Happy New Year to all of our valued clients. With so much change in employment regulation, we take this opportunity to look at the key employment issues that are likely to arise over the next 12 months and explain how they will affect your business now and in the future.
When land is reserved for a public purpose due to the making or an amendment of a planning scheme, the owner of the land is entitled to seek compensation for injurious affection. This is because the value of the land reserved under a planning scheme may be affected by the existence of the reservation. In a decision handed down on 8 February 2017, the High Court concluded that compensation is only available to the owner at the time of the reservation, setting aside the WA Court of Appeal decision in Southregal Pty Ltd v Western Australian Planning Commission.
This Code came into force on 1 January 2017. It has been developed to ensure that public funds in Western Australia are spent on certain State Building Work using only safe and reputable Building Contractors. The Code promotes fair and efficient practices and productive workplace relations.
Trading trusts are a feature of modern business practices and have been for some time. They present complexities for liquidators, administrators and their advisers and cause ongoing difficulty and the need for legislative change.
We have reported and commented upon updates and developments concerning cross-border insolvency matters in all editions of Insolvency Quarterly from time to time. In this quarter we briefly comment upon three particular decisions/themes that emerged over the last quarter.
A recent application to the Federal Court of Australia in Crosbie, in the matter of Hastie Group Limited (in liq)  FCA 1289 (Crosbie) is another reminder of the important role that litigation funders can play to assist liquidators in maximising the return to creditors in a liquidation. However, if insolvency practitioners decide that they are going to seek assistance from a litigation funder to pursue potential actions or examinations, it is important that they comply with section 477(2B) of the Corporations Act 2001 (Cth)(Act) and seek either the approval of creditors, the committee of inspection or the Court.