Browse by:

Mortgages vs Leases – time for a moratorium?

The National Cabinet is meeting tonight to finalise plans on how to deal with leases and tenancies due to the economic turmoil. A careful balance must be struck between tenants, landlords and their creditors (like banks, body corporates, land taxes, rates, utilities, etc). A moratorium on commercial leases and any attaching personal guarantee is strongly…

$20k court wind-ups and 6 months to respond

Mix of my LinkedIn Articles from Sunday 22/3/2020 and Monday 23/3/2020 … BREAKING 22/3/2020: The government has just announced (in its stimulus package) an increase to the threshold at which a creditor can take action to initiate insolvency from $2,000 to $20,000 and giving companies six months instead of 21 days to respond. It probably…

Credit limit increase + fiduciary duties

INTERESTING CASE: Does a business development manager employee owe a fiduciary duty to his employer when he gives a customer a very large credit limit increase (without authorisation)? Not on these facts, according to the Queensland Court of Appeal. Case is: Metal Manufactures Limited v Johnston & Anor [2020] QCA 42 Very fact heavy, but bear…

Officer by conduct, not by name

BREAKING: the High Court has just held that a person who is found on the evidence to be “the overall boss” or have “overall responsibility” of the business of a company, IS AN OFFICER of the company for the purposes of the para (b)(ii) definition in s 9 of the Corporations Act 2001 (‘the Act’).…