Articles

It has been conventional wisdom that a head contractor’s payment claim in NSW is invalid unless it is accompanied by a supporting statement. Those statements list all subcontractors on the project and confirms that each has been paid. However, some of NSW’s most senior judges, in a case called TFM Epping Land Pty Ltd v…

INTRODUCTION It is vital to ensure that payment schedules in the building, construction and engineering industries are as detailed and comprehensive as possible.  That is because under section 20(2B) of the Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act), a respondent to a payment claim cannot include in its adjudication response any reasons for withholding payment that were not included in its payment schedule.  In addition,…

Written by David Glinatsis and Johnathan Glinatsis    I. OVERVIEW  From 1 March 2021, Schedule 2 of the NSW Building and Construction Security of Payment Regulation 2020 will apply. This means that residential home builders in NSW will have access to the payment claim process under the NSW Security of Payment Act 1999 (SOPA) (the…

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…

INTRODUCTION When you are signing documents on behalf of a company, in order for the document to be enforceable, the document must be signed correctly and the person who signs the document must have authority to sign on behalf of the company. In Australia, the Corporations Act 2001 (‘the Act’) sets out the rules for…