Privacy Laws and Small Business

We are living in the era of “Big Data”. Personal information is the new currency. Customer and user data comprise a valuable asset for business and government. Government access to personal information is ultimately about power and control. For business, the value of personal information lies in the potential for maximising efficiencies, improving productivity and… Read More

NCAT article

The effect of State tribunals on commercial finance contracts NCAT, QCAT, VCAT and equivalents in other States are acronyms for the respective State-based Civil & Administrative Tribunals. Their basic purpose is to enable individuals and small businesses to pursue resolution of lesser legal disputes away from the formalities and costs of the law courts. The… Read More

Linked Credit Providers

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 Australia in Quikfund (Australia) Pty Ltd v Prosperity Group International Pty Limited… Read More

Guarantees and secured loans

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 first, or takes the more likely course of suing on a personal… Read More

Finance contracts and insolvency reforms

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 credit contract. The new laws are informally known as the ipso facto clause… Read More