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Home confinement directive

THIS IS HUGE: It is likely now unlawful to go to work in QLD for an essential business, activity or undertaking, if your work could reasonably be performed from your principal place of residence. This new law came into effect at midnight last night (without much in the way of an announcement), and has some…

Commercial rent moratorium part 1

BREAKING: 6 month moratorium on evictions for tenants from residential and commercial leases “on a financial distress basis”. No set in stone principals to help landlords or financiers, but these are set to be released some day this week. The government wants all three sides of the equation (banks, landlords and tenants) to sit down…

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’).…