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Proposed changes to Credit Risk Management Prudential Standard (APS220)
In the absence of the Responsible Lending Obligations, lending by Australian banks will be regulated by APRA. This means the new Credit Risk Management Prudential Standard (APS220) will be the central legislative guidance in designing consumer assessment and lending protocols. ...
Government introduces the Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020
The Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 aims to implement the Hayne Royal Commission recommendations in relation to changes to ongoing advice fee arrangements, superannuation trustees passing on advice fees and requiring AFSL holders or authorised representatives (providing entity) to disclose a lack of independence when providing personal advice to retail clients. ...
Allens advises on $4.2bn WestConnex refinancing
The $4.2 billion of new non-recourse debt comprises $3 billion of bank term debt facilities with tenors of three, five and seven years, and a $1.2 billion two-year bridge facility. The interest rat ...
Small business restructuring reforms
The Federal Government's insolvency reform package relating to small business provides for a debt restructuring process intended to give eligible small businesses the flexibility to restructure debts while the directors remain in control of the business, and for a new simplified liquidation process for small business. ...
Enhancing Australia's decommissioning framework
The aim of the Enhanced Framework is to ensure that Australia is sufficiently positioned to respond to decommissioning challenges and to ensure the Australian regime is clear, fit for purpose and leading practice. ...
Allens advises Newcrest on renewable energy PPA
The PPA, which is designed to meet part of the future energy requirements for Newcrest's Cadia Mine in central western NSW, is for approximately 55 per cent of the output of the proposed ~400MW Rye ...
Allens advises on Australia's first PPP green loan
The debt facilities refinance stage 1 of Canberra's light rail network, which began operations in 2019 and is the largest single infrastructure project ever undertaken by the Australian Capital ...
Escaping IP infringement of renowned handbag
On 6 November 2020, Australian fashion label State of Escape Pty Ltd ( State of Escape ) – renowned for its 'unique' perforated neoprene handbag – lost its two-year-long battle with Chuchka Bags Pt ...
Exhaustion of rights doctrine is now in Australia
Calidad Pty Ltd v Seiko Epson Corporation confirms the exhaustion of rights doctrine now applies to Australian patent law. Patent owners cannot exercise their rights under the Patents Act 1990 (Cth) (Act) over specific patented products once those specific products have been sold onto the market. ...
Court calls last drinks on URBAN ALE trade mark
Is URBAN ALE a distinctive trade mark? Would you consider the words URBAN PALE (displayed prominently on your stubby) to merely describe the type of beer? Are inner-city breweries 'cool', 'trendy' ...