News & Blog

Stay up-to-date with interesting perspectives from the team at McCabes.

Keeping it in the family: standing of a trustee in bankruptcy to set aside a financial agreement

Published by Andrew Lacey - Managing Principal
Dec 12, 2017 in Insolvency
1. Section 90K(1)(aa) of the Family Law Act 1975 (Cth) provides that a court may set aside a financial agreement if the court is satisfied that a party to the agreement entered into the agreement for purposes including the purpose of defrauding or defeating creditors, or with reckless disregard to the interests of the creditors…. View Article
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Restraints: Business sale agreements vs. employment contracts

Published by Jacqueline Winters - Associate
Dec 10, 2017 in Commercial
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, restraints need to be considered and drafted appropriately for the circumstances for which they are being… View Article
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Unfair Contracts – JJ Richards contract terms declared unfair

Published by Jimmy Gill - Principal
In its first decision under the new unfair contracts regime that extends to standard form small business contracts, the Federal Court has found several terms to be unfair, and therefore, void. In October we published an article on our website about pending court proceedings in which the Australian Competition and Consumer Commission (ACCC) was pursuing… View Article
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When will a liquidator face personal liability for costs?

Published by Andrew Lacey - Managing Principal
Dec 4, 2017 in Insolvency
In certain circumstances, liquidators may be at risk of personal exposure to costs orders in litigation. The court’s approach to the making of costs orders against liquidators depends on (amongst other things) whether the liquidator is a named party to the proceedings, whether the liquidator is commencing or defending proceedings, and whether the liquidator has… View Article
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Major Overhaul in Bankruptcy Legislation

Published by Andrew Lacey - Managing Principal
Dec 4, 2017 in Insolvency
On 19 October 2017, the Bankruptcy Amendment (Enterprise Incentives) Bill 2017 was introduced into Parliament by the Commonwealth Government in order to reduce the default period of bankruptcy from three years down to just one year. The stated objective of the Bill is “to foster entrepreneurial behaviour and reduce the stigma associated with bankruptcy whilst… View Article
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The Fair Work Ombudsman is taking aim! Are you on their watch list?

Published by Erin Kidd - Senior Associate
Dec 4, 2017 in Employment
Employers, particularly franchisors and holding companies, should remain vigilant – the Fair Work Ombudsman is ready to strike. And when it does, the recent changes to the Fair Work Act aimed at protecting vulnerable workers and holding franchisors to account may see penalties higher than ever before, with maximum penalties increasing to $126,000 per contravention… View Article
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Internet rendezvous turns ugly – Thorne v Kennedy [2017] HCA 49

Published by Chiara Rawlins - Principal - Litigation Division Leader
The High Court decision of Thorne v Kennedy [2017] HCA 49, handed down on 8 November 2017, is another reminder of the Court’s power to strike down contracts where one party has been subjected to duress, undue influence or unconscionable conduct at the time of entering into the contract. Background The parties met over the… View Article
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Capital raising: Foreign approaches to Australian institutional investors

Published by Tom Morgan - Senior Associate
Dec 3, 2017 in Corporate
Australia’s institutional investment management industry, which according to the RBA has approximately A$2.8 trillion under management, is the largest in the Asian region. According to reports, Australia also has the ninth largest high-net-worth investment market, worth approximately US$735 billion. This represents an extremely attractive market for companies that are seeking to raise additional capital. While… View Article
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