What happens if a trustee company goes into liquidation or is deregistered?

We are often approached by clients or accountants with problems relating to their trusts – sometimes the deed has been lost or damaged, or the trust was established some time ago and the terms need to be updated. An issue that has become increasingly common in recent years (particularly following the GFC) is that where a trustee company goes into liquidation or has been deregistered. This can become quite a complex issue to resolve, particularly when the trust owns real property, or when the trust is a self managed superannuation fund. This issue was also recently considered by the Queensland Court of Appeal in Thorne Developments Pty Ltd v Thorne & Anor [2016] QCA 63 (Thorne).

7 things you probably didn’t know about conveyancing

For many people, buying (and selling) their home is the largest legal transaction they will deal with. Often it is their only dealing with a law firm. Conveyancing is the area of law dealing with the legal aspects of buying and selling property. While conveyancing is a commonly practised area of law, many people make the mistake of assuming it is simple, or do not appreciate the disasters that can occur if it not dealt with correctly.

Caveats

One of the more misunderstood features of Queensland’s title system are caveats. We often receive queries from clients asking whether they can register a caveat over the property of someone who owes them money. While caveats can be a useful tool to protect a party’s interest, we always urge caution when using them, as there can be serious consequences to lodging a caveat.

What are my rights in a shareholders dispute?

Left unresolved, a shareholders dispute can significantly impact on a company’s profitability, if not destroy the company and irreparably damage the relationship between the shareholders. As with all disputes prevention is almost inevitably better than the cure, and in the case of a proprietary limited company, prevention means a properly drafted shareholders agreement (or similar document). A shareholders agreement should, at a minimum, contain clear guidelines for dealing with potential and actual shareholder disputes and may enable parties to engage in cost effective and cost-effective alternative dispute resolution strategies to prevent costly litigation.

Estate Planning and Coronavirus

With the rapidly escalating responses to the coronavirus pandemic, it is more important than ever to ensure that you have an appropriate estate plan in place – and in particular a valid enduring power of attorney and/or advance health directive, in order to ensure that you (or the people that you choose) can make decisions about personal and health care.

Rent relief in a global pandemic? What can tenants and landlords do?

29 March 2020
*Update* – While not announcing any substantive changes to commercial leases, the Prime Minister in his briefing this evening strongly encouraged landlords and tenants to engage in constructive discussions about the lease and arrangements during this period.

Advantages and disadvantages of buying a franchise

Franchising enables people to enter the small business sector without building a business from scratch. You work within an established business model and must meet various obligations – financial and operational – to honour your franchise agreement.