Are your lender clients secure?

31 August, 2018

Are your lender clients secure? Failing to put in place proper security for lender clients was one of the most costly mistakes in our mortgage claims in the last policy year where the total mortgage related claims accounted for 19 per cent of the cost of all claims. We have recently updated our Keep managing […]

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Time to review your precedent letters

24 August, 2018

Do you know what your purchaser precedent letter says? When was the last time you thoroughly read and thought about your purchaser precedent letter? In a recent claim the purchaser clients discovered five years after they settled on their property that part of their house extended beyond the boundary of the land onto the road […]

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What did they expect?

17 August, 2018

When sued by a client, the reaction from some practitioners is ‘What did they expect for what I charged?’ However, a court will give little regard to your fees when determining the extent of your retainer and whether you discharged your duty. You need to be clear about the scope of your retainer, irrespective of […]

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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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