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Keeping On Top of Corporate Changes Down Under

With effect from the commencement of the new financial year in July 2017, the Australian federal and state governments implemented a range of legal and regulatory changes, which could affect entities undertaking or contemplating investments in Australian land, companies or businesses or who are seeking to establish operations in Australia. We have summarised four of these key changes below.

Australia, Corporate Finance/M&A, Immigration, Insolvency & Restructuring, Tax, Squire Patton Boggs, Foreign direct investment, Safe harbor (law)
Don’t flip out! Government's proposals on ipso facto clauses could void securitisation flip clauses

The Australian Government is proposing to constrain certain "ipso facto" clauses ‒ a move which could make flip clauses void. The closing date for submissions is Friday 27 May 2016.

How would changes to ipso facto clauses affect securitisation?

Australia, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Clayton Utz
Twenty days and twenty nights, I was wrong and the lawyers were right, all along: register your security interest on the PPS register within 20 business days!

Case Note: Re Cardinia Nominees Pty Ltd [2013] NSWSC 32

Facts of the case

Cardinia Nominees Pty Ltd (Cardinia) agreed to lend Inika Pty Ltd (Inika) the sum of $750,000, in exchange for the issue of convertible bonds to Cardinia. The loan was secured by a charge in favour of Cardinia over the whole of Inika’s assets.

Australia, New South Wales, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Corporations Act 2001 (Australia)