What is positive credit reporting and does it matter? From 1 July 2018 the major banks (and any other authorised deposit taking institutions (ADI’s) with assets of at least $100 billion) will be required to supply to credit reporting bodies (CRBs) both negative and...
There was much media attention given recently to a decision of Australia’s High Court involving bank fees charged by the ANZ Bank, Andrews v Australian & New Zealand Banking Group Limited (‘the Bank case”). The main reason for the publicity was that the Court’s...
Financiers worried about the breadth of the linked credit provider provisions (in section 278) of the Australian Consumer Law (“ACL”) (formerly section 73 of the Trade Practices Act (“TPA”)) can take some comfort from the recent decision of the Full Federal Court of...
Business borrowers have once again been reminded (if they needed reminding) that, should they go into default under their banking facilities they are entirely at the bank’s mercy. The lender has virtually a free hand in deciding whether it sells the secured property...
More pressure on financiers – the demise of the ‘Insolvency’ event of default From July 2018, amendments to the Corporations Act commence which significantly limit the ability of financiers to rely on the occurrence of a traditional ‘insolvency event’ to terminate a...
