On 14 April, ASIC published a media release detailing changes to its regulatory framework and priorities in light of COVID-19. This follows an earlier statement by ASIC, which indicated that it would temporarily change its regulatory work and priorities to allow it and regulated entities to focus on the impact of COVID-19. ...

In its latest compliance update, ASX reiterated that entities in financial difficulty (including with respect to their debt arrangements) will receive no special treatment. On earnings guidance, it was acknowledged that many listed entities have taken the opportunity to withdraw guidance issued before the outbreak of COVID-19. ASX also strongly encouraged entities to review their published guidance in light of COVID-19 and to either update it if it was not current or withdraw it in this highly uncertain climate. ...

Allens announced the appointment of two respected non-executive directors to its Board, Peter Warne and Jane McAloon. ...

In her summary my colleague, Michelle Levy, said her initial reaction was that the recommendations in the Final Report were modest but, on a second reading, some would set a cat among the pigeons. ...

Time to act on Australia's social infrastructure deficit: four steps to address the increasing shortfall ...

The NSW Court of Appeal in Donau Pty Ltd has considered how long a party's right to terminate a contract lasts following a breach by the other party and the implications this has for the doctrine of election. ...

In this case, the NSW Court of Appeal considered the date of the assessment of damages and whether the loss the respondents suffered was too remote. ...

In JPA Finance Pty Ltd v Gordon Nominees Pty Ltd [2019], the VSCA l considered whether the termination notice requirements in an option deed required strict, as opposed to substantive, compliance. ...

In this case, the Full Court of the Supreme Court of South Australia considered the scope and nature of a change of control clause providing that a party's prior written consent 'will not be unreasonably withheld'. ...

Court of Appeal of Western Australia considered the extension of an insurance policy to a building-project subcontractor who was neither a party to the insurance contract nor mentioned by name in the policy. ...