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News & Knowledge

MSI Australia & New Zealand: June/ July news-round up

18th July 2017

Each month MSI publishes a selection of articles written by its AusNZ member firms highlighting important topical issues in the Australia & New Zealand region.

Does your contract include an unenforceable penalty clause?

By Marcelle Webster & Ben Nearhos, Tucker & Cowen, Lawyers, Brisbane

If your contract contains a term which amounts to a ‘penalty’, the term will not be enforced by a court.

Buying or selling a business? You need to know about “restraints!”

By Lachlan Commins, Patterson Houen & Commins, Solicitors, Sydney.

If you have ever been involved as the vendor or purchaser in a sale of business contract, most likely you have come across something known as the ‘Restraint of Trade’ (otherwise referred to as a ‘limitation’ or ‘restriction’ on competition or the right to trade). For instance, Clause 17 of the New South Wales Law Society’s standard contract for the sale of business (2004 edition) is entitled “Restriction on vendor’s competition”. Similar clauses are contained in the standard forms in other states.

Redundancies in Fiji – A Snapshot

By Armish Pal, AP Legal, Lawyers, Fiji

Redundancies are part of the modern day business and in Fiji it is subject to legislative oversight. Redundancies in Fiji are governed by the Employment Relations Act (“the Act”) which is also the country’s principle legislation on employment law. The statutory processes set out under the Act are relatively simple however employers have fallen foul on the requirements at times.

Can a statutory demand be challenged

By Richard Cowen, Tucker & Cowen, Lawyers, Brisbane.

Following on from our first article titled “What you need to know about Statutory Demands”, this article explains the circumstances in which a statutory demand can be set aside.

What you need to know about divorce

By Vanessa Balnaves, Johnston Withers, Lawyers, Adelaide.

The law about divorce and about family law generally, can be a bit of a mystery. So our Divorce Lawyers in Adelaide have prepared some simple FAQs to help navigate your way through.

Wills, inheritance and estate disputes

By Peter Nevin, Taylor Smart Lawyers and Notaries, Lawyers, Perth.

For many years, the law has taken the view that a person’s assets are generally theirs to dispose of when they die, in any way that they choose. It doesn’t take too much effort to imagine how this can lead to severe hardship for those left behind. For example, the death of a breadwinner could leave their spouse/partner and children destitute, if that breadwinner bequeaths their assets to a relative (or even a stranger) in their will.

SMSF and the importance of a will and binding nomination

By Ian Gath, McKinley Plowman, Accountants, Perth.

Recently I was presented with a single member superannuation fund and the member had recently died. The deceased member had done everything right, had a will and a binding death benefit nomination (BDBN) and reviewed them recently before his death, or at least he thought he done everything right.

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