons to include that comma

When it comes to writing an email, a formal letter to a colleague, or even a text message to a friend, the ramifications are generally insignificant. However, in the context of legal drafting, mistakes, however small, can have significant financial c...

Published by McCabes News
28 March, 2018
Commercial

Restraints: Business sale agreements vs. employment contracts

Restraint clauses are not ‘one size fits all’. Typically, courts look less favourably on restraints imposed on an employee than restraints imposed on a vendor to protect the goodwill of a business in a sale. So to be enforceable, restrain...

Published by McCabes News
10 December, 2017
Commercial

Are you a start-up? Do you know what your duties as a director are?

Start-ups are on the rise, as is the number of young entrepreneurs taking on the role of company director. A company director, whether sitting on the board of an ASX-listed company or a small organisation, has to be clear on the duties and obligation...

Published by McCabes News
20 June, 2017
Commercial

One size does not fit all: varying the scope of the Part 5.3A moratorium on proceedings against companies in voluntary administration

Excerpt: Part 5.3A of the Corporations Act 2001 (Cth) (the Act), titled ‘Administration of a company’s affairs with a view to executing a deed of company arrangement’, codifies an extensive regime of rules and protocols which govern...

Published by Andrew Lacey
18 October, 2016
Commercial

Brexit implications Down Under

Despite being 15,195 kilometres apart, Britain’s decision to leave Europe has been described by some as a ‘king hit’ to Australia. Whilst Australia is unlikely to suffer any permanent scars from this blow, Australia will be forced t...

Published by McCabes News
22 August, 2016
Commercial

For better or for worse – be careful what you promise

A recent NSW Court of Appeal decision brings new meaning to the term ‘buyer beware’ and is a warning to carefully monitor statements that a target makes to its employees during a merger. Following a claim by two employees, the Royal Bank ...

Published by McCabes News
6 June, 2016
Corporate

$3 Million Redundancy Policy Incorporated in CEO’s Contract

A former CEO of ABN AMRO Australia Holdings Limited (AAAH) has been awarded over $3 million after the NSW Supreme Court in James v Royal Bank of Scotland [2015] NSWSC 243 found an employment contract clause which bound the C...

Published by McCabes News
23 April, 2015
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