Norton Rose Fulbright (LexBlog Australia)

Following amendments made by Safe Work Australia (SWA) to the model Work Health and Safety Act and the model Work Health and Safety Regulations (model WHS Regulations) in June 2022 (see our related blog articles here and here), the Commonwealth, and most States and Territories have implemented specific regulatory duties requiring persons conducting a business...

On 17 July 2023, the European Commission published a draft Implementing Decision amending Commission Implementing Decision (EU) 2016/2272 of 15 December 2016 on the equivalence of financial markets in Australia in accordance with the European Market Infrastructure Regulation. The draft Implementing Decision notes that since adopting Implementing Decision 2016/2272, an additional financial market...

A July 2023 judgment by the Federal Court of Australia held that by reason of the definition of “Contract Works” in the Contractors Liability Policy, the contract works exclusion was not limited to those parts of the works owned by or in the possession of the insured because the natural and ordinary reading of the...

Earlier this month, the High Court of Australia ultimately rejected trade mark infringement and misleading/deceptive conduct claims by Allergan (owner of the injectable BOTOX®) against Self Care’s anti-wrinkle skincare products PROTOX and INHIBOX (marketed under the slogan ‘instant Botox® alternative’). The case has been running for 6 years. Allergan relied on the overwhelming reputation of...

Our global restructuring team has released its quarterly International Restructuring Newswire. Our new issue features articles from Hong Kong, Australia, the US, the UK and Canada to help you stay current on recent developments in restructurings in various jurisdictions around the globe.

In this case, class action proceedings were brought against the insured claiming damages for property loss arising from the release of, or failure to release, water from two dams. The liability of the insured arose out of its agreement to provide flood management services to the dam operator. The insured had been held vicariously liable...

The Federal Court of Australia found in March 2023 that a claim under a Directors & Officers Policy was excluded because the director had gained personal advantage from his wrongful act to which he was not legally entitled when he concealed information to avoid cancellation of a contract held with another company owned and controlled...

From 1 January 2021, Australia’s insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive – specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing “one size fits all” voluntary administration and scheme of arrangement processes...

This December 2022 Australian judgment of Ritchie v Insurance Australia [2022] NSWCA 278) considered an event where two employees of the insured were engaged in installing reinforced steel into trenches as part of a residential building works and used a power cutter fitted with a cutting blade to cut reinforcing steel. The use of the...

Today’s announcement of a review into managed investment schemes signals a potentially significant overhaul of the laws governing Australia’s main investment vehicle. In arguably the broadest review since that undertaken by the former Corporations and Markets Advisory Committee in 2012, the Assistant Treasurer announced that the Federal Government will undertake a review of “the regulatory...

By Nicki Milionis with thanks to Artemis Sfendourakis for her contribution Following amendments made by Safe Work Australia (SWA) to the model Work Health and Safety Act and the model Work Health and Safety Regulations (model WHS Regulations) in June 2022 (see our related blog articles here and here), the Commonwealth, States and Territories are...

Summary In a highly anticipated decision, the High Court of Australia has unanimously determined in Bryant & Ors v Badenoch Logging Pty Ltd [2023] HCA 2 that the peak indebtedness rule is not part of the unfair preference provisions in the Corporations Act 2001 (Cth) (Act).  The decision means liquidators will no longer be able...

The Attorney General’s Department released its Privacy Act Review report on 16 February 2023, that includes the broad suite of reforms you would expect to bring Australia’s privacy laws in to line with both international standards and the reality of our data-based economy. These include enhanced data subject rights and increased accountability requirements for organisations collecting and...

Please see our latest post on our FinTech blog, covering Australia’s recent announcement of a Token Mapping Consultation.

In a landmark case, the High Court of Australia this month unanimously determined in Metal Manufactures Pty Limited v Morton [2023] HCA 1 (Morton) that set-off is not available against a liquidator’s unfair preference claim. The effect of the decision is that a creditor is not entitled to deduct any outstanding claim that it might...

Overview There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors’ schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the laws providing directors with a safe harbour from insolvent...

From today, Australian permanent and casual employees working for non-small business employers can access 10 days of paid family and domestic violence leave (FDV Leave) every 12 months to deal with the impacts of family and domestic violence. This new entitlement replaces the previous National Employment Standards entitlement to 5 days of unpaid FDV Leave. Employees...

The month of November saw a flurry of regulatory activity by APRA and ASIC across strategic focus areas: crypto-asset regulation, enforcement of design and distribution obligations, reforming operational risk requirements for super funds and improving governance practices across the superannuation industry at investment and board levels. Meanwhile, AUSTRAC launched two consultations on proposed...

In the second in our global series of regulatory podcasts focusing on conduct issues, financial services partners from Australia, Hong Kong, Luxembourg, Germany, United Kingdom and the United States consider the cross border distribution of funds by focussing on the following five topics: What trends or industry developments are you seeing in your jurisdiction as...

Major privacy law reform in Australia gathered pace this week, with newly tabled legislation proposing to significantly increase penalties for privacy breaches, among other reforms. Now is the time to start asking questions In preparation for these reforms, companies that collect and process personal information should be asking the following questions: Do we know what...

Our global restructuring team has released its quarterly International Restructuring Newswire. Our new issue features articles from the US, Australia and Canada to help you stay current on recent developments in restructurings in various jurisdictions around the globe. Alto Maipo: Delaware ruling poses jurisdictional challenges for Chapter 11 debtors Financial crime in an economic downturn:...

In the first in our global series of regulatory podcasts focussing on conduct issues, financial services partners from Australia, United Kingdom and the United States cover the rising cost of living, vulnerable customers and consumer duty. (Apple Podcasts / Spotify)

In this judgment, the relevant insurers relied on a limitation defence against the insured’s claims.  All the parties agreed that the claim was in contract and had a limitation period of 6 years under the relevant legislation. The question was the accrual date of the insured’s cause of action. The court confirmed that the date...

In this judgment the court considered the insured’s duty of disclosure and the insurers’ ability to avoid the policy under the relevant Australian legislation. The question turned on what was called the Iraq File Note written in November 2010.The insurers contended that the contents should have been disclosed before renewal of the policy in 2011....

Australia has a vibrant InsurTech ecosystem and similarities between the UK and Australian insurance markets, together with the promise of sunny weather, make the land down under a great option for InsurTechs looking to set up shop abroad. In this article, in collaboration with the UK Department for International Trade, we share some things to...

In this April 2022 judgement, the court reviewed and considered the doctrine of double insurance in the context of a motor vehicle accident claim where the third party insurer settled the claim and then sought a contribution from the insurer of the employer of the driver.  And the effect in that context on double insurance of...

This judgement dealt with a trade credit insurance policy issued by the insurer. Trade credit insurance is a business insurance product which indemnifies a seller against losses from non-payment of a commercial trade debt. The insurer usually pays an agreed percentage of an invoice or a receivable that remains unpaid because of protracted default, insolvency...

This is an Australian case which concerns legal duties that a broker owes to its client (the insured) and the burden of proof that lies with the insured in showing whether brokers breached their legal duty. The broker provided the client with insurance brokerage services for over 30 years. The broker had obtained all-inclusive building...

“The purpose of the principle that a party injured by the wrong of another must mitigate the Damage is to ensure that damages do not over-compensate for the wrong, not to empower the wrongdoer to frustrate a claim for reasonable compensation.  Therefore, the onus of establishing that the injured party has not mitigated their loss...

The model Work Health and Safety Act (Model Act) and the model Work Health and Safety Regulations (Model Regulations) have recently been amended by Safe Work Australia (SWA). These amendments implement the agreed response by WHS Ministers in May 2021 (see our earlier blog article here) to the recommendations contained in the Marie Boland independent...