Evolution v Chubb Insurance clarifies that unless a policy contains an advancement of defence costs provision (and subject to the particular terms of the policy), an insured should not assume it will be entitled to be reimbursed for defence costs as and when they are incurred if there is a debate with the insurer about the operation of an exclusion clause in respect of the third party claim brought against the insured. ...

The Federal Government's insolvency reform package relating to small business provides for a debt restructuring process intended to give eligible small businesses the flexibility to restructure debts while the directors remain in control of the business, and for a new simplified liquidation process for small business. ...

The Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 aims to implement the Hayne Royal Commission recommendations in relation to changes to ongoing advice fee arrangements, superannuation trustees passing on advice fees and requiring AFSL holders or authorised representatives (providing entity) to disclose a lack of independence when providing personal advice to retail clients. ...

In the absence of the Responsible Lending Obligations, lending by Australian banks will be regulated by APRA. This means the new Credit Risk Management Prudential Standard (APS220) will be the central legislative guidance in designing consumer assessment and lending protocols. ...

McDonald's has sued Hungry Jack's in an effort to have the latter's trade mark, Big Jack, cancelled based on various grounds. Regardless of the outcome, the case is a timely reminder to use caution when employing comparative advertising against competitors. ...

A Senate Select Committee established to look into the flag's copyright and licensing arrangements recently rejected an approach that would that would see the Government compulsorily acquire the copyright of an Aboriginal artist. ...

A heightened risk of foreign interference and a shift towards enforcement of the new foreign influence and interference legislation means it is now critical to consider any compliance risks your business may face. ...

The government yesterday introduced into Parliament the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 to implement a large number of the Hayne Royal Commission recommendations. Many provisions have a start date of 1 January 2021, and some don't have a transition period. ...

In light of recent tensions, we assess the importance of Australian trading businesses understanding their sovereign risk and the avenues available under international trade law to mitigate that risk. ...

The climate emergency is occupying mainstream policy focus in many countries and with the lack of viable alternatives to achieve the levels of deep decarbonisation consistent with net zero targets, clean hydrogen has unprecedented political and industry momentum. ...