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Further reforms to executive remuneration laws announced

Gilbert + Tobin
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Australia
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March 22 2012

Following recommendations made by the Corporations and Markets Advisory Committee, the Government has announced that it will amend the Corporations Act 2001 (Cth) in order to improve disclosure in executive remuneration reports

PPSA register commenced on 30 January 2012 but it's not all smooth sailing

Gilbert + Tobin
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Australia
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March 22 2012

The national Personal Property Securities (PPS) Register commenced on Monday, 30 January 2012

Bill introduced to improve the standard of audits in Australia

Gilbert + Tobin
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Australia
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March 22 2012

The Corporations Legislation Amendment (Audit Enhancement) Bill 2012 (Cth) was introduced into Federal parliament on 29 February 2012

Bill introduced aiming to crack down on "phoenix" company activity

Gilbert + Tobin
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Australia
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March 22 2012

The Corporations Amendment (Phoenixing and Other Measures) Bill 2012 (Cth) was introduced into Federal parliament on 15 February 2012

Full Court of the Federal Court of Australia considers fiduciary and statutory duties owed by directors to a company in Omnilab Media Pty Limited v Digital Cinema Network Pty Ltd

Gilbert + Tobin
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Australia
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March 22 2012

This case concerned a joint venture company, Digital Cinema Network Pty Ltd (DCN), which negotiated with film studios and cinema owners in preparing Virtual Print Fee (VPF) agreements with regards to US film studies providing financial assistance to cinema owners converting movie projections from analogue to digital

Treasury releases proposed directors' liability reforms for public consultation

Gilbert + Tobin
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Australia
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March 22 2012

On 27 January 2012, the Treasury released an exposure draft of the Personal Liability for Corporate Fault Reform Bill 2012

Supreme Court of NSW considers scope of a vendor's obligation to do "all things necessary" in SWM Financial Services Pty Ltd v Lloyd

Gilbert + Tobin
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Australia
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March 22 2012

This case concerned a contract for the sale of an accounting business by Mr Lloyd and Ms Wu (the vendors) to SWM Financial Services Pty Ltd (the purchasers

Victorian Supreme Court considers whether the cancellation of minority shares was "fair and reasonable" in Elkington v CostaExchange Ltd

Gilbert + Tobin
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Australia
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December 14 2011

The plaintiff was a minority shareholder of the defendant company

Federal Court of Australia considers the effect of an entire agreement clause on oral evidence in Prosperity Group International Pty Ltd v Queensland Communication Company Pty Ltd (No 3)

Gilbert + Tobin
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Australia
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December 14 2011

This case concerned several contracts where Clear Telecoms (Aust) Pty Ltd, Australian Equipment Rentals Pty Ltd and Quick Fund (Australia) Pty Ltd (the Respondents) had agreed to provide telecommunications services to Prosperity Group International Pty Ltd and Worldnet Corporation Limited Pty Ltd (the Applicants

Queensland Court of Appeal construes the effect of oral and written terms on a standard loan contract in Zamia Investments Pty Ltd v Mesana Pty Ltd

Gilbert + Tobin
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Australia
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December 14 2011

Zamia Investments Pty Ltd (Zamia) and Mesana Pty Ltd (Mesana) were shareholders of Mini Tankers International Pty Ltd (MTI), a holding company with shares in Mini Tankers USA Inc (MT USA) and Mini Tankers Canada Ltd (MTC

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