A common question that arises in client dealings with the ATO, and one which has particular relevance in the increasingly proactive ATO recovery environment facing companies and their directors, is: "How does the ATO allocate money it receives?"Practice Statement "PS...
Earlier this month the Joint Ore Reserves Committee (JORC) released a public consultation draft of the new version of its eponymous Code, intended to be introduced in 2025 to replace the current 2012 Edition.The JORC Code regulates reporting of key...
On Tuesday 30 July 2024 Regional Express Holdings Limited (Administrators Appointed) (ACN 099 547 270) and a number of its subsidiaries (ASX: REX) (the Rex Group) entered voluntary administration.Meanwhile, the operations of Pel-Air Aviation Pty Ltd (and associated entities) together...
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...