Monthly Archives: February 2012

On 15 February 2012, the Corporations Amendment (Phoenixing and Other Measures) Bill 2012 was introduced into federal parliament. The effect of the Bill, is to make a number of amendments to the Corporations Act which may affect insolvency practitioners, directors and financiers and areas of the banking and finance industry.

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Thomsons Lawyers recently advised Champ Ventures and other shareholders on the sale of Intercast & Forge Pty Ltd to Pandrol Australia Pty Ltd. Intercast manufactures castings and undertakes forging services for industry including rail, mining and automotive businesses.

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The Assistant Treasurer recently released the Public Ancillary Fund Guidelines 2011. The Guidelines commenced on 1 January 2012, subject to the transitional provisions. The purpose of the Guidelines is to set minimum standards for the governance and conduct of a Public ancillary fund (Public AF) and its trustee.

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Thomsons Lawyers has acted for the Internode group and its shareholders on its sale to iiNet Limited (ASX:IIN) for $105 million, completing on 31 January 2012.

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Thomsons Lawyers has acted for Pro-Pac Packaging (PPG), an ASX listed national packaging group, in its acquisition of the assets and business of Hills Industrial.

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On 30 January 2012 the Personal Property Securities Act 2009 (Cth) (PPSA) commenced operation. The PPSA replaces the existing legislation regarding registration of security interests in personal property and introduces the Personal Property Securities Register (PPSR).

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The recent Supreme Court of Queensland decision of Syntech Resources Pty Ltd v Peter Campbell Earthmoving (Aust) Pty Ltd & Ors [2011] QSC 293 considered the effect of an adjudicator’s decision to exclude from his consideration spreadsheets that the applicant, Syntech, had provided in its adjudication response but which had not been included in its payment schedule. The case illustrates the importance to respondents of including all relevant submissions, where possible, in its payment schedule and to claimants, of carefully scrutinising new materials that may have been included in an adjudication response.

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Significant changes on the way pollution incidents are reported in NSW come into operation on 6 February 2012. Further important changes relating to management plans and the publication of monitoring data also commence later in February and March 2012.

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On 13 January 2012, the Queensland Government announced significant reform to the way in which land will be made available for coal tenure. This significant reform includes a transitional restriction on new applications for coal tenure over any land in Queensland until a new competitive bidding tender process for coal tenure is introduced.

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Singtel Optus Pty Limited & Anor. v National Rugby League Investments Pty Ltd (No 2) & Ors. On 1 February 2012 the Federal Court handed down its decision in the much anticipated proceedings involving Optus’ TV Now service. The Court held that the TV Now service does not infringe upon the copyright of the National Rugby League, the Australian Football League or Telstra. The decision may have a substantial impact upon the value of a content owners’ product and their current and future exclusive rights arrangements.

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