Monthly Archives: December 2014

Superannuation Case Law Update

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As discussed in our previous alerts, there have been significant amendments to the Building and Construction Industry Payments Act 2004 (Qld) (BCIP Act).

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Thomson Geer's Brisbane Banking & Finance team has successfully negotiated terms for the refinance of NSR's debt facility. The overall facility has been increased to $200 million with three lenders: Westpac Banking Corporation, the Commonwealth Bank of Australia and the National Bank of Australia.

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Thomson Geer can confirm that they have been advised by the Government that BCIPA amendments will be effective from Monday 15 December 2014. We expect this date will be formally announced in the coming days.

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As part of the Commonwealth government's agenda to cut red tape, the departments for each portfolio have conducted an audit of legislated regulation in place as at October 2013. The aim was to estimate the regulatory burden imposed on organisations, the community and end users of the various services.

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Amendments to the Health Practitioner Regulation Legislation (Adoption of National Law) Act 2009 (NSW) received royal assent on 28 November 2014.

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Thomson Geer has finalised the sale of a large stake in swimwear group, Seafolly to L Capital, the Asian arm of global luxury goods group Louis Vuitton Moet Hennessey (LVMH).

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The New South Wales Supreme Court, in the recent decision of Kitchen Xchange v Formacon Building Services [2014] NSWSC 160, has provided some guidance in relation to relatively new requirement in the Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act) for claimants to include with their payment claims a 'supporting statement'.

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