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How does a section 73 proposal work?

A section 73 proposal is a formal proposal presented to a creditor under section 73 of the Bankruptcy Act 1966. This mechanism provides bankrupt individuals with an opportunity to end their bankruptcy early. If the section 73 proposal is accepted by the creditor, the...

Corporate Governance and Technology

Is your business tech savvy? Commentators have suggested that Companies with boards that not only have an understanding but also embrace technology in their corporate governance roles will have a great advantage over those that do not. However, Australian boardrooms...

What is the Harman principle?

The Harman Principle is a rule expressed as an implied undertaking to the Court not to use documents or information that is obtained under a court order for any purpose other than that for which it was given. The rule continues to apply until such documents or...

Does a CGT exemption apply to you?

Are you thinking of selling your property? Before you do, you should familiarise yourself with Capital Gains Tax (CGT) and determine whether any exemption applies to you. A capital gain or loss on an asset is the difference between how much it costs you to purchase...

Directors appointed to the Board of a Subsidiary Company

Are you a director that has recently been appointed to the board of a subsidiary company? If you are, then it is important that you remember that your duty is to the subsidiary company to which you are a director, not the parent company which appointed you. Duties you...

Executors: Conflicts of Interest

Are you an executor of a friend or family member’s estate? Being able to identify a conflict of interest is an important skill for any executor. Failure to identify possible conflicts of interest can often have significant consequences. How to Identify Conflict of...

Workplace Policies – A great idea for any business

Do you have Workplace Policies in Place? Managing staff can be one of the most challenging things for any business. Disputes with employees can cost the business time and money. A great way to minimise disputes and to effectively manage your employees is by having...

Correction obligations on credit reports

The amendments of the Privacy Act 1988 (Cth) had a significant impact on the credit reporting system. The amendments brought the introduction of a comprehensive reporting system as well as a new corrections system. The amendments introduced a new ‘first responder’...