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What? You’re Insolvent? That’s fine, just keep working. - Dec 2017

From 1 July 2018, reforms to the Corporations Act 2001 (Cth) (the Act) will become effective including the addition of safe harbour laws and protections against ipso facto clauses.  

The introduction of the new provisions in the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cth) provides some safeguards to directors who attempt to ‘trade out’ of financial trouble without the threat of being personally liable for insolvent trading arising from debts incurred in attempting to do so or its trading contracts being terminated because an insolvency event has been triggered.

Megan Calder, Partner and Jeremy Chan, Lawyer discuss below.

Project Bank Accounts – What Lies Ahead - Dec 2017

The new Building Industry Fairness (Security of Payment) Bill 2017 (Qld) was assented to on 10 November 2017, which will see the introduction of project bank accounts (PBAs) into the Queensland construction industry.  As the project bank account provisions will be trialled from 1 January 2018, contractors, at least those involved in State Government projects, should familiarise themselves with the relevant provisions.

Ted Williams, Partner, Andrew MacGillivray, Senior Associate and Denise Burloff, Law Graduate discuss the PBA provisions contained in Chapter 2 of the new Building Industry Fairness (Security of Payment) Act (‘BIF Act’).

One provision to void them all: the shadow life of section 34 - Dec 2017

Robert Riddell, Partner and Daniel Fitzpatrick, Special Counsel discuss the provisions in Section 34 of the Building and Construction Industry Security of Payment Act 1999.

Factoring of Debtors and Leading with your Chin - Nov 2017

Factoring agreements are very popular with subcontractors and suppliers in the construction industry,   assisting cash-flow by providing a line of credit against accounts receivable.  However, like any financial product, they can present complexities, pitfalls and at times surprises when pursuing debt recovery and enforcement action.

Daniel Fitzpatrick, Special Counsel discusses.

A New “Fairer” Way In Queensland – Building Industry Fairness (Security Of Payment) Act - Nov 2017

On 10 November 2017, the new Building Industry Fairness (Security of Payment) Bill 2017 (Qld) was assented to by the Parliament.  This will see the introduction of Project Bank Accounts[i], and the repealing and replacement of the Building and Construction Industry Payments Act 2004 (Qld) (‘BCIP Act’) and Subcontractors’ Charges Act 1974 (Qld). 

Andrew MacGillivray, Senior Associate and Denise Burloff, Law Graduate discuss the key changes to the security of payment regime (previously contained in the BCIP Act) to be contained in Chapter 3 of the BIF Act. 

Unfair Terms In The Construction Industry | First Judicial Consideration - Nov 2017

It has now been one year since the ‘unfair term’ provisions contained in the Australian Consumer Law came into effect.  Given that standard form contracts are commonplace in the construction industry, it is important that contractors and suppliers remain aware of their potential effects.

Andrew MacGillivray, Senior Associate and Denise Burloff, Law Graduate discuss.

A New Month, A New ‘Non-Conforming Building Products’ Regime - Nov 2017

On 24 August 2017, the Queensland Government passed amendments to the Queensland Building and Construction Commission Act 1991 (Qld) (QBCC Act) which created a new regime to address ‘non-conforming building products’ and amended reporting and investigative requirements regarding work health and safety matters.  These changes and accompanying regulation took effect on 1 November 2017.[1] 

In this article, Andrew MacGillivray, Senior Associate and Marya Atmeh, Lawyer, provide an overview of the changes now in force.

 

How To Draft An Enforceable Liquidated Damages Clause - Oct 2017

As liquidated damages clauses are essential to compensate principals to construction contracts, it is important that they are drafted with proper consideration and are ultimately enforceable.  Andrew MacGillivray, Senior Associate and Denise Burloff, Law Graduate discuss the application of the ‘penalties doctrine’ to liquidated damages clauses in construction contracts.

Factoring and Security of Payment - Sep 2017

Who would have thought that the ubiquitous factoring agreement could become so controversial?  Few would dispute that cash-flow is the lifeblood of the construction industry and that factoring is a popular way to maintain it.  However, like most financial products, factoring agreements present complexities and at times surprises, one of which was recently before the Supreme Court in the decision of Quickway Constructions Pty Ltd v Electrical Energy Pty Ltd.[1]

Daniel Fitzpatickspecial counsel, discusses the controversial factoring agreement.
 

Construction Payment Regimes To Change In Queensland - Aug 2017

The Queensland Government’s introduction of the Building Industry Fairness (Security of Payment) Bill 2017 (Bill) seeks to make significant changes to the mechanisms for payment in the construction industry, through establishing a new Act that incorporates a number of new and old regimes.  Andrew MacGillivray, Senior Associate and Denise, Burloff, Law Graduate discuss the key changes

The significant changes are as follows:

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