CBA Joins World Bank To Deliver World’s First Blockchain Bond

The World Bank has endorsed the Commonwealth Bank of Australia as the sole arranger of the world’s first blockchain bond. The development comes in response to strong investor interest in bond-i (blockchain offered new debt instrument) technology, and is expected to launch following consultation with a wider investment group. Labelled ‘$AUD Kangaroo bond’, the new read more »

FCA: Trustees Entitled to Acquire Assigned Claims

In Rambaldi v Meletsis, in the matter of Karas (Bankrupt) [2018] FCA 791, the court was required to consider whether the trustees of a bankrupt estate had the power to acquire assigned claims. Background In 2011, Nick Meletsis replaced his brother-in-law, Tom Karas, as the sole director and shareholder of 70 Nicholson Street Pty Ltd. Following this, read more »

SCV: Google Not a Publisher of Online Search Results

In the decision of Defteros v Google Inc LLC, the Supreme Court of Victoria found in favour of Google, asserting that an internet search engine is not necessarily a publisher of material produced in a search. The applicant to the proceedings, George Defteros, is the plaintiff in a defamation proceeding currently before the courts, whilst read more »

NSWCA: Liquidators Unable to Recover Third Party Payments as Unfair Preferences

In the recent case of Hosking v Extend N Build Pty Limited, the New South Wales Court of Appeal was required to consider whether payments made by a third party to an insolvent company’s creditor could be recovered by the liquidators as unfair preferences. In 2012, Built NSW Pty Ltd subcontracted work to Evolvebuilt, with read more »

HCA Confirms Validity of Holding DOCAs

In the recent case of Mighty River International Ltd v Hughes, the High Court of Australia considered 2 cases on appeal from Supreme Court of Western Australia. Both involved a contested deed of company agreement (DOCA) entered into between Mesa Minerals Ltd and its creditors. The case ensued after Mesa Minerals Ltd entered voluntary administration read more »

Google Loses Online Defamation Case

A recent decision of the High Court of Australia has allowed Milorad “Michael” Trkulja to sue Google for defamation, following a six-year legal battle. After being shot in the back in a Melbourne restaurant in 2004, Trkulja was falsely linked with Melbourne’s criminal underworld and later featured in a series of online search results and images. read more »

NSWCA: Chorley Exception May Extend to Barristers

In the matter of Pentelow v Bell Lawyers Pty Ltd [2018] NSWCA 150, the New South Wales Court of Appeal was required to consider whether the ‘Chorley exception’ applies to barristers as well as to solicitors.  The Chorley exception is an exception to the well-established rule that a self-represented litigant is not entitled to professional read more »

NSWCA: Voluntary Administrator Lawful in Terminating Rabbi’s Employment

In a recent matter before the New South Wales Court of Appeal, the court was required to determine whether the Voluntary Administrator of the South Head Synagogue acted lawfully in terminating the employment of Chief Rabbi Benzion Milecki. In doing so, they were required to consider whether Orthodox Jewish Law (Halakah) could be incorporated into read more »

Court Awards Liquidators Unfair Preference Payments

In the matter of Trenfield v HAG Import Corporation (Australia) Pty Ltd the court was required to consider whether the liquidators of Lineville Pty Ltd were entitled to recover a number of payments as preferences pursuant to s588FA of the Corporations Act 2001 Cth. The payments in question were made by Lineville to HAG Import read more »

New Laws Introduce GST Withholding Obligations for Residential Property Purchasers

Next week the Treasury Laws Amendment Act (2018 Measures No.1) 2018 (Cth) will come into effect, imposing new GST withholding obligations on purchasers of certain residential real property. The new measures have been designed to prevent property developers from intentionally avoiding their GST obligations, after a spate of incidents in recent times. From July 1, read more »