201510.28
0

What does a Homeowner do to rectify defective works?

In the event a homeowner claims there have been defective works in the construction of their home, a homeowner can make a building claim to the Consumer Trader & Tenancy Tribunal (CTTT) seeking an order for the licenced contractor to pay damages for the costs of rectification works. As an alternative avenue to the CTTT,…

201510.28
1

BCISPA – Denial of Natural Justice

In the case of Lahey Constructions Pty Ltd v Newbold Build Haulage Pty Ltd [2013]NSWSC  215,  Lahey Constructions Pty Ltd (“Lahey”) applied to the Supreme Court of New South Wales (the “Court”) seeking orders to have an adjudication determination made pursuant to the Building and Construction Industry Security of Payment Act 1999 (the  “Act”), set = aside = and found void. The background to this case was…

201510.27
0

Termination of Building Contracts for Delay

Section 41 of the Domestic Building Contracts Act 1995 (Vic) (the “Act”) confers a right on Owners to terminate the contract if: • the work has not been completed within one and a half times the period in which it ought to have been completed; and • the reason for the increased time or cost…

201510.27
0

Employee Share Schemes – ‘Golden Handcuff’ or Reward for Past Services?

This is our second article in our series of articles on Employee Share Scheme (“ESS”). The characterisation of ESS has affected whether benefits under option schemes should proportionately reflect the period of employment during the operation of scheme. The case of Canizales v Microsoft Corporation (2000) 99 IR 426 (‘Canizales’) involved a Microsoft executive from…

201510.27
0

Employee Share Schemes – Introduction

Are you an employee being invited to participate in an employee share scheme? Or perhaps you are an employer considering an employee share scheme as part of the remuneration package offered to employees. If so, read our three article series to get an overview of employee share schemes (“ESS”). ESS enable employers to remunerate their…

201510.27
0

Unexpected Increases in the Contract Price

Are you a builder who has experienced the owner continuously requesting variations to the Contract? If so, did you know that if the contract price has increased by more than 15% there is a legal remedy pursuant to the Domestic Building Contracts Act 1995 (Vic) (the “Act”)? Builders would be prudent to remember that the…

201510.20
3

Convertible Notes – Issues in Insolvency – MurdockCheng Legal Practice

Convertible Notes – Issues in Insolvency – MurdockCheng Legal Practice Have you ever wondered what a convertible note is or whether it is suitable for your company to issue them? Or how they operate when a company becomes insolvent? A convertible subordinate loan note (“convertible note”) is a short term debt security that carries a…