A cautionary tale for directors and officers

The collapse of Storm Financial Limited (Storm) occurred in the wake of the Global Financial Crisis of 2008 (GFC) and reads like a textbook cautionary tale for directors and officers. Background Emmanuel and Julie Cassimatis established Storm and at all relevant times held all shares in the company and were the only executive directors. Prior…

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Employees, independent contractors and ‘shams’

It is common for builders and operators in the construction industry to utilise contractors to carry out specific trade skills such as concreting, plastering, bricklaying and plumbing. Business operators however, need to be cautious when ‘hiring’ skilled or other labour to ensure that they are not in breach of provisions of the Fair Work Act…

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Does your privacy policy comply with the privacy laws?

New privacy laws known as the Australian Privacy Principles were introduced in 2014, the laws are a new set of privacy principles affecting the handling of personal information. If you have a website privacy policy you should review it for compliance with the privacy principles. The aim of the principles is to bring Australia’s privacy…

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Merger Announcement

We have much pleasure in announcing that Sajen Legal and Ferguson Cannon Lawyers are merging. After a combined history of almost 50 years, we’ve decided that it’s time to join forces. The new firm will be known as Sajen Legal and will begin operating on Tuesday May 2. The faces you know aren’t changing –…

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Let me Be – the Skinny on Commercial Leases

When renting a business related property it is important for both Landlords and Tenants to understand the relationship they are entering into and the rights and obligations that they each have, the document that governs this relationship is usually a Commercial Lease. So what is a Commercial Lease? A lease is a legally binding contract…

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The Low Down on Buying a Business

If you are considering buying a business there are many things you need to do from a legal, financial and general business perspective.  Getting the right advice from the start is important. The structure of and issues involved in the sale are quite different if you are buying the business assets only, compared with the…

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Broken Benches – What’s the Score with Bankruptcy?

One of the possibilities of coming into financial strife is that a person may have to deal with bankruptcy. Bankruptcy can have long term adverse effects on a person’s credit rating and ability to borrow money in the future. As such, it is crucial to be informed about bankruptcy and its effects. What is bankruptcy?…

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Out They Go! Major Changes To Retail Shop Leases Act

Landlords, tenants and managing agents should be aware of new provisions under the revised Retail Shop Leases Act 1994 (the ‘Act’). The Retail Shop Leases Amendment Bill 2015, staged to commence in November 2016, triggers new considerations when entering into a lease. The changes are intended to uphold present consumer protective provisions, whilst clarifying some…

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It’s Just Not Fair – The Unfair Contracts Regime Expanded To Small Business

The Federal Government has enacted legislation extending the unfair contract term protections of the Competition and Consumer Act 2010 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth) to the small business sector. Under the new laws, a Court is able to declare that a term of a standard form small business contract…

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Are You A Director Of An Insolvent Company?

During difficult economic conditions it is important that all directors revisit their duties as directors and are aware of how the board should deal with the situation where a company is in financial difficulty and may be insolvent. What is insolvency? A company is deemed to be insolvent when it cannot pay its debts as…

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