ASIC brings action against small amount credit lender for licence breaches

ASIC has brought civil penalty proceedings against Ferratum Australia Pty Ltd, the Australian arm of the Finland-based financial services company Multitude SE, offering mobile and digital financial services in approximately 25 cou...

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Are you ready for changes to Franchise Disclosure Documents?

On 1 June 2021 it was announced that Australia's Franchising Code of Conduct ('the Code') has been amended. While many requirements imposed by these amendments took effect from 1 July 2021, most changes to disclosure requirements ...

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New Director Identification Number Requirements Coming Soon

From November 2021, directors will be able to apply for a Director Identification Number (Director ID), in an effort to prevent the use of false or fraudulent director identities and prevent director involvement in other unlawful ...

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“No extension required” – In the matter of Antqip Hire Pty Ltd (in liq)

Introduction A security interest granted under the Personal Property Securities Act 2009 (Cth) can be perfected by registration on the Personal Property Securities Register ("PPSR") at any time. However a late registration can ve...

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A winding up application made during a receivership

Introduction In Empire Capital Partners Pty Ltd v CMB Investments 1993 Pty Ltd [2021] FCA 605 ("the Winding-up Proceeding"), the Federal Court of Australia examined the relevant principles applicable to the adjournment of a windi...

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Clearing Away the Mud: Supreme Court clarifies Vesting of Disclaimed Property

Introduction In Re Empire Plant Hire Pty Ltd (in liq) [2021] VSC 549 ("Empire Plant"), the Supreme Court of Victoria recently considered the interesting question of when a receiver may be appointed over disclaimed property to ass...

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