On 27 October 2022, the Senate referred an inquiry into the Australian Securities and Investments Commission (ASIC) to the Senate Economics References Committee for inquiry and report by the last sitting day in June 2024[1].The report has now been released...
To paraphrase a well-known quote: to litigate once may involve a compulsory disclosure process, to litigate twice may invoke the need to seek a release from the Harman undertaking. Where one party to litigation is compelled (usually by a court rule...
Unfair DismissalPart 3-2 of the Fair Work Act 2009 (Cth) (FW Act) allows national system employees to apply for an unfair dismissal remedy if they consider that the termination of their employment was “harsh, unjust or unreasonable”.Meaning of dismissalFor the purposes of making an...
Courts are commonly asked to consider applications for orders for the appointment of a "provisional" liquidator to a company's affairs.As a starting point, a provisional liquidator may be appointed after the commencement of winding up proceedings, but before those proceedings...
In February 2024, the Federal Court of Australia made orders:setting aside a deed of company arrangement entered by Project Sea Dragon Pty Ltd (PSD); and winding up PSD in insolvency,finding that the voluntary administration of PSD and a subsequent...
In a decision delivered last week, the Federal Court of Australia has rejected a bid by a major creditor for an inquiry into the conduct of the receivers and managers (Receivers) of Griffin Coal Mining Company Pty Ltd (Griffin).The relevant...
Earlier this year the ASX Corporate Governance Council released the draft 5th edition of the ASX Corporate Governance Principles and Recommendations which proposed various amendments to the 4th edition which was released in 2019. One of the more notable changes...
The recent 2024-2025 Australian Federal Budget (Budget) announced, amongst other key economic forecast updates, proposed changes to the Capital Gains Tax (CGT) regime for non-residents of Australia. Whilst the details surrounding the CGT regime changes are lacking, information released so...
On 2 May 2024, ASIC Chair Joe Longo delivered a speech at the Responsible Investment Association Australasia (RIAA) Conference, outlining ASIC’s growing commitment to curb ‘greenwashing’, that is, the practice of mispresenting the extent to which a financial product or...
The passing of the Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) reformed Australia’s laws on unfair contract terms (UCTs) to be more stringent on businesses entering into standard form consumer contracts or small business contracts. The motivation...