Articles

Posted Aug 28, 2015 Can you bank on it?

The question of whether a Principal has the right to call on a contractor’s bank guarantee for failure to perform was recently considered in the Court of Appeal of Victoria. Initially, the Supreme Court rejected the entitlement of the Principal to call on bank guarantees based on a strict construction of the contract. This position […]

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Posted Jul 23, 2015 Impact of Technology on Conveyancing in NSW

Kreisson Legal is committed to enabling efficient and smooth transactions. Driven by advancements in technology, significant changes are taking place in the world of conveyancing. Background On 17 November 2014 the new Contract for Sale and Purchase of Land was released. Whilst the majority of the standard clauses remain unchanged, the most significant change was […]

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Posted Apr 14, 2015 Important Note for all companies in the Construction Industry and Owners, Owners Corporations, Strata-Managers, Property Investors and Owner-Builders

Commencement of Recent Amendments to the Home Building Act 1989 (NSW) (“the HBA”) Following extensive consultation with a number of stakeholders in the construction and related industry (from 2012), the Home Building Amendment Act 2014 makes no less than 50 changes to the HBA of which all stakeholders need to be aware. From 15 January […]

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Posted Apr 14, 2015 News Alert: Retention Money Trust Scheme to commence from 1 May 2015

The Building and Construction Industry Security of Payment Amendment (Retention Money Trust Account) Regulation 2015 (NSW) The Building and Construction Industry Security of Payment Amendment (Retention Money Trust Account) Regulation 2015 (NSW) (the retention money trust account regulations) is set to commence in New South Wales from 1 May 2015 (the retention money trust scheme). […]

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Posted Apr 14, 2015 NSW Supreme Court reviews Reference Date for Post Termination Security of Payment Act (SOPA) claims and the meaning of “Construction Work”

The facts Patrick Stevedores and McConnell Dowell entered into a construction contract on 13 March 2014, which was terminated for convenience by Patrick Stevedores on 24 April 2014. On 30 June 2014, McConnell Dowell served a payment claim on Patrick Stevedores. There was an arithmetic correction provided on 1 July 2014 for the sum of […]

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