Under section 420A(1)(a) of the Corporations Act 2001 (Cth), when selling property of a corporation that has a market value, a controller must take all reasonable care to sell the ...
Under section 420A(1)(a) of the Corporations Act 2001 (Cth), when selling property of a corporation that has a market value, a controller must take all reasonable care to sell the property for not less than its market value. In the recent case of Boz One Pty Ltd v McLellan [2015]
The Full Court of the Federal Court has delivered another twist in one of Australia’s largest class actions, overturning the decision of the primary judge that some of ANZ’s bank fees were void for being penalties.
The Corporations Act 2001 (Cth) imposes a liability on financial advisers who engage in misleading and deceptive conduct to compensate a person who suffers loss by that conduct.
Where a mortgagor company is deregistered, a mortgagee exercising power of sale still owes a duty of care to the deregistered mortgagor.
The Banking Code of Practice has contractual force. Where applicable, a bank must comply with the Code. Failure to comply can expose the bank to a claim for damages.
In Devren Pty Ltd v Old Coach Developments Pty Ltd and Ors [2015] QSC 53, funds payable to a company were paid to other entities in accordance with the direction of Mr Clair, the purported managing director of the company.
In Allco Funds Management Limited v Trust Co (Re Services) Ltd [2014] NSWSC 1251, an inter-company loan transaction was challenged by a receiver appointed by the secured creditor to one of the companies.
When a loan is secured by guarantees given by more than one person, disputes can often arise between co-guarantors as to who should bear the burden of paying out the loan, and in what proportions.
Debts claimed in statutory demands must be due and payable to the creditor named in the statutory demand.
In a recent Western Australian case, Australian Regional Wholesalers Pty Ltd v Gardiner [2014] WASC 439, a supplier was owed a significant amount by its customer. To deal with this, the supplier took a very common approach and stopped supply.
In the recent case of Commonwealth Bank of Australia v Doggett the Supreme Court of Victoria held that certain provisions of the Code of Banking Practice (Code) applied to the guarantors. The Code applies to individuals and to small businesses as defined in the Code.
When a debtor owes money to a creditor, it is not uncommon for the debtor to propose that the creditor be paid from the proceeds of a sale or other transaction where the debtor is to receive a payment.
Cooper Grace Ward acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.
Fast, accurate and flexible entities including companies, self-managed superannuation funds and trusts.