New ipso facto regime has commenced

10 August, 2018

The amendments to the insolvency regime in the Corporations Act 2001 (Cwlth) to restrict the rights of parties to enforce ipso facto clauses in new contracts came into effect on 1 July 2018. These clauses typically allow a party to terminate or exercise other contractual rights if the counterparty enters into an insolvency. Under the […]

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Beware of bad cheque scams

3 August, 2018

LPLC has previously warned practitioners about bad cheque scams, also known as advance fee scams. These appear to still be alive and well. The scam typically involves a firm being asked by a new, typically foreign-based client to bank a cheque on the client’s behalf for a matter in the firm’s jurisdiction. The client then […]

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Confirm when discrete tasks are completed in general files

27 July, 2018

One risk of running ‘general files’ is failing to confirm in writing when your obligations in connection with discrete tasks are to be treated as concluded. If you fail to clarify this, you might remain ‘on risk’ for issues beyond the discrete task. In one claim, the practitioner acted for the owner of a nursing […]

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A bad plan

20 July, 2018

A critical issue for any purchaser of an ‘off the plan’ property is ensuring the actual property accords with what they intended to purchase. Therefore, when giving pre-contractual advice to purchasers, it is essential to identify any deficiencies in documentation that could hinder a proper assessment by the purchaser. In one claim, the practitioner was […]

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The trouble with DIY clients

13 July, 2018

Practitioners are finding that some clients are insisting on doing parts of litigation matters themselves, primarily to save legal costs. If you are prepared to accept a limited retainer, you need to manage the risks. In one claim, a practitioner acted on an appeal regarding a dispute over a debt. The client was self-represented at […]

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