If a director can exercise a right of set-off against a company in liquidation for a debt owed to the director or for a liability of the company to the ...
If a director can exercise a right of set-off against a company in liquidation for a debt owed to the director or for a liability of the company to the director (which may be unascertained in amount or contingent), it may help to cancel out or significantly reduce the director’s
Last week judgment was handed down in the high profile Supreme Court case of Flegg v Hallett [2015] QSC 167 with Justice Peter Lyons upholding the defamation claim made by former Queensland Government Minister Dr Bruce Flegg against his former media adviser Mr Graeme Hallett. Cooper Grace Ward litigation partner
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]
It is common for the Commissioner of Taxation to issue a statutory demand against a company and express the debt as a single amount, being the total deficit debt stipulated on a Running Balance Account (RBA). No breakdown is provided in the statutory demand showing the actual composition of the
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.
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.
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.
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.