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Stay on adjudicated amount prevents DSD ‘rising from the ashes’

  TALKING POINTS: Contractor’s risk of insolvency Implications on adjudication determination under the Security of Payment Act NSW (SOP Act) Illegal phoenix activity Greenwood Futures v DSD Builders (No 2) [2018] NSWSC 1471 In Greenwood Futures v DSD Builders (No 2), the NSW Supreme Court granted a continuation of stay on an adjudicated amount in …
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A developer’s liability arising from an unsigned contract

  On Appeal (3 August 2018), it was found that builders and persons that are considered to be  developers can be equally held liable for defects, under the New South Wales Home Building Act 1989 (HBA) in breach of the statutory warranties.   FACTS AT FIRST INSTANCE Mr and Mrs King (Kings) owned a warehouse …
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Ipso facto clauses on insolvency

  On 12 September 2017, reforms to Australia’s corporate insolvency were passed by both Houses of the Australian Federal Parliament, which includes:[1] a) a safe harbour for company directors from personal liability for companies trading insolvent; and b) a stay on the enforcement of ipso facto clauses during a period of restructuring of a company. …
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