The Australia/New Zealand Regional Group enjoyed another successful, and well attended meeting in Brisbane on Friday 22nd February. The hosts were our two Brisbane based firms, James Conomos Lawyers, represented by James Conomos and Wiebke Hermann, and Rouse Lawyers represented by Matthew Rouse. Attendees came from Sydney, Melbourne, Newcastle, Perth, Christchurch NZ, and Auckland NZ making a group of […]
Late last year ARITA released a consultation draft for the 4th edition of its Code of Professional Practice for Insolvency Practitioners, which serves to educate ARITA members as to their professional responsibilities and provide a reference for stakeholders to gauge the conduct of practitioners. Of the changes, perhaps the most significant is to the format of the […]
In a recent decision of the New South Wales District Court, a Sydney business man was sentenced to six years in jail and ordered to pay $1.8 million in reparations, after he was convicted of tax fraud relating to illegal phoenix activity. On 25 January 2019, the court found that Benjamin Ensor had fraudulently lodged […]
In the matter of Bell Lawyers Pty Ltd v Pentelow & Anor [2018] HCATrans 264, the High Court has granted special leave to appeal an earlier decision of the New South Wales Supreme Court, after it held that the Chorley exception may extend to barristers. The case follows a lengthy legal battle between Sydney barrister Janet Penetelow and […]
Dry Kirkness, based in Perth Australia, an IR Global audit and assurance member announces the expansion of its services following the merger of SW Accounting. SW specialise in the audit of self managed superannuation funds (SMSF’s). SMSF’s are a special type of retirement fund that allows fund members to self manage in a tax protected […]
In the recent matter of Monto Coal 2 Pty Ltd & Ors v Sanrus Pty Ltd & Ors [2018] QCA 309, the Queensland Court of Appeal provided a reminder that the time required to assess costs may be taken into account when determining whether a respondent is able to realise assets to pay security. Background and the […]
In the recent matter of Australian Securities & Investments Commission v Westpac Banking Corporation [2018] FCA 1733, Perram J of the Federal Court dismissed an application by ASIC and Westpac Bank for judicial approval of a penalty settlement. ASIC tends to favour reaching settlements rather than litigation for the purpose of applying penalties due its relative […]
Li-Fi Technology There are two main components to a light fidelity system. They are LED light bulb acting as an emitter, and photodetector acting as a receiver. The LED bulb is connected to the internet via Ethernet wires and transmits data through the light. On the receiving end, the photo detector is used to detect […]
A recent decision of the Federal Court has given guidance on how damages for loss arising from a wrongly-granted injunction are calculated. The case of Sigma Pharmaceuticals (Australia) Pty Ltd v Wyeth [2018] FCA 1556 belongs to a long running pharmaceutical patent litigation regarding a patent for an extended-release formulation of the medicine venlafaxine. The judgement is important […]
The Federal Court has held that payment from trust property recovered as an unfair preference must be applied by trustee in bankruptcy for the benefit of creditors of the trust. Lane (Trustee), in the matter of Lee (Bankrupt) v Commissioner of Taxation (No 3) [2018] FCA 1572 Background Mr Lee was the sole trustee of the […]
A Western Australian Phoenix operator has been sentenced to five years and four months in prison for fraudulently obtaining more than $890 000 through illegal phoenix activity. He was also ordered to repay the money. The proceeding ensued after an extensive investigation by the Australian Tax Office which revealed that Western Australian businessman Sung Jae […]
In the matter of Hyder v McGrath Sales Pty Ltd [2018] NSWCA 223, the court was required to consider whether McGrath, in their capacity as a real estate agent, had engaged in misleading or deceptive conduct by making representations to a property purchaser about parking availability. The proceedings commenced after Amy Hyder purchased a Sydney property for $9.4 […]