You need to take the good with the bad

25 May, 2018

When acting in litigation, it is essential to take detailed instructions about any circumstances that weaken your client’s case in addition to those that support the case. In one claim, the practitioner acted for a claimant in a claim under Part IV of the Administration and Probate Act 1958 (Vic) against the estate of her […]

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Avoid the section 32 traps

18 May, 2018

Every year LPLC sees conveyancing claims where the cause of the claim is defective section 32 disclosure. To properly advise clients practitioners need to understand the vendor disclosure obligations in the Sale of Land Act 1962 (Vic). Reviewing relevant cases, attending seminars about conveyancing and reading relevant texts are other things practitioners can do to […]

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Risks for the bank of mum and dad

11 May, 2018

Practitioners asked to act in transactions where parents lend money to their children to help them buy a house should stop and think about the transaction. Who are they acting for? Who else could think the practitioner is looking after their interests? If you are acting for the child in the purchase of the property […]

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Key Risk Checklist: Sale of land – questions for the vendor

7 May, 2018

Sale of land – questions for the vendor   Instructions ☐  Please circle yes or no as applicable. ☐  Please provide the additional information as indicated e.g. a copy of your title(s). ☐  If you do not know the answer or are unable to provide the additional information please insert the words ‘not known’. ☐ […]

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Post mortem risk management

1 May, 2018

Good risk management includes analysing mistakes and learning from them. IWhat has a post mortem examination to do with risk management? A doctor conducting a post mortem thoroughly examines the deceased to try to determine the cause and manner of death. The results are also useful for research and educational purposes. Consider doing a post […]

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Avoiding superannuation claims

24 April, 2018

Introduction Every year LPLC sees claims involving superannuation funds. Claims sometimes arise because the practitioner does not have sufficient knowledge or experience with superannuation matters. Practitioners who regularly act in this area will agree that extensive expertise and understanding is required to properly advise clients and to have the best chance to avoid a claim. […]

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Risk video bite – Drafting

6 April, 2018

Presenter: Matthew Rose, Risk Manager, LPLC

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Conveyancing claims on the rise

1 April, 2018

What risk management practices are you doing to avoid a conveyancing claim? In 2016/17 LPLC received 127 conveyancing claims and notifications which represented approximately 30 per cent of all claims and notifications received that year. The cost is currently estimated to be in excess of $10 million. This represents an increase in both the number […]

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Risk video bite – Conveyancing

2 March, 2018

Presenter: Phillip Nolan, Risk Manager, LPLC

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Contractual rights to be unenforceable when linked to insolvency events

23 February, 2018

The insolvency regime in the Corporations Act 2001 (Cwlth) has been amended to restrict the rights of parties to enforce ipso facto clauses in new contracts from the 1 July 2018 unless the amending Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Act 2017 (Cwlth) is proclaimed earlier. These clauses typically allow a party to […]

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