Rent incurred during the administration period has priority over other unsecured debts - recent decision of the Federal Court of Australia
In what was a welcome decision for landlords in the current climate, the Federal Court of Australia recently ruled that rent was an expense “properly incurred” by the Administrators and accordingly given priority over other unsecured debts by virtue of s.556(1) of the Corporations Act 2001 (Cth) (Act).
The Supreme Court of Victoria has outlined the law relating to building and construction payment claims under the Building and Construction Industry Security of Payment Act 2002 (Vic) in its judgment in the case, John Beever (Aust) Pty Limited v Paper Australia Pty Ltd  VSC 126.
Australian consumer law protects consumers from being misled or deceived about the goods and services they buy. It is important that businesses are aware of these laws and that they ensure the messages they communicate to customers about their products and services through advertising are accurate and honest.
The Personal Properties Securities Register (PPSR) is an online national register where individuals and businesses can register security interests over personal property. However, care must be taken to ensure an effective PPSR registration.
New changes to the Corporations Act 2001 (Cth) prevent the enforcement of ipso facto termination clauses
From 1 July 2018, new provisions in the Corporations Act 2001 (Cth) prevent a party from enforcing termination clauses such as ‘ipso facto’ clauses.
The legal environment for businesses is always changing so it is important to keep to up-to-date with any relevant changes that may affect your business, employees and customers.
The commencement of the Building Industry Fairness (Security of Payment) 2017 (Qld) will see a massive overhaul of the Queensland building and construction industry with significant changes to the security of payment regime in particular.
The start of a new year is an opportune time for businesses to review important business matters to identify potential risks and opportunities for growth that will ensure the success of the business in the year ahead.
The Australian Competition and Consumer Commission has provided protection for small businesses from unfair contract terms in business-to-business standard form contracts. Find out what types of clauses have been affected by the changes and are likely to raise concerns under the unfair contract terms law.
Understanding which unregistered interest has priority under a credit agreement in the event of default or liquidation
When supplying goods or services to a customer on credit, it is important for businesses to be aware of the circumstances in which competing unregistered interests may have priority should a customer’s assets be unable to cover all debts to all creditors in the event of liquidation.