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Results Legal specialises in credit-based litigation, including insolvency law and commercial disputes.
Our team also prepares market-leading credit agreements and trading agreements that include the relevant terms to best protect trade creditor’s interests.
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Results Legal specialises in: Debt Recovery, Insolvency Law, Commercial Disputes, Commercial Contracts, Business Separation & Shareholder Disputes.
Businesspeople will be familiar with the process of implementing shareholders agreements to govern the relationship between shareholders to set them up for a successful business relationship. These agreements should be customised to ensure they are fit for purpose.
An often overlooked but important consideration for businesses relates to the intellectual property (IP) being created, including securing how the company owns it and having a strategy in place for how it is to be protected and commercialised.
When it comes to written agreements in a commercial context, attention is often paid to the drafting and scope of terms. However, evidence suggests, that often, “incorporation” of those terms is key. In other words, the scope of the terms has no weight if they are not properly incorporated into the contract.
On 1 January 2021, new insolvency reforms to support small business commenced and COVID-19 temporary insolvency protections came to an end.
This is good news for creditors who can now more easily proceed with creditor’s statutory demands in the usual course as well as bankruptcy notices, provided company debtors have not applied for temporary relief.
On 1 January 2019, the Modern Slavery Act 2018 (Cth) (Act) commenced and introduced a new statutory requirement for eligible companies to assess and report on the risks of modern slavery identified in their operations and supply chains (as well as the steps taken to address those risks).
Modern slavery occurs in circumstances where coercion, threats or deception are used to exploit or undermine an individual’s freedoms. Human trafficking, slavery, servitude, debt bondage and forced marriage or labour are all examples of modern slavery.
The Treasury has provided further insight this month into the operation of the proposed reforms that will see the most significant changes to the Australian insolvency framework in almost 30 years.
With a wave of insolvencies expected in 2021 as the measures introduced by the Government to combat the economic effects of COVID-19 come to an end, it is important that businesses, creditors and advisors are aware of the impact of the small business insolvency reforms.
The Federal Government has enacted the Payment Times Reporting Act 2020 (Cth) (Act), which is set to commence on 1 January 2021.
The Act imposes obligations on large businesses and government enterprises with over $100 million in annual turnover to publish information on their small business payment times and practices.
Creditors are often faced with disputes by guarantors over the validity and enforceability of a guarantee following a failure by the principal to pay a debt.
Poorly drafted and ambiguous personal guarantees can give rise to guarantors being wrongfully released from liabilities, or alternatively documents being signed which are unenforceable and ultimately worthless.
After pursuing a long and hard fought Supreme Court claim, our client obtained judgment for an amount of $1.64 million. Shortly thereafter, the defendant company was placed into voluntary administration by its director.
Following the first meeting of creditors, it became apparent that related parties had sufficient voting power in both number and value to successfully put up a deed of company arrangement.
In 2014, Results Legal was instructed by the trustee in Bankruptcy of former horse racing and breeding magnate, Lee James Fleming, who had previously run a horse stud in southern Victoria that was home to Bel Esprit – the sire of undefeated mare Black Caviar.
