Court Rejects Mossgreen’s Art Collection Levy

White, in the matter of Mossgreen Pty Ltd (Administrators Appointed) v Robertson [2018] FCAFC 63 In December 2017 administrators were appointed to Mossgreen Pty Ltd, a well-known Australian auction house and gallery. The administrators sought to recover over $1 million in costs from consignors by charging $353.20 per lot for the return of goods. In some instances this read more »

Does the Rejection of a Calderbank Offer Automatically Give Rise to the Award of Indemnity Costs?

Linville Holdings Pty Ltd v Fraser Coast Regional Council (No 2) [2018] QSC 62 On the 6 November 2017, Jackson J of Brisbane’s Supreme Court handed down his decision in the matter of Linville Holdings Pty Ltd v Fraser Coast Regional Council [2017] QSC 252. Ultimately, his Honour concluded that for each of the financial read more »

Federal Court: Asset Surplus Not Enough to Save Company from Insolvency

Deputy Commissioner of Taxation, in the matter of Tank Sales Sydney Pty Ltd v Tank Sales Sydney Pty Ltd [2018] FCA 449 (3 April 2018) On 25 August 2017, the Deputy Commissioner of Taxation (DCT) filed an application to wind up Tank Sales Sydney Pty Ltd following the company’s failure to comply with a statutory read more »

New Laws Urge ASIC to Consider Competition

On March 28, the Federal Government introduced the Treasury Laws Amendment (Enhancing ASIC’s Capabilities) Bill into Parliament, following recommendations of the Financial System Inquiry and the ASIC Capability Review. The Bill seeks to amend the Australian Securities and Investments Commission Act 2001 (“ASIC Act”) enabling ASIC to operate with greater flexibility and consider competition in read more »

Queensland Court of Appeal rules that liquidators’ disclaimer trumps environmental protection order

Longley & Ors v Chief Executive, Department of Environment and Heritage Protection & Anor; Longley & Ors v Chief Executive, Department of Environment and Heritage Protection [2018] QCA 32. Background Prior to its winding up, Linc Energy Limited (in liq) (Linc) had owned and operated an underground coal gasification project near Chinchilla.  A necessity of read more »

Considering the Risk of Service by Post: Court Finds Bankrupt at Fault for Non-receipt of Mail

Last month the Federal Court handed down their decision in the case of Szepesvary  v Weston (Trustee), in the matter of Szepesvary (Bankrupt) (No 2) [2018] FCA 87. The case considered an application by Szepesvary to annul bankruptcy pursuant to s153B of the Bankruptcy Act 1966 and to set aside the bankruptcy notice upon which read more »

Unfair Contract Terms: Court Quashes JJ Richards Standard Form Contracts

Last October the Federal Court of Australia handed down their decision in the matter of Australian Competition and Consumer Commission v JJ Richards & Sons Pty Ltd. The case centered on JJ Richards standard form contracts, with the ACCC alleging the contracts contained unfair terms.

Exploring the Rise of Australia’s Paperless Property Market

In our increasingly digitalised world, technological advances are having an unprecedented impact on almost every facet of modern business. Most recently, the digital revolution has converged on the real estate industry following the establishment of PEXA and the paperless property market.