Most industries fear disruption, and for good reason. Kodak identified that the film business, where they made their profit, would be ruined by the digital camera, and Blockbuster, who made their profits on late fees, was brought down by online streaming. No industry is immune to the effects of disruption including the finance industry and continue reading
The Australian Securities and Investments Commission (ASIC) has taken the position that cryptocurrency investments are high-risk and speculative, and has warned consumers about the potential risks associated with investing in cryptocurrencies. ASIC has emphasized that cryptocurrencies are not legal tender and are not regulated in the same way as traditional currencies. This means that there continue reading
Creditors often ask whether they are entitled to lodge a caveat over a debtor’s property as a mechanism for securing payment of outstanding debts. While it is in force, a caveat prevents the registration of certain dealings affecting the land in relation to which it is lodged. Relevantly, a registered caveat will prevent the transfer continue reading
Recovering loss of bargain damages following termination of a lease Most commercial leases contain clauses outlining the circumstances in which: the tenant will be in breach; and the landlord will be entitled to terminate the lease and recover any resulting loss or damage. Subject to certain restrictions and notice requirements1, termination in reliance on an continue reading
The new Commonwealth Bill seeking to force companies to put consumers’ interests first. In the aftermath of recent major data breaches causing unprecedented amounts of private information being stolen, the Commonwealth Government has tabled The Privacy Legislation Amendment (Enforcement and Other Measures) Bill 2022 (the Bill) to force companies to better protect their clients’ / continue reading
This article explores bankruptcy notices, how and when they are issued, and the options available to those issued with a bankruptcy notice. Bankruptcy Notices Generally A bankruptcy notice is a formal demand for payment based on a final judgment or order of a Court. On service of a bankruptcy notice a person owing monies, pursuant continue reading
It is commonplace for family members to loan money to other family members. As blood is said to be thicker than water, there is often little thought about documenting the agreement, let alone agreeing to clear repayment terms. In circumstances where a party loans another party money without any terms of repayment, the loan is continue reading
What is the proper role of lawyers who engage independent experts in legal proceedings? How much assistance, if any, can lawyers lend to an expert in completing their report? Is it appropriate to have regular and informal correspondence with an expert witness? This article provides an overview of two Australian cases involving the failure of continue reading
The application of the Special Wives’ Equity on the enforceability of personal guarantees It is common for the family home and other significant assets to be registered solely in the name of a wife in circumstances where her husband operates a business or is otherwise at risk of claims made by third party creditors (the continue reading
These are precarious times for the building and construction industry. This uncertainty is often heightened by standard form building contracts containing little in the way of guidance when it comes to a party being ‘otherwise in substantial breach’ of their obligations. Terms such as ‘substantial breach’ are seldom defined in these building contracts, and it continue reading
Despite volatile global market conditions, growing inflation concerns, ongoing labour shortages and supply chain disruptions, Australia’s economy has remained resilient. According to the Australian Bureau of Statistics, the Australian economy grew 0.8% during the March quarter of 2022 and 3.3% over the past year. The Reserve Bank of Australia forecasted, in its Statement on Monetary continue reading
June 2022 updates for incorporated association governance The legal landscape that the Incorporated Associations (IAs) operates within, has recently undergone a major overhaul, resulting in the assent of the Associations Incorporation and Other Legislation Amendment Act 2020 in June 2022. As a result, a staggered rollout of amendments to IA’s governing legislation is now underway. continue reading
An easily overlooked element of a commercial business sale is that of assigning the existing lease, which is key in enabling the buyer to continue operating the business in the same premises where the seller currently resides. While the steps involved, in assigning the existing lease, may be relatively straightforward the time and effort in continue reading
COVID-19 demonstrated that unforeseen events can and will occur that significantly affect businesses across all industries. Such events not only have the capacity to impact business financial performance but may also have consequences on all parties’ contractual rights and obligations in business dealings. There may have never been a better example of extenuating circumstances making continue reading
The distinction between an employee and an independent contractor has long been the subject of judicial consideration, and indeed legal commentary. Recently, the High Court delivered two judgements that marked a new approach to determining whether a person is an employee or an independent contractor. The High Court held that “where parties have comprehensively committed continue reading
So you’ve run your mouth, or more likely your fingers, the aggrieved takes issue and gives you a Concerns Notice alleging that you’ve defamed him/her and sometimes, it. What do you do? 1. Do nothing Doing nothing can be useful, until it isn’t. As discussed in my previous article on defamation, the delivery of a continue reading
It is becoming more prevalent, in connection with commercial/retail shop leases, for financiers of both Landlords and Tenants to seek the other party to enter into a direct “side deed”. For example, the Tenant’s financier will (in addition to taking a mortgage over the Lease), seek direct contractual relations with the Landlord in order to continue reading
If you are a director of a company, you need to obtain your unique Director Identification Number by 30 November 2022. New laws came into effect on 1 November 2021, through reforms to Part 9.1A of the Corporations Act 2001 (Cth) (the Act), which make it mandatory for company directors to apply for individual identification continue reading
Sajen Legal understands your need to draw on legal expertise from a trusted and experienced firm without worrying about being charged for every minute. So, in a move already turning the legal industry on its head, Sajen Legal has introduced Sajen Accord. Sajen Accord delivers a fixed fee, pro-active solution that is results focused and continue reading
A brief review of the law of defamation and its recent changes On 1 July 2021, major changes to the defamation law came into effect. These changes introduced, among other things, the single publication rule, serious harm threshold and the requirement to issue a concerns notice before proceedings can be commenced. But what does this continue reading
