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One issue that often comes up in a dispute concerning a loan agreement is whether certain fees, such as termination fees, or establishment fees, have to be paid at settlement. Depending on the circumstances, such a fee may be a penalty, and therefor...
Statutory duties will often include a set limitation period stating how long a party has to bring a claim for breach, often six years. However, equitable claims, such as a breach of fiduciary duties, do not have express limitation periods. Because o...
An accounting firm has failed to convince the Full Federal Court to overturn a finding that it was “involved in” its client’s breaches of workplace laws and was therefore itself taken to have contravened the relevant sections of the Fair Work Act...
The Fair Work Commission has introduced unpaid domestic violence leave into all industry and occupational awards, effective 1 August 2018. Subject to meeting evidentiary requirements, award-covered employees are now entitled to family and domestic v...
It is well known that directors of a company owe fiduciary duties to the company in addition to the statutory duties imposed by the Corporations Act 2001 (Cth). ‘Fiduciary duties’ are often loosely referred to as duties of loyalty a...
The high income threshold has increased to $145,400, effective from 1 July 2018. The Fair Work Commission has released its annual increase to the high income threshold. This threshold affects how modern awards apply to employees and, importa...
As of 1 July 2018, purchasers are required to withhold the GST component of certain property transactions and remit the amount to the Commissioner of Taxation on or before settlement. The amendments were implemented to prevent ‘phoenixing’, whereby p...
It is common to have ‘ipso facto’ clauses included in commercial contracts, so that a contracting party becomes automatically entitled to enforce its rights against the counterparty upon the occurrence of one or more events specified in the contract....
Ordinarily, a company entering liquidation is considered the commercial equivalent of “game over”, “checkmate”, “the end”, “K.O” or whatever other synonyms creditors can conjure up. This would be true for the most part because, at the end of the liqu...