Business Law

Shareholder Agreement Basics – Shareholders Agreement & Disputes with Shareholders

Introduction – Disputes Among Shareholders In our earlier articles we set out the benefits of a Shareholders Agreement and how decisions can be controlled under a Shareholders Agreement. This article will be focused on the issue of disputes amongst shareholders and how they can be addressed as part of the Shareholders Agreement. The small business …

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Going Guarantor? Know what you are signing up for

The concept of guaranteeing a debt is simple enough, however the legal and financial consequences of going guarantor are significant. Financial institutions and lenders require their clients to obtain independent legal advice prior to processing a guarantor application. The legal advice provided by the lawyer should be comprehensive, advice in this context is not merely …

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Shareholder Agreements- Does a Shareholders Agreement Trump The Company’s Constitution? Case Note

Introduction This case note details the issue recently canvassed in Lorebray Pty Ltd (2021) NSWSC 1533 (23 November 2021) when there is an inconsistency between the Constitution and Shareholders Agreement. Constitution & Quorums When a Company is established, the rules for the establishment and internal management of the Company are usually set out in writing …

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Shareholder Agreement Basics (2) Shareholders Agreement – Decision Making

Introduction – Decision Making in a Shareholders Agreement In our earlier article we set out some of the details about why a Shareholders Agreement is useful and some of the key reasons to set up a Shareholders Agreement. This article will be focused on the issue of decision making under a Shareholders Agreement. The key …

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Shareholder Agreement Basics (1) What Is A Shareholders Agreement?

What is a Shareholders Agreement A Shareholders Agreement is an agreement between shareholders as to how they will operate and control a company together. It is the ‘road map’ which is set to govern the relationship of the parties and how they will behave towards each other before, during and at the end of that …

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Business Succession Planning Company Power of Attorney

Introduction Why would a company need a power of attorney?  Arguably, a company doesn’t live and therefore just keeps on going (pending liquidation or wind up).  However, as every company director knows, the decision making and sign off responsibility is solely at the feet of the directors who run the Company. For small companies, especially …

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COVID-19 Relief

Since the implementation of COVID-19 restrictions and, in particular since the New South Wales lockdown commenced in late June 2021, many businesses have found it difficult to continue operations. Likewise, many individuals have been left struggling to make ends meet Yesterday the Government announced a Small Business Relief Package to assist Small Businesses in managing …

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Buying or Selling a Business? Some things to consider for both Business Owners and Purchasers

Introduction As the economic effects of COVID-19 begin to be more harshly felt by Australian businesses, many business owners are choosing to sell their business. Whether triggered by financial hardship, business partnership disagreements, market changes or a desire for a change, the importance of ensuring assets are properly transferred to the purchaser remains unchanged. It …

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Deadline for changes to foreign person surcharge duty rapidly approaching

On 24 June 2020, the State Revenue Legislation Further Amendment Act 2020 came into effect, which made amendments to the Duties Act 1997, the Land Tax Act 1956, and the Land Tax Management Act 1956. The amendments are meant to address what is perceived to be a loophole that has been long exploited by foreign …

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Business Law – Circular Economy “Right to Repair” Enquiry November 2020

The Productivity Commission is in the process of reviewing the “right to repair” The concept of the “right to repair” means a consumer’s ability to repair faulty goods, or access repair services, at a competitive price. Why Is It Relevant? In the context of modern consumer markets there has been a trend for the manufacturers …

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