December 2016

  • 15 December, 2016

    Insolvent trading – ASIC reports increase – are you a director at risk?

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    Insolvent trading

    In a recent insolvency statistics report[1], ASIC reported in respect of the 2015-16 financial year, 9,465 reports were lodged with ASIC by external administrators. Insolvent trading counted for 7,797 (or 82.4% of reports) during the reporting period rendering it the most common allegation against company officers relating to possible misconduct.

    While insolvent trading has been the most common allegation in possible misconduct reports by external administrators of companies in prior years, there has been a notable increase in the overall percentage of reports of misconduct in this area when compared to 2014-15 (6,561 or 78.5% of reports) and 2013-14 (7,218 or 76.3% of reports). Read More >

  • 13 December, 2016

    Deed of Company Arrangement (DOCA)

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    What is a DOCA?

    A deed of company arrangement (DOCA) is a binding agreement between a company in voluntary administration and its creditors pursuant to which the debts of the company are typically compromised or repaid over an extended time period.

    A company that is subject to a DOCA is effectively given a second chance to get back on its feet and try to trade its way back to profitability. Read More >

  • 6 December, 2016

    Probationary periods and notice

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    Probationary periods in employment contracts

    Probationary periods are prevalent in most employment contracts. Probationary periods in employment contracts can be utilised by employers to assess the suitability of a new employee for the relevant role and routinely operate to place new employees on notice that continued employment beyond the expiration of the probationary period remains subject to such an assessment by the employer. Read More >

  • 1 December, 2016

    Employment Law Video: Avoiding workplace hangovers this festive season

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    Unfair dismissal claims and other employment law related claims are prevalent following workplace events especially Christmas functions. Unfair dismissal claims can be costly to employers, regardless of the outcome. Our new video has been released to assist all employers avoid the employment law risks and unfair dismissal claims often associated with work or office Christmas parties and functions.

    This video is a must see for employers of all shapes and sizes.

    How can we help with Employment Law?

    Prestige Legal & Corporate Services provides practical legal advice and assistance to employers and senior employees in all aspects of employment law including representation in employment and related litigation before Courts and tribunals including Fair Work Australia. If you are in need of assistance in this area enquire now to get expert guidance in employment law including termination of employment, unfair dismissal, general protections claims and summary dismissal requirements. .

    Disclaimer

    The information contained in this news article is intended only to provide a summary and general overview on the subject matter of interest. It is not intended to be comprehensive nor does it constitute legal advice in any form. All reasonable attempts have been made by Prestige Legal & Corporate Services Pty Ltd (Prestige) to ensure that the information contained in this article is current but no guarantee is given as to its accuracy or currency. Readers should seek legal or other professional advice before acting or relying on any of the content from this article. Delivery of this document or its display on the Prestige website www.prestigecorp.com.au is not intended to create, nor does it create, a solicitor-client relationship between the reader or Prestige. Prestige shall not be responsible to any reader or anyone else for any loss of any kind whatsoever suffered in connection with the material contained in this news article or its use. No representations or warranties are provided by Prestige as to any of the content contained in this news article. The author(s) may not be admitted as a legal practitioner in all States and Territories.