In the 2018 Federal Budget, the government announced that it proposed to reform relevant legislation so that regulators could more efficiently curtail illegal phoenix activity.

These announcements have now been acted upon, and on 13 February 2019, the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019 ('the Illegal Phoenixing Bill') was introduced into Parliament. The proposals in the Bill include giving ASIC, liquidators, and the ATO new powers to help deter and disrupt illegal phoenix activities and prosecute culpable directors and associated persons.

The April edition of the Body Corporate Newsletter covers what new owners can do when faced with defective or incomplete building works, and the role the Queensland Building and Construction Commission (“the QBCC”) can play in helping you address the issue. Read the newsletter

The January 2019 edition of our Body Corporate Newsletter highlights the rights and obligations of the Body Corporate and lot owners in maintaining common property and rights in relation to access for investigation and repair. Read the latest newsletter for details

The November 2018 edition of our Body Corporate Newsletter showcases a recent case of alleged defamation that took place in a body corporate meeting and the resultant claim for damages. Read the latest newsletter for the details

Holman Webb Lawyers recently obtained an important decision in the Federal Court which has implications for the body corporate industry with respect to the recovery of unpaid levies.

First published in Governance Directions, the official journal of Governance Institute and updated for the Health Law Bulletin June 2018 edition.

Key Takeaways:

• Insolvency legislation to create a safe harbour for directors from insolvent trading claims in certain circumstances has received royal assent.
• A director will be entitled to claim the protection of the safe harbour upon developing a course of action reasonably likely to lead to a better outcome.
• To utilise the safe harbour, a director should seek timely advice from an appropriately qualified professional.

Following our previous article, ‘Insolvency safe harbour for ‘honest’ directors’, in the June 2017 issue of the Governance Directions, the proposed safe harbour reforms have now received royal assent and have come into effect.

Last year Holman Webb Lawyers Brisbane (“HWLB”) successfully obtained orders against a company director and a company officer for contempt of court. The contempt orders were necessary to enforce injunctive orders previously obtained by HWLB on behalf of Beech Ovens Pty Ltd. These proceedings are an exemplar of the personal liability which directors and company officers have for the actions of their company in complying with Court orders.