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INTRODUCTION On 1 January 2021, the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 took effect. The Reforms introduced a new, simpler and cheaper process for debt restructuring of small businesses.   WHAT DOES IT MEAN FOR SMALL BUSINESSES? The new process allows eligible companies to continue trading in its ordinary way while a proposal for…

THE STATUTE OF LIMITATIONS Parliament makes laws by passing statutes. The Courts apply those laws to resolve claims. A statute law establishes the deadlines within which claims can be pursued in the Courts. For example, litigation to enforce contracts must be started within 6 years after a default. The legislation is designed to protect defendants…

If you missed MBA’s first webinar and presentation from our Special Counsel John Hodgkinson, look no further. John speaks about Builders Licence and gives valuable tips if you have had trouble in the past and helps point you in the right direction. Contact us For more information, please contact our lawyers David Glinatsis or John…

After an extensive review and consultation process which commenced in 2015; the NSW Government introduced the Building and Construction Industry Security of Payment Amendment Bill 2018 of 24 October 2018.  According to the second reading speech, the Bill seeks to increase cashflow and transparency  protections in the contracting chain and “to simplify and clarify the…

NSW is reforming security of payment laws which protect contractors and suppliers to construction projects. An amending Bill was introduced on 24 October 2018 into the NSW Parliament to promote cash flow and transparency in the contracting chain.  Progress claims The concept of a “reference date” will be removed from the legislation.  Progress claims may…