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. ...
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.
Business negotiations sometimes end with the parties signing a Memorandum of Understanding (MOU) – contemplating further negotiations, with the intent that the MOU will be followed by a ‘formal agreement’ down the track.
Cooper Grace Ward partner Graham Roberts has been recommended in Doyle’s Guide in its 2015 list of leading Queensland insolvency lawyers.
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.
Cooper Grace Ward Dispute Resolution Partner Rocco Russo has been listed in the 2015 Chambers Global and Chambers Asia-Pacific global rankings of leading lawyers for the practice area of Dispute Resolution (Australia).
In the recent case of Melisavon Pty Ltd v Springfield Land Development Corporation Pty Limited [2014] QCA 233, the Queensland Court of Appeal considered whether a latent defects claim against building consultants was out of time.
When a company is facing short term financial difficulties the directors or shareholders may decide to make a loan to the company to pay wages.
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.
In the recent case of In the matter of Future Developments Pty Ltd [2014] NSWSC 1712, the New South Wales Supreme Court heavily scrutinised an accountant’s administrative procedures before deciding to dismiss an application to set aside a statutory demand.
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.
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.