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Company directors diverting business opportunities and fiduciary duty
Company directors diverting business opportunities and fiduciary duty A director’s position in a company is one of power and trust. As a consequence, a director has a duty to act in good faith and in the best interests of the company. A director’s obligations are determined by statute under the Corporations Act 2001 (Cth) and by his […]
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Understanding easements in your property contract
Understanding easements in your property contract Identifying and understanding easements in a property transaction is an important part of the conveyancing process. Vendors are generally required to disclose all easements affecting the land they propose to sell in a property contract, and buyers should ensure they are aware of the impact an easement will have […]
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Buying property off the plan in Victoria – sunset clauses
Buying property off the plan in Victoria – sunset clauses Provisions of the Sale of Land Amendment Act 2019 (Vic) now prevent vendors / developers from relying on sunset clauses in off-the-plan contracts to purposely delay residential building projects to the detriment of the buyer. Vendors must obtain written consent from a purchaser, or alternatively […]
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Alternative Dispute Resolution – What is it and how can it benefit me?
Litigation can be a costly and time consuming process and parties are increasingly seeking alternative forms of resolving disputes. This article provides an overview of the main types of alternative dispute resolution (ADR) and their respective benefits and limitations. What is ADR? The term ADR is used to describe dispute resolution processes that do […]
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Appointing a Solicitor as Executor of your Will
An executor is a person who will carry out the instructions in your Will once you have passed away. In general, you can appoint any person as executor of your Will, this includes solicitors. It is not uncommon for a solicitor to be appointed executor of a Will. The advantage of having a solicitor […]
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Removing a nominee director
When forming a company, certain documents are prepared which will be pivotal to its existence. Once registered, the replaceable rules contained in the Corporations Act 2001 (Cth) may be adopted or a constitution specially prepared to govern the operations of the company A shareholder agreement may also be used which creates a private contract […]
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Buying and selling property under an option agreement
Buying and selling real estate via an ‘option deed’ has gained popularity over the past, particularly in a growing property development market. Option deeds may be used for the acquisition of a site for future development and can be drafted to accommodate various circumstances. The flexibility of an option agreement may be ideal for […]
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Purchasing a Commercial Property: Technical Due Diligence
Purchasing a commercial property can be a significant financial investment for a buyer. In order to protect his or her potential investment, a buyer should take steps to investigate the risks of acquiring a commercial property and how to reduce those risks where possible. An important step is to gather as much information as […]
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Common misconceptions about estate planning
An estate plan involves more than signing a Will and leaving it in a safe place. An effective estate plan requires consideration of several matters and ongoing review to ensure it reflects your testamentary wishes and covers unexpected events. In this article we look at some misconceptions about Wills and estate planning and dispel […]
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UPDATE – Victorian Commercial Tenancy Rent Relief Regulations – Are you eligible?
This update is in addition to our recent blogs about the Victorian Commercial Tenancy Rent Relief (CTRS). See below links to our previous updates: https://businesslawyersmelbourne.com.au/new-covid-commercial-tenancy-rent-relief-scheme-has-been-announced-after-victorian-lockdown-5-0/ https://businesslawyersmelbourne.com.au/update-victorian-commercial-tenancy-rent-relief-post-lockdown-5-0/ Earlier this week, the Victorian Government released the Commercial Tenancy Relief Scheme Regulations 2021 (the Regulations). The Regulations are 74 pages long and are complicated. Here’s a summary: Eligibility […]
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