What is a Business Will? Here is the answer!

By on 19 September 2011 in Corporate Structuring with 0 Comments
What is a Business Will? Here is the answer!

I recently met with a client and their Accountant to discuss some business succession issues. One of the questions I asked was what happens to the business if one of the owners dies. This led to other questions like: Does the deceased spouse go into partnership with the other owners? How is the deceased paid […]

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Work Health and Safety – Company Directors Getting Ready for the New Laws

By on 13 September 2011 in Corporate Structuring with 0 Comments
Work Health and Safety – Company Directors Getting Ready for the New Laws

Australia has 10 different laws relating to Occupational Health and Safety. This will change on 1 January 2012 with the introduction of the Work Health and Safety Act. The Federal Government has established Safe Work Australia to implement the new laws. The Australian Institute of Company Directors, in the August 2011 edition of their magazine “Company Director” […]

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

By on 5 September 2011 in Personal Property with 0 Comments
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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Corporate Governance and Directors Duties

By on 21 August 2011 in Corporate Structuring with 0 Comments
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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Related Party Transactions

By on 15 August 2011 in Trade Law with 0 Comments
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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Business Wills – Failing to Execute

By on 7 August 2011 in Corporate Structuring with 0 Comments
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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Asset Protection for your Business

By on 2 August 2011 in Corporate Structuring with 0 Comments
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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Partnerships – Breach of Duty

By on 22 July 2011 in Corporate Structuring with 0 Comments
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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The End of Ratchet Clauses – Amendments to the Retail Shop Leases Act

By on 26 April 2011 in Commercial & Retail Leasing with 0 Comments
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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Natural Disasters and Your Employees

By on 11 April 2011 in Employment Law with 0 Comments
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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