Case update – Mann v Patterson Constructions
In October, the High Court handed down its judgment in the case of Peter Mann & Anor v Paterson Constructions Pty Ltd [2019] HCA 32 (Paterson), clarifying principles and providing constraints in respect of a claim on the basis of quantum meruit.
ALRC Review of Legal Structures for Social Enterprises
On 2 December, the Australian Law Reform Commission (ALRC) released its report. ‘The Future of Law Reform: A Suggested Program of Work 2020-25’. The report highlights five areas of law they suggest for ALRC inquiry over the next five years, with one such topic being the legal structure for social enterprises.
Australia’s FinTech Regulatory Sandbox Now Open – Introduction of new Bill puts measures in place to begin easing regulatory burden on FinTech start-ups.
On 15 October 2019, the Treasury Laws Amendment (2018 Measures No 2) Bill 2019 (Bill) passed the House of Representatives and has now been introduced to the Senate.
Clarity on financial assistance. The High Court rules in Connective Services v Slea
In a unanimous judgement, the High Court recently held that Connective Services Pty Ltd had breached its obligations under the Corporations Act (Act) by bringing and funding litigation in respect of the enforcement of its shareholders’ constitutional pre-emption rights against an outgoing shareholder.