Forum Law News - Issue #7
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At Forum Law we know that it's vital to stay up to date with the latest legal developments that are relevant to your industry, workplace or personal circumstances. In our Forum Law News we describe some of the recent cases that may be of interest, and link to the full outlines of the cases and how their decisions affect the relevant laws, on our website.

 
  Property Law News  
 

An owners corporation has broad powers to make by-laws

The NSW Court of Appeal backed by-laws where they are consistent with the original by-laws on the strata plan

Recently the Court of Appeal in NSW overturned a Supreme Court decision which disallowed an agreement allowing the owners of strata lots to use the facilities of a resort located 15 minutes from the property. The new by-law related to provisions registered on the original strata plan and was connected to the owners' use of the property.

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  Contract Law News  
 

Are you ready for the new PPSA regime?

Be aware of the "transition" provisions

In the past, we have provided articles on the new Personal Property Securities Act 2009 ["the PPSA"] that is now due to come into force in late October 2011. We now provide you with a further update and summary regarding the provisions, including transitional security agreements and exclusions from temporary perfection.

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Can you use email to serve notices under a contract?

The law has caught up with technology in service of notices

Traditionally, contracts provide for service of a notice under the contract by hand delivery, posted by ordinary mail, or by facsimile.

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It is critical to include all the agreed terms in a contract

Don't rely on oral evidence to enforce terms and conditions of an agreement

The recent case of Keays v JP Morgan Administrative Services Australia Limited emphasises the importance of including all agreed terms and conditions either party intends to rely upon in the contract document. While the contract document is not wholly determinative of the bargain struck between the parties, the decision in the Federal Court of Australia illustrates the importance of contract documents in contrast to oral evidence.

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  Company Law News  
 

(Another) wake up call for company directors from the Centro case

More on the exercise of due diligence even when directors act honestly

On 27 June 2011 the Federal Court found that while eight current and former directors and officers of the company Centro had acted honestly, this did not discharge them from liability in the misclassification of items in the company's financial accounts in 2007.

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  Insolvency Law News  
 

When is a company deemed to be insolvent in a winding up application?

If a company does not succeed in having a statutory demand set aside within the strict time frames, then the presumption of insolvency is not debatable at a winding up hearing.

In the recent High Court decision in ASIC v Lanepoint Enterprises Pty Ltd the Court confirmed s.459C(2)(c) of the Corporations Act that a presumption of insolvency may also be deemed where a debtor seeks to wind up a company on the grounds that a Receiver has been appointed to the debtor company in the previous three months.

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  Family Trusts Law News  
 

Review the tax implications for the beneficiaries of your family trust

It is important to update your family trust deed to ensure it remains current and competent

In 2010, the High Court made a decision known as Bamford's case which has impacted the concept of 'net income' regarding family trusts distributions.

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phone 02 9560 3388 | fax 02 9569 5423 | Forum Law website