Risky business: directors personal guarantees in leases

If you are a director of a company entering a commercial or retail lease, a landlord will likely require you to give a personal guarantee for the company’s obligations under the lease. In such cases, directors should fully comprehend the extent of the guarantee they provide, and obtain appropriate legal advice to minimise financial exposure. […]

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Claims against companies in liquidation

Companies and liquidation A company is said to be insolvent when it is unable to pay all its debts as and when they fall due.  The Corporations Act 2001 (Cth) (Act) sets out the procedure to appoint an official liquidator to wind-up the company.  During the winding-up process, a liquidator will ascertain the company’s debts, […]

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Boardroom bullying: When governance crosses the line

Boardrooms are often the place of heated debate over a range of matters affecting the operations of an organisation. It is not unusual for egos to be tested and tempers tried when board members, equally passionate about the best interests of the organisation, engage in various tactics and strategies to put across their point of […]

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Can my landlord stop me from assigning or subletting my lease?

Throughout the course of a lease, tenants may want to assign or sublet their lease if they sell their business, wish to move or encounter financial difficulty. However, this process can pose several legal challenges. Whilst in some cases assigning or subletting may be prohibited, the majority of leases contain a clause, which specifically prevents […]

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5 Tips To Reduce Your Legal Costs

If you or your business is involved in a commercial dispute, your biggest concerns are likely the financial losses that your organisation could suffer and your legal costs. By following our 5 top tips, you can reduce your legal costs while assisting your lawyer in providing you with efficient and tailored advice. 1. Get legal […]

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What is Estate Planning?

An estate plan involves more than signing a will and storing it in a ‘safe place’. Estate planning requires a holistic approach that considers a person’s present circumstances and foreseeable future. A plan needs to consider who matters, what you have now, what you may have in years to come, and what your final wishes […]

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Rights of an unsecured creditor of a company in liquidation

Once a company is placed into liquidation, a liquidator will be appointed to manage the affairs of the company and the process of the liquidation. The liquidator’s role is to manage the affairs of the company for the benefit of creditors. One of a liquidator’s first tasks is the review of the books and records […]

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Important Updates for Directors: New Anti-Phoenixing Laws

Spotlight on phoenix activities The new Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (“Act”) targets illegal phoenix activities by company officers, including directors. Phoenixing involves activities by company officers aimed at avoiding liability for company debt. An example of illegal phoenixing is where directors cause the transfer of assets of the original company for […]

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Mental Capacity and Wills

A person must have the proper mental capacity to make or update a will — this is called “testamentary capacity” and is one of the key elements of a valid will. The question of testamentary capacity is an important consideration in will-making and can be a contentious issue.  How often do we hear family members […]

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Witnessing Documents in the COVID-19 Environment

On 11 August 2020, the COVID-19 Response and Economic Recovery Omnibus Bill 2020 was introduced in the Parliament of Western Australia. The aim of the Bill is to deliver measures that will facilitate business continuity in the COVID-19 environment, and to enable aspects of the economic recovery from the current crisis. One of the problems […]

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