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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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Separable Parts in Staged Development

The Strata Building Bond Scheme, which was introduced by the Strata Management Act 2015 (the Act), provides that in situations where the Act applies (See New strata law and building bond regime are set to commence), the developer must give a security (“building bond”) to the Secretary of the Department of Finance, Services and Innovation …
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Are you Guaranteeing an Indemnity?

Introduction It is common for a contractor to provide an indemnity and/or a guarantee to a principal under a construction contract. However, contractors must know that the two are fundamentally different. They should not take on additional obligations/risks than what is agreed between the parties under the construction contract. For ease of understanding, we shall …
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