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ACT – Causes of Building Action
Contact: Maurice Falcetta Disagreements between owners and builders are quite common, whether they concern the use of certain materials or whether items are compliant with he contract or the standards. As such, it is important for all parties involved in the building to be aware of potential causes of action that may arise. STATUTORY […]
Loss of Enjoyment and Damages
Contact: Maurice Falcetta Can builders be liable for damages to homeowner’s loss of enjoyment of their home? How do we quantify that amount? The principles governing breaches of building contracts are well established in Australia. There are clear provisions outlining how damages are to be awarded in circumstances where a breach of such a contract […]
Accessorial Liability of Professional Advisers
Contact: Maurice Falcetta When providing legal advice or financial advice, all advisors should be mindful of their accessorial liability. It is easy to be too involved in helping a client particularly when they are in a difficult position. It is important to understand the boundaries. In the corporate context, section 79 of the Corporations Act […]
The Importance of Vendor Warranties
Contact: Mark Poretti In most business sales, the humble vendor warranty is often overlooked and understated in its value to the purchaser. This is despite the significant consequences if a vendor breaches these warranties (e.g. termination of contract and damages). In this article we review the importance of vendor warranties and how a tailored approach […]
Anti-Phoenixing Provisions
Contact: Maurice Falcetta In February of this year, a new amending act was passed: Treasury Law Amendment (Combating Illegal Phoenixing) Act 2020: An act to amend the law relating to corporations and taxation, and for related purposes (the Act). The amendments affect primarily the Corporations Act 2001 (Cth) by introducing new offences for illegal phoenix activity, primarily […]
Ipso Facto Reforms
Contact: Maurice Falcetta On 1 July 2018, amendments to the Corporations Act 2001 (Cth) came into effect, commonly called the ‘ipso facto reforms’. These amendments were designed to protect companies experiencing financial difficulties that are taking steps to combat potential insolvency to assist them with successfully restructuring. How to recognise an ipso facto clause An ipso […]
The New Normality – The impact of COVID-19 on Law:
COVID-19 has had a significant impact on the way businesses operate and consequently, businesses have had to adapt to a ‘new normal’. At Trinity Law, we specialise in four broad areas of our business consisting of Commercial and Business Law, Property Law, Commercial Litigation and Small to Medium Enterprise. While Trinity is one firm, each […]
Meaning of Debt in an Insolvency Context
Contact: Maurice Falcetta In general terms, a company or person is viewed as being ‘insolvent’ when they are unable to pay all of their debts. This is specifically addressed under section 95A(1) of the Corporations Act 2001, which provides that ‘[a] person is solvent if and only if, the person is able to pay all the […]
COVID-19 (Coronavirus) and its impact on contract performance
Contact: Maurice Falcetta The impact of COVID-19 (coronavirus) has been devastating on the world-wide economy primarily due to its effect on major supply chains and a mass decrease in customer consumption. Small businesses or individuals who have signed contracts prior to this global pandemic may now be asking can COVID-19 be relied on to ignore their […]
Why your behaviour on the work site matters
Contact: Maurice Falcetta The phrase “let’s put the contract in the bottom drawer” is a noble sentiment. However, that may have unintended consequences including that you may not be able rely on parts of your contract when you critically need to. The overarching approach to contractual interpretation is to first look to the four corners of […]