Blog News

5 September 2011

The Personal Property Securities Act – important changes for businesses supplying goods on credit

Businesses and individuals that provide finance secured by personal property, or who supply goods on a retention of title (ROT) basis, should be aware of the introduction of the Personal Property Securities Act. The new legislation will require that, where businesses are supplying goods on credit, their interest should be registered on the new Personal […]

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21 August 2011

Corporate Governance and Directors Duties

I recently met with a client who was the sole director of a company turning over in excess of $10 million dollars. There were 9 shareholders in total, with my client being a majority shareholder. I was concerned about the general lack corporate governance and reporting to the shareholders, as they only had 1 meeting […]

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15 August 2011

Related Party Transactions

I had a meeting with a client last week that highlighted to me the importance of understanding your obligations when dealing with related parties of your company. This client was experiencing some significant financial difficulty and thought that the assets the client wished to protect from the company at risk of going into liquidation, were […]

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7 August 2011

Business Wills – Failing to Execute

I recently spoke with a colleague who relayed a tale of woe about a business owner he knew who passed away recently. About 5 years ago the deceased (Partner A) and his business partners (Partners B and C) decided it would be a good idea to get some life insurance to fund a buy out […]

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2 August 2011

Asset Protection for your Business

I was recently invited to sit on Your Business Panel. The panel was put together with the objective of assisting business owners by providing expert advice from different professions, in a unique question and answer session. One question asked during the panel’s session highlighted to me the importance of asset protection in the structure of […]

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22 July 2011

Partnerships – Breach of Duty

I recently was involved in a case where I acted for a partner of a business (90% ownership) who had experienced considerable angst when the other partner (owning a 10% interest) departed the business and took with him approximately 60% of the client base. This matter highlighted to me, and all parties involved, the quite severe […]

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26 April 2011

The End of Ratchet Clauses – Amendments to the Retail Shop Leases Act

Rent payable by a Lessee in a retail shop lease can now decrease at a market review. A clause in a lease which prevents the lease decreasing is commonly known as a Ratchet Clause. The Retail Shop Leases Act has been amended by inserting a provision that makes a ratchet clause in a retail shop […]

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11 April 2011

Natural Disasters and Your Employees

The recent natural disasters in Queensland and other areas have highlighted the importance of having clear and concise workplace policies dealing with extreme weather conditions, so as to prevent confusion as to who is entitled to what. The situations outlined below provide a brief summary of an employer’s position in situations where a business is closed […]

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4 April 2011

Timing Requirements – Retail Shop Leases Act QLD

One of the most common questions I get asked and one of the biggest issues in retail leasing is what are the timing requirements under the Retail Shop Leases Act. The Retail Shop Leases Act places strict time requirements on parties who are or have entered into a retail shop lease in Queensland and failure to comply […]

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28 March 2011

Insolvent Trading

Many businesses are currently facing financial pressure, either directly or indirectly because of the credit crunch. This can lead to concerns about solvency. Directors, or persons who could be deemed to be directors, can be held personal liable for debts of the Company where: the Company incurs a debt; and the Company is insolvent at […]

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