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The long-term gains of simplifying financial services legislation

Australian Law Reform Commission (ALRC) president, Justice Sarah Derrington, has illustrated her vision for the financial services industry following the commission’s review into its legislation. ....

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Lightspeed Finance and director fined for failure to give effect to an AFCA determination

The case involves an "unaffordable loan" to complete home renovations ....

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Ding Dong – Set-off is Gone | Set-off is No Longer Available as a Defence to an Unfair Preference Claim | K&L Gates LLP

For some time, the reliance on section 553C of the Corporations Act 2001 (Cth) (Act) as a "set-off" defence to an unfair preference claim, under section 588FA of the Act, has caused. ....

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Full Court Vacates Set-Off Provisions in Unfair Preference Claims

The Full Court, in Gavin Morton As Liquidator Of MJ Woodman Electrical Contractors Pty Ltd & Anor v Metal Manufacturers Pty Limited found that the defence of set-off is not available to a defendant of a liquidator's claim for the recovery of an unfair preference. ....

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'Laws regulating financial services are unnecessarily complex', review finds

The laws regulating corporations and financial services are uniquely and unnecessarily complex, the ALRC has argued in its latest report. An interim report detailing the complexity of Commonwealth le ....

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