JHK Legal Commerical Articles

The quick guide to the duties, powers, and liabilities of being a trustee

Posted By Belinda Pinnow on May 25, 2017
The quick guide to the duties, powers, and liabilities of being a trustee

So, you’ve just been appointed as a trustee – congratulations. It’s just like being a director of a corporation right? Not quite.

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What is the process of issuing a notice under the Subcontractors’ Charges Act 1974 (Qld)?

Posted By Aleksandra Symenovych on May 15, 2017
What is the process of issuing a notice under the Subcontractors’ Charges Act 1974 (Qld)?

A Form 1 Notice of Claim of Charge and Form 2 Notice to Contractor of Claim of Charge Being Given (“the Notices”) are often issued in circumstances where the contractor is experiencing financial difficulties. The construction industry is the second highest industry in number of external administrations between December 2015 and September 2016, at 1530 companies.

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Duties of Directors

Posted By Aamena Hussein on May 3, 2017
Duties of Directors

Being a director of a company comes with certain legal duties and responsibilities. These are often confusing and can catch directors off guard when they are unaware of their obligations. Below, we explain and simplify the main responsibilities of a director.

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Oppression Remedies for Minority Shareholders

Posted By Pinar Acay on March 28, 2017
Oppression Remedies for Minority Shareholders

  All, too, will bear in mind this sacred principle, that though the will of the majority is in all cases to prevail, that will to be rightful must be reasonable; that the minority possess their equal rights, which equal law must protect, and to violate would be oppression. Thomas Jefferson First Inaugural Address, 4…

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AirBnB leaves a tenant AirBnBust

Posted By Clinton Bothma on March 23, 2017
AirBnB leaves a tenant AirBnBust

Landlords who do not want their residential properties used for short-term stays have recently been given the upper hand when the AirBnB ambitions of a couple of unlucky punters were swiftly put on ice in the recent decision of Swan v Ueker [2016] VSC 313 from the Supreme Court of Victoria. The what The respondents…

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How powerful is the Australian Taxation Office? Very, according to Directors Penalty Notices!

Posted By Reem Nassef on March 21, 2017
How powerful is the Australian Taxation Office? Very, according to Directors Penalty Notices!

A Directors Penalty Notice (DPN) is the Australian Taxation Office’s (ATO) response to non-compliant companies, where directors fail to arrange the payment of company taxes and employee superannuation. After years of cracking down on companies who repeatedly fail to meet their reporting obligations, defaulting on payment arrangements or experiencing escalating debt with no real prospects of reducing liabilities and most importantly those who revert to phoenix activities, legislation has enabled the ATO to recoup and sanction directors.

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Case Summary – Sanderson As Liquidator Of Sakr Nominees Pty Ltd (In Liquidation) V Sakr [2017] NSWCA 38

Posted By Sarah Jones on March 15, 2017
Case Summary – Sanderson As Liquidator Of Sakr Nominees Pty Ltd (In Liquidation) V Sakr [2017] NSWCA 38

The Court of Appeal has recently handed down a decisive and ground-breaking judgment in the case of Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liquidation) v Sakr [2017] NSWCA 38 with respect to liquidator remuneration.

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What happens when you go bankrupt?

Posted By Patrick Hanrahan on March 9, 2017
What happens when you go bankrupt?

In today’s volatile economy, where increasing financial pressures are being faced by Australian businesses, personal bankruptcy appointments continue to rise. Often, the financial struggle in ensuring that all debts are paid to creditors can be a tough and gruelling process with unsuccessful results. What follows is usually the appointment of a bankruptcy trustee to the debtor whether voluntarily or as sought by a creditor. If you find yourself in this predicament, then it is important that you understand the implications of being bankrupt including some of the limitations that will be placed on you whilst bankrupt.

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Everything a Small Business Needs to know about Personal Guarantees

Posted By Hayley Tibbie on February 14, 2017
Everything a Small Business Needs to know about Personal Guarantees

A personal guarantee is a written promise to guarantee the liability of one party for the debts of another party. Commonly, personal guarantees are given by directors and shareholders of companies to personally guarantee the payment of money or obligations on behalf of their company.

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Tracing: A remedial process to capture an unfaithful trustee

Posted By Paul Scagliotti on January 19, 2017
Tracing: A remedial process to capture an unfaithful trustee

Tracing is a complex and often misunderstood area of trust and property law. It is predicated on retrospective use of misapplied trust funds. It potentially allows the beneficiary of a trust to get trust funds back when the situation seems bleak.

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Insolvency

Insolvency

Worried you might lose your business, your livelihood or your home?

If you are the owner or director of a company that cannot meet its financial obligations you might be trading insolvent and you are right to be very concerned.

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What Is Insolvency?

What Is Insolvency?

Insolvency is a term that applies to both companies and to individuals who can no longer meet their financial obligations, however personal insolvency (also known as bankruptcy) only applies to individuals.

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The 7 mistakes people make when they hire an insolvency lawyer

The 7 mistakes people make when they hire an insolvency lawyer

If you’re not sure whether you need to hire an insolvency lawyer or not…it probably means you do.

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