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Articles by Tim L'Estrange
Amendments To Australia's Modern Slavery Act Anticipated Following Statutory Review - Antitrust, EU Competition - Australia
In Short The Situation:In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act").
Amendments to Australia's Modern Slavery Act Anticipated Following Statutory Review | JD Supra
In Short The Situation:In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act").
Amendments to Australia's Modern Slavery Act Anticipated Following Statutory Review
In Short The Situation: In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act").
Stick to the Statute: No "Peaking" Around in Australia | JD Supra
In Short The Situation: The High Court of Australia has confirmed in Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2 that the "peak indebtedness rule" is no longer available to liquidators when assessing the value of running accounts in unfair preference claims.
Australian High Court: No Statutory Set-Off Against Unfair Preference Claims | JD Supra
In Short The Situation: Historically, creditors pursued by liquidators under the unfair preference regime could rely on a statutory set-off as a defence to the claim, reducing or eliminating their liability to repay what would otherwise be preference payments, on the basis that the liability for the unfair preference payment formed part of a running account between the creditor and the company.
Australian High Court: No Statutory Set-Off Against Unfair Preference Claims
In Short The Situation: Historically, creditors pursued by liquidators under the unfair preference regime could rely on a statutory set-off as a defence to the claim, reducing or eliminating their liability to repay what would otherwise be preference payments, on the basis that the liability for the unfair preference payment formed part of a running account between the creditor and the company.
Stick to the Statute: No "Peaking" Around in Australia
In Short The Situation: The High Court of Australia has confirmed in Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2 that the "peak indebtedness rule" is no longer available to liquidators when assessing the value of running accounts in unfair preference claims.
Australian Financial Services Regulatory Update | Q3-Q4 2022
This edition of the Update covers: Recent legal and regulatory developments, including guidance to APRA-regulated entities following the cyber attacks on Medibank and Optus, the release of the inaugural Climate Vulnerability Assessment, the extension of the CDR to non-bank lenders, ASIC guidance on the effectiveness of target market determinations and the new reportable situations regime, and the extension of relief for foreign financial services providers; Recent financial services...
Australia: Solicitors' Duties to Witnesses in Civil Cases Who May Be Exposed to Criminal Charges or Other Penalties | JD Supra
October 20, 2022 John Cooper, Steven Fleming, Tim L'Estrange, Daniel Moloney, Holly Sara Jones Day + Follow x Following x Following - Unfollow Contact To embed, copy and paste the code into your website or blog: In Short The Situation: The Victorian Court of Appeal in Australia has delivered a decision with guidance to lawyers on their duties when dealing with witnesses in civil cases where there is a risk that the witnesses' evidence might give rise to a subsequent criminal prosecution.
Australian Corporate Conduct Regulator Releases Guidance on Greenwashing Risks | JD Supra
ASIC has released an Information Sheet (INFO 271) to provide guidance to superannuation and managed funds on how to avoid greenwashing when offering or promoting sustainability-related products, e.g., funds and other financial products where investments are made based on environmental or social criteria, amongst other factors.
Australian Corporate Conduct Regulator Releases Guidance On Greenwashing Risks
In Short The Situation: The Australian Securities and Investments Commission ("ASIC") has released guidance to superannuation and managed funds as to how to avoid the risk of greenwashing when promoting sustainability-related products.
Australian Financial Services Regulatory Update - June 2022 | JD Supra
June 10, 2022 Jennifer Chambers, Joanne Dwyer, Tim L'Estrange, Daniel Moloney, Holly Sara, Evan Sylwestrzak, Isaac West, Lucas Wilk Jones Day + Follow x Following x Following - Unfollow Contact To embed, copy and paste the code into your website or blog: This edition of the Update covers: Recent legal and regulatory developments, including the release of regulatory guidance on crypto asset-related investment products, the imposition of additional licence conditions on the ASX following the...
The Australian Parliament Enacts Magnitsky-Style Laws
To print this article, all you need is to be registered or login on Mondaq.com. In Short The Situation: On 8 December 2021, the Autonomous Sanctions Amendment (Magnitsky-style and Other Thematic Sanctions) Act 2021 (Cth) ("Amendment Act") commenced after being passed by both Houses of Parliament in late November 2021.
The Australian Parliament Enacts Magnitsky-style Laws | JD Supra
In Short The Situation: On 8 December 2021, the Autonomous Sanctions Amendment (Magnitsky-style and Other Thematic Sanctions) Act 2021 (Cth) ("Amendment Act") commenced after being passed by both Houses of Parliament in late November 2021. The Amendment Act will operate to expand Australia's existing country-specific autonomous sanctions regime to allow sanctions targeted at thematic categories of conduct, including human rights violations, malicious cyber activity and serious corruption.
Unfair Preference Claims
Australia: Set Aside: Australian Creditors Unable To Rely On Statutory Set-Offs To Defend Unfair Preference Claims 01 February 2022 by Roger Dobson , Katie Higgins , Tim L'Estrange , Evan J. Sylwestrzak , Lucas Wilk and Maria Yiasemides Jones Day Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
The Return Of ASIC Court Enforceable Undertakings: Devil In The Detail
To print this article, all you need is to be registered or login on Mondaq.com. In Short The Situation: On 22 November 2021, the Australian Securities and Investments Commission ("ASIC") released an updated Regulatory Guide 100: Court Enforceable Undertakings ("RG 100") for the first time in seven years.
The Return of ASIC Court Enforceable Undertakings: Devil in the Detail | JD Supra
In Short The Situation: On 22 November 2021, the Australian Securities and Investments Commission ("ASIC") released an updated Regulatory Guide 100: Court Enforceable Undertakings ("RG 100") for the first time in seven years. ASIC's updated RG 100 sets out ASIC's revised approach to court enforceable undertakings ("CEUs"), which contain a set of undertakings offered to, and accepted by, ASIC and are enforceable in a court.
Set Aside: Australian Creditors Unable to Rely on Statutory Set-Offs to Defend Unfair Preference Claims | JD Supra
In Short The Situation: In the recent decision of Morton as Liquidator of MJ Woodman Electrical Contractors Pty Ltd v Metal Manufacturers Pty Limited [2021] FCAFC 228, the Full Court of the Federal Court of Australia considered the availability of mutual set-off provisions in s 553C the Corporations Act 2001 (Cth) as a defence to unfair preference claims.
Australian Court Grants Shareholders Access to Bank's Internal Documents to Assess Alignment With Climate Change Commitments | JD Supra
In a landmark development, shareholders of a major Australian bank have been granted access to internal documents that record the bank's consideration of the environmental and social impacts of oil and gas projects funded by the bank.
Climate Change Class Action Relating to Australian Sovereign Bonds Permitted to Proceed | JD Supra
In Short The Situation: There has been a proliferation of climate change-related litigation against Australian government entities over recent years. The majority of these claims involve challenges to administrative decisions with respect to environmental approvals in emissions intensive industries.
Australian Financial Services Regulatory Update
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Australian Conservation Group Challenges EPA's Decision To Renew Coal-Fired Power Stations' Licences
Australia: Australian Conservation Group Challenges EPA's Decision To Renew Coal-Fired Power Stations' Licences 08 October 2021 by Jennifer L. Chambers , Mark Crean , John Emmerig , Tim L'Estrange , Darren Murphy , Leah Ratcliff , Isaac C. West , Tony Wassaf , Patrick Clark and Charlie Guerit Jones Day Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
Australia's High Court Confirms Facebook Page
To print this article, all you need is to be registered or login on Mondaq.com. In Short The Situation: The application of existing principles of defamation law to social media and other online platforms continues to pique the interest of online platform providers and users alike. The Australian courts have recently considered who can be held responsible for defamatory content posted online, particularly in the social media context.
Australia's High Court Confirms Facebook Page "Owner" Responsible For Defamatory Comments by Third Parties | JD Supra
In Short The Situation: The application of existing principles of defamation law to social media and other online platforms continues to pique the interest of online platform providers and users alike. The Australian courts have recently considered who can be held responsible for defamatory content posted online, particularly in the social media context.
The Full Court Of The Federal Court Of Australia Affirms The Paramountcy Of The Parties' Agreement In International Arbitration
To print this article, all you need is to be registered or login on Mondaq.com. The Situation: On 25 June 2021, the Full Court of the Federal Court in Hub St Equipment Pty Ltd v Energy City Qatar Holding Company [2021] FCAFC 116 (Hub v Energy City Qatar) refused to uphold the enforcement of an arbitral award on the basis that the tribunal had not been constituted in the manner prescribed by the parties' agreement to arbitrate.
The Full Court of the Federal Court of Australia Affirms the Paramountcy of the Parties' Agreement in International Arbitration
The Situation: On 25 June 2021, the Full Court of the Federal Court in Hub St Equipment Pty Ltd v Energy City Qatar Holding Company [2021] FCAFC 116 (Hub v Energy City Qatar) refused to uphold the enforcement of an arbitral award on the basis that the tribunal had not been constituted in the manner prescribed by the parties' agreement to arbitrate.
The Full Court of the Federal Court of Australia Affirms the Paramountcy of the Parties' Agreement in International Arbitration | JD Supra
The Situation: On 25 June 2021, the Full Court of the Federal Court in Hub St Equipment Pty Ltd v Energy City Qatar Holding Company [2021] FCAFC 116 (Hub v Energy City Qatar) refused to uphold the enforcement of an arbitral award on the basis that the tribunal had not been constituted in the manner prescribed by the parties' agreement to arbitrate.
Federal Court of Australia Rules That the Government Owes Duty of Care to Australian Youth on Climate Change | JD Supra
In Short The Situation: In a landmark judgment, on 27 May 2021, the Federal Court of Australia ruled in Sharma v Minister for the Environment [2021] FCA 560 (Sharma) that, when deciding whether or not to grant approval to a coal mine development, the Federal Minister for the Environment owed a duty of care to all children under the age of 18 who ordinarily reside in Australia to avoid causing them personal injury as a consequence of increased carbon dioxide emissions.
Australian Financial Services Regulatory Update - May 2021 | JD Supra
This edition of the Update covers: Recent legal and regulatory developments, including the release of ASIC's immunity policy for market misconduct offences, a FATF consultation on proliferation of financial risk and digital currency, and ASIC and APRA's focus on the management of cyber risk and climate risk; A recent decision of the Full Court of the Federal Court of Australia upholding an order compelling compliance with a s 33 notice by an authorised representative of an AFS licensee; The...
Australian Financial Services Regulatory Update
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Australian Financial Services Regulatory Update
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ASIC Doubles Down on Civil Penalty Proceedings Against Industry Superannuation Funds | Lexology
Australia March 12 2021 REST and Statewide Superannuation become the first industry superannuation funds to be caught in the crosshairs of ASIC's "why not litigate" approach to enforcement.
Australian Financial Services Regulatory Update - February 2021 | JD Supra
Key Legal and Regulatory Developments Capital and Prudential Requirements APRA Releases its Policy and Supervision Priorities for 2021 On 1 February, APRA released its policy and supervision priorities for the coming year.
Australian Government to Start Tracking Corporate Commitments to Reduce Carbon Emissions | Lexology
Australia
December 17 2020 Compliance and disclosure issues continue to grow for Australian companies, due to heightened scrutiny by the government as well as investors. In recent years, the boards and senior management of Australia's largest companies have increasingly responded to investor demands to make commitments to reduce emissions.
Accountability for Cybersecurity in Australia—A Major Regulatory and Litigation Risk | JD Supra
There are showers, there are squalls, and there are storms. The growth in cybersecurity attacks in Australia, as in much of the world, is a storm and Australian companies need to batten down the hatches. In the period from 1 July 2019 to 30 June 2020 alone, the Australian Cyber Security Centre ("ACSC") responded to 2,266 cybersecurity incidents at a rate of almost six per day and the ACSC expects the true volume of malicious activity to be much higher.
Accountability For Cybersecurity In Australia—A Major Regulatory And Litigation Risk - Technology - Australia
Australia: Accountability For Cybersecurity In Australia—A Major Regulatory And Litigation Risk 08 December 2020 by Tim L'Estrange , Adam Salter and Lisa M. Ropple Jones Day Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com. There are showers, there are squalls, and there are storms. The growth in cybersecurity attacks in Australia, as in much of the world, is a storm and Australian companies need to batten down the hatches.
ASIC Adopts Assertive Approach to Information-Gathering Powers and Challenging Privilege Claims | Lexology
Australia
December 5 2020 In Short The Situation: Australia's corporate regulator, the Australian Securities and Investments Commission ("ASIC"), enjoys broad statutory information-gathering powers to require the production of documents and examination of persons who ASIC reasonably believes can provide relevant information. ASIC's powers to compel the production of information are subject to a person's right to claim legal professional privilege in appropriate circumstances.
Preparing For Post-Pandemic Regulatory Examinations – A Global Perspective - Coronavirus (COVID-19) - United States
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Australia Financial Services Industry Royal Commission Leads To Class Actions Boom
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ASIC v Mitchell: Another Reason For ASIC Not To Litigate
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Australian Financial Services Regulatory Update
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The Future Direction Of Corporate Criminal Responsibility In Australia - Criminal Law - Australia
To print this article, all you need is to be registered or login on Mondaq.com. INTRODUCTION In recent years, there has been a growing focus by the Australian Government on corporate misconduct following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry ("Financial Services Royal Commission"), which published its Final Report in February 2019.
New Insolvency Processes For Small Australian Businesses
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Australian Financial Services Regulatory Update | JD Supra
This edition of the Update addresses: Recent legal and regulatory developments which relate to licencing and regulatory relief, consumer protection, financial markets, anti-money laundering and capital and prudential requirements for authorised deposit-taking institutions ("ADIs"); The recent decision of Federal Court in Australian Securities and Investments Commission v Hutchison [2020] FCA 978, which affirmed that the phrase "in relation to" a financial service is to be construed widely;...
Another Reason for ASIC Not to Litigate | JD Supra
In Short The Situation: Australia's corporate regulator, the Australian Securities and Investments Commission ("ASIC") brought proceedings against two former directors of Tennis Australia ("TA") alleging that they engaged in numerous contraventions of their duties under the Corporations Act 2001 (Cth) in respect of their conduct during negotiations between TA and Seven Network Holdings (Seven) for a renewal of an agreement for the domestic broadcast rights to tennis tournaments.
Australia Financial Services Industry Royal Commission Leads to Class Actions Boom | JD Supra
Australia's landmark Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry that was conducted throughout 2018 and reported in early 2019 highlighted numerous examples of potential contraventions of the law. The Royal Commission has triggered not just legislative reform and regulatory actions, but also a boom in class action proceedings seeking to recover compensation for bank customers and shareholders alike.
Indemnity Arrangements For Directors And Officers: Implications Of ASIC v King
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Indemnity Arrangements for Directors and Officers: Implications of ASIC v King | Lexology
Australia
March 18 2020 In Short The Situation: The High Court of Australia has allowed an appeal brought by the Australian corporate regulator, confirming that the definition of 'officer' under Australia's corporations legislation includes any person "who has the capacity to affect significantly the corporation's financial standing", even in circumstances where the person does not occupy a named office in the corporation with recognised duties and rights attached to it.
What Is a Director to Do About "Culture"? | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
What Is a Director to Do About "Culture"? | Lexology
Australia
November 27 2019 In Short The Situation: Directors and executives are largely responsible for the culture of companies, and regulators are seeking to hold them accountable for misconduct that can be traced to poor culture. The Key Message: Culture can and should be assessed on a regular basis. In meeting their duties, directors should consider whether they need to have in place tools and systems that enable them to assess and monitor culture.
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