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Report: Private Equity Horizons 2019 market update
The busy run experienced by private equity managers in Australia in the last couple of years slowed down considerably in 2019. As a result, having raised record sized funds, private equity managers ...
Offsetting carbon and saving the reef
As a certified carbon neutral organisation, we take steps to reduce our greenhouse gas emissions and support carbon offset projects in partnership with the Qantas Future Planet program. One such project is underway in Babinda, located 20 ...
Queensland Supreme Court refuses to order disclosure of class action defendant's insurance policy, providing further guidance on the making of such orders
The Queensland Supreme Court has refused an application by a class action plaintiff seeking to compel the defendant to disclose its insurance policy and documents relating to its insurance position. In doing so, the court commented on the recent Federal Court decision in the Radio Rentals class action but came to a different result on the facts. This decision shows that when determining whether or not to make an order for disclosure, the court is likely to take into account the defendant's financial capacity, and may be less likely to make such an order where the defendant's solvency is not a concern. ...
Latest coal mine decision concludes scope 3 emissions are the end customer's responsibility
The Rix's Creek Continuation Project has been approved by the NSW Independent Planning Commission only weeks after the refusal of the Bylong Coal Project. In its approval of Rix's Creek, the Commission accepted that scope 3 emissions are the responsibility of the end customer for coal exports. This conclusion significantly departs from the position taken by the differently constituted Commission on Bylong. ...
Vale restitution? The High Court clarifies remedies available to construction contractors following termination for repudiation
In a welcome decision for principals engaging contractors for construction work, the High Court has substantially limited the availability of the restitutionary remedy of a quantum meruit where a ...
If in doubt, get the whitewash out
The High Court's first decision on the financial assistance prohibition in section 260A of the Corporations Act supports a conservative approach to the prohibition, and in particular highlights the ...
Cartel Confessions: the latest Cartel Immunity Policy commences
On 1 October 2019, the ACCC's new Cartel Immunity and Cooperation Policy came into effect. The revised policy now excludes concerted practices and requires a higher level of cooperation from partie ...
ASIC Corporate Governance Taskforce Report
ASIC has released its first report focusing on director and officer oversight of non-financial risk in seven large financial services companies (the First Report). While the report focuses on financial services companies, ASIC points out expressly that all companies, regardless of sector, should read and engage with the findings of this report. ...
All that glistens isn't Goldsky – key learnings from the ASIC v Goldsky decision
The recent case of ASIC v Goldsky Global Access Fund raises a number of compelling questions (some of which we explore below), and fund managers would do well not to place too much stock in the ...
Inducements in the corporate superannuation sector – guidance misses the mark
There are considerable problems with some guidance that was published a few months ago on section 68A ('no treating of employers') of the Superannuation Industry (Supervision) Act 1993 . ...