The High Court’s first decision for 2025 is of great significance for the law of trusts. The High Court held, by a 4:3 split decision, that a successor trustee does not owe a fiduciary duty to a former trustee in...
MPH wrote recently on the common law position applicable in Australia (and briefly the statutory rules in NSW), in relation to the enforceability of restraint clauses. That article can be viewed here.As part of its budget papers released on 25...
IntroductionRestraint clauses are contractual provisions that restrict an employee from engaging in certain conduct following the termination of their employment. A restraint clause is generally drafted having regard to:geographical area; period of time; defined businesses or activities that the...
SummarySignificant policy changes to foreign investment rules for residential property in Australia will come into effect as of 1 April 2025 and will continue for 2 years until 31 March 2027. The new policy will ban foreign persons (which includes...
The Whyalla Steelworks is again under the voluntary administration of KordaMentha, following the South Australian Government's intervention due to the deteriorating financial position of its owner, GFG Alliance. The state and federal governments have announced a joint $2.4 billion support...
BackgroundAs you may be aware, for some years ASX’s policy (as set out in Guidance Note 8) has been to require listed entities who release announcements concerning material contracts to name the counterparties to those contracts (other than in limited...
While it may be uncomfortable to think about incapacity or death, proper planning offers peace of mind by ensuring your wishes are respected and people who you trust are appointed to manage your affairs. It can also ease the burden...
The Corporations Act 2001 (Cth) (“Act”) prohibits a proprietary company from having 50 or more non-employee shareholders. The exclusion of employee shareholders provides proprietary companies with an ability to incentivise employees through the issue of securities in the company usually...
The Australian Treasury has announced the release of a new Foreign Investment Portal to manage applications for Foreign Investment Review Board (FIRB) approvals, amongst other things. The new portal will enable submissions, payments and communication to be managed in respect...
MPH was recently engaged by a client to advise on conflicting security interests over the assets of a company that went into liquidation. This was a timely reminder of the importance of companies and businesses doing their commercial and legal...