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Several proofs of debt were wrongly admitted or rejected; if correct, the company would not be put into liquidation.

The case highlights the need to ensure that an electronic signature has been affixed with the necessary authorisation,.

On Sunday 21 September ASIC took further emergency action in response to bans on short selling of stocks imposed by regulators in other global financial centres.

Recent amendments to the Consumer Credit Legislation Act will include changes to credit contracts and reverse mortgages.

ASIC releases guidance on new protections for small businesses against unfair lending terms in standard form contracts.

The legislative and regulatory pieces necessary for the Personal Property Securities (PPS) reforms to become operative are now nearly complete, with the reforms still scheduled to take effect in May 2011. Despite the passing of the necessary legislation and regulations, concerns still exist about a number of significant matters.

A party's ability to retain the guarantee pending a final outcome could turn on the relevant provisions of the contract.

Debts claimed in statutory demands must be due and payable to the creditor named in the statutory demand.

Step one in improving the health of a business balance sheet is undertaking a comprehensive review of the debtors ledger.

This update deals with "onerous property" and the issues involved when a trustee in bankruptcy disclaims onerous land, including the potential impact on lenders.

The article looks at how indemnities and releases differ and what landlords and tenants should consider when negotiating.

The new regulation prohibits the head contractor from withdrawing retention money except in accordance with the contract.

Reminiscent of the last release of a new draft of APS 120 in November 2007, APRA released a consultation draft of a revised APS 120 and APG 120 in late December last year. The drafts were part of a package of revised prudential standards and practice guides that implement the enhancements to Basel II finalised by the Basel Committee on Banking Supervision in July 2009.

The ACCC can now stop merchants over-charging customers for paying for goods and services with credit or debit cards.

"Responsible lending" under the National Credit Act is of concern for credit providers, lessors and credit assistants.

This SA decision reassures hire businesses that they do not have to guess which hires may last for more than two years.

The liquidator's disclaimer notice was void, so the creditor was the victim of failure to register properly on the PPSR.