[Webinar] The New Unfair Contracts Terms: What it means for your business

From 9 November 2023, the amended Unfair Contract Terms Regime is in effect.

 It is crucial for Australian businesses and their legal teams to be fully aware of the potential risks involved.

The consequences of non-compliance include hefty penalties and increased exposure to legal disputes.

Special Counsel Robert Shepley has created the Corporate Counsel’s Guide to the Unfair Contract Terms Regime to help legal teams ensure that their businesses are protected from the risks of unfair terms, ultimately safeguarding their commercial interests.

Download the Corporate Counsel’s Guide to the Unfair Contract Terms Regime

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The current market is challenging and the effects on businesses from COVID are still playing out.

In a recent video, Managing Director Karl Hill provides valuable insights into the market conditions that our clients are experiencing, sharing not only an overview of trends we are seeing in our areas of specialisation, industry trends and recent regulatory changes, but also touching on some of the key matters we are working on.

Topics covered in this video include:

• Banking & Finance
• Shareholder & Partnership Disputes
• Insolvency & Restructuring
• Trade Credit & Debt Recovery
• Changes to the Unfair Contract Terms Regime

With the introduction of Unfair Contract Terms Regime on November 9th, it is more important than ever for creditors to ensure that their Credit Documentation and Terms of Trade are compliant with existing laws – as failure to do so can now result in your business being exposed to not only increased legal disputes but also new punitive penalties.

In this article, we’ll discuss what these changes mean for you as a creditor and how best approach updating or reviewing the relevant documentation within your business.

This session was presented at a seminar titled “Unfair Contract Terms Legislation” organised jointly by Results Legal, Access Intell and BICB on Friday 14th July, 2023.

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Ready to get started?

We are offering a no cost review of your terms of trade or credit documentation.

To take advantage of this offer, upload your documentation via our Unfair Contract Terms form.

We will perform a complimentary review of your terms and conditions of trade and any other standard

The High Court delivered two judgments on 8 February 2023 to bring about the most significant development to the unfair preference laws and ended many years of uncertainty in relation to the defence of set-off and the application of the running account principle.

For many years, there has been heated debate as to whether:

1. 1. set-off is available as a defence to an unfair preference claim; and
   2. the “peak-indebtedness rule” is part of the law in Australia.

The High Court decisions of Metal Manufactures Pty Limited v Morton [2023] HCA 1 (Morton) and Bryant v Badenoch Integrated Logging

As a proud sponsor of Women in Credit (WINC), we invite you to the first WINC Webinar for 2023, celebrating International Women’s Day on Wednesday, 8th March.

Join speaker Rowena Millward – global business leader and best-selling author of “Uncomfortable Growth – Own Your Reinvention” as she shares four questions to move you from stuck to significance.

If you’re not a member of AICM, we invite you to register and attend as our guest using the code: ResultsWeb at checkout to receive complimentary registration.

Four Questions to Move from Stuck to Significance

Join speaker Rowena Millward – global business leader

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.

Litigation funding is a little used tool that can yield big benefits for unsecured creditors.

If employed strategically by creditors, litigation funding can enable the creditor to seek a priority payment, which may result in a significant recovery.

Illegal phoenix activity has become an increasingly common problem for trade creditors. Well advised directors are regularly walking away from company liabilities, only to recommence trading under a new company name.