An issue of Trust: Determining the priority of competing claims to trust assets

The decision of Francis (Trustee), in the matter of Fotios (Bankrupt) v Helios Corporation Pty Ltd [2022] FCA 199 ("Francis") is a useful examination of identifying and determining the priority of competing claims to trust assets....

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What a Mess! High Court refuses application for special leave – disclaimer of onerous property set aside leaving liquidator liable for clean-up costs.

In March 2022, the High Court refused the Australian Sawmilling Co's (TASCO) application for special leave to appeal a decision of the Victorian Court of Appeal. This decision leaves undisturbed the Court of Appeal's decision t...

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A phoenix that will not rise from the ashes – anti-phoenixing provisions render Sale Agreement voidable

Introduction On 11 May 2022, the Supreme Court of Victoria handed down its decision in Re Intellicomms Pty Ltd (in liq) [2022] VSC 228. The case concerned an application by the liquidators of Intellicomms Pty Ltd (in liq) ("Compa...

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High Court Ruling on SMSF Death Benefits

The recent High Court decision of Hill v Zuda Pty Ltd has provided clarity on whether self-managed super fund (SMSFs) can make binding death benefit nominations (BDBNs) last longer than 3 years. The High Court considered whethe...

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Deadline to apply for Director ID is fast approaching

Company directors, new and existing, must apply now for a director identification number, or Director ID. The requirement was established to deter illegal phoenixing, fraud and corporate misconduct, as well as to simplify the t...

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Encouraging a Circular Economy in NSW: the New Plastic Reduction and Circular Economy Act 2021

Production stewardship Scheme The circular economy aims to reduce the use of virgin materials by encouraging the use of recycled and repurposed materials that can continue to circulate in the economy. The circular economy maxi...

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