All FocusPapers
As highly regarded experts in their fields, the team at Addisons are regularly called upon to write for a variety of publications or speak on particular areas of law in the media. We understand the importance to our clients of having regular access to articles outlining the current legal issues affecting their businesses.
We have therefore created the Addisons FocusPapers, where you will find recent articles, publications and newsletters written by our team on particular practice areas and specialisations.
Contracts and Literal Meaning - Be aware of the scope of your contractual obligations and rights
12 January 2012
Author: Nicole Tyson, Partner
Practice area: Insolvency & Corporate Reconstruction
The High Court has recently reaffirmed that parties are bound by the literal meaning of words in a contract. Even if the effect of the literal meaning is unfair or lacks business sense, the parties will be bound unless it is patently absurd or ambiguous: see Western Export Services Inc v Jireh International Pty Ltd [2011] HCA 45.
Group buying deals so hot they can burn: is there value in advertising your business on a group buying site?
23 December 2011
Author: Jamie Nettleton, Partner
Practice area: Intellectual Property & eCommerce
" Australian group buying sites have an estimated collective value of $400 million, and together publish 4000 deals daily, with each deal emailed into thousands of Australian inboxes. " This segment of the e-commerce sector is experiencing rapid growth in Australia, estimated to be at 72% each quarter; and its collective worth grew from $73 million in the first quarter of 2011 to $123 million by June
Gambling Law & Regulation - December 2011
23 December 2011
Author: Jamie Nettleton, Partner
Practice area: Gambling
In this newsletter, we address the implications of the report of the recent inquiry into online and interactive gambling conducted by the Parliamentary Joint Select Committee on Gambling Reform on both the Australian wagering sector and the regulation of online gaming in Australia.
Can a Registered Proprietor Caveat to Protect Against a Mortgagee's Wrongful Exercise of the Power of Sale?
9 December 2011
Author: Philip Stern, Partner
Practice area: Insolvency & Corporate Reconstruction
The Supreme Court of South Australia held in Stone v Leonardis [2011] SASC 153 that a mortgagor may caveat to protect its interest as registered proprietor when a mortgagee wrongfully exercises its power of sale.
Australian Consumer Law - Section 86 - Prohibition on Supply and Accepting Payment during the Cooling-Off Period - Direct Selling Industry - Be Ready and Be Compliant
5 December 2011
Author: Jamie Nettleton, Partner and Cate Sendall, Senior Associate
Practice area: Marketing & Advertising
2011 has seen the introduction of the Australian Consumer Law, which contains numerous restrictions relating specifically to unsolicited consumer agreements. These restrictions have affected the way direct selling organisations conduct their businesses. The most onerous of the restrictions is contained in section 86 of the ACL which prohibits the supply of goods and services and the acceptance of payment for goods and services during the cooling-off period.
Loans with No Repayment Terms - Can Equal "Gift"?
5 December 2011
Author: Philip Stern, Partner
Practice area: Insolvency & Corporate Reconstruction
It is common for loans particularly between family and friends to contain no term as to repayment. This may lead people to believe that the money only becomes payable when other the party demands its return. That is incorrect. A loan of money which contains no agreed repayment term becomes due and payable the instant the money is advanced. Therefore any cause of action arises then.
Proposed New Guidance on Downstream Acquisitions
5 December 2011
Author: Renee Shipp, Senior Associate
Practice area: Corporate, Mergers & Acquisitions
ASIC has released Consultation Paper 170: Downstream Acquisitions: Update to RG71 detailing its plans to update the guidance on the takeovers exception for downstream acquisitions which is set out in s. 611, Item 14 of the Corporations Act 2001 (Cth).
Continuous Disclosure - What Obligations do Directors Have?
25 November 2011
Author: Jeff Mansfield, Partner and Li-Jean Chew, Senior Associate
Practice area: Corporate, Mergers & Acquisitions
Listed Australian companies have an obligation to keep the market continuously informed, subject to certain limitations, about any information that a reasonable person would expect to have a material effect on the price or value of their securities. Failure to do so may put the company in contravention of section 674(2) of the Corporations Act 2001 (Cth).
Raising the bar - new financial requirements for responsible entities
21 November 2011
Author: Daniel Goldberg, Special Counsel
Practice area: Corporate, Mergers & Acquisitions
ASIC has released final details of the new financial requirements to be imposed on responsible entities of registered managed investment schemes.
'The Paperless Office' - How Much Paper is Enough for Your Company?
21 November 2011
Author: Michael Ryan, Partner
Practice area: Corporate, Mergers & Acquisitions
In Australia, there is no general requirement that records of correspondence and documents must be retained nor is there any general requirement that records must be kept in paper form.
ASIC Finalises Guidance on Prospectus Disclosure - Regulatory Guide 228
18 November 2011
Author: Jeff Mansfield, Partner and Li-Jean Chew, Senior Associate
Practice area: Corporate, Mergers & Acquisitions
Following industry consultation on Consultation Paper 155 (CP 155) which was published by ASIC on 12 April 2011, ASIC released its finalised guidance on prospectus disclosure in the form of Regulatory Guide 228 (RG 228) on 10 November 2011.
Proposed Changes to the ASX Listing Rules - How the Changes Will Affect New Listings and Disclosure for Mining and Oil & Gas Companies
17 November 2011
Author: Jeff Mansfield, Partner and Li-Jean Chew, Senior Associate
Practice area: Corporate, Mergers & Acquisitions
ASX has recently issued two releases that may result in amendments to the ASX Listing Rules: * a proposal to require directors of entities wishing to be listed to be of "good fame and character"; and * a public consultation paper on the Listing Rule reporting requirements applicable to mining and oil & gas companies.
Is recovery by directors of defence costs under D&O policies on the rocks? - Implications of Steigrad v Bridgecorp -
4 November 2011
Author: Jeff Mansfield, Partner and Li-Jean Chew, Senior Associate
Practice area: Corporate, Mergers & Acquisitions
The recent decision of the High Court of New Zealand in Steigrad v Bridgecorp[1] (Bridgecorp decision) has caused a stir amongst directors. It raises concerns over the recoverability by directors under traditional directors and officers insurance policies (D&O policies) for their legal costs in defending a claim against them.
Competition & Consumer Quarterly
17 October 2011
Author: Laura Hartley, Partner (Editor)
Practice area: Corporate, Mergers & Acquisitions
In this edition: * Food Industry Beware - ACCC drawn to misleading and deceptive conduct like a bee to honey * Federal Court decision on search engine marketing: sponsored links may be misleading but advertisers have only themselves to blame * Slimming spray sales representations stopped overseas * Knock, knock. Who's there? - ACCC imposes infringement notices and accepts undertaking from a door-to-door sales company in respect of misleading representations made during in-home presentations * ACCC issues surprising statistics about the first six months of the new mandatory reporting requirements under the product safety provisions of the Australian Consumer Law
ACCC issues surprising statistics about the first six months of the new mandatory reporting requirements under the product safety provisions of the Australian Consumer Law
17 October 2011
Author: Laura Hartley, Partner
Practice area: Competition, Trade Practices & Regulatory
Mandatory reporting statistics out - The ACCC issued interesting statistics on how many reports have been lodged with it under the new mandatory provisions of the Australian Consumer Law and how many product recalls have resulted.