News

  • 11 January, 2017

    Selling your business? Practical tips to save you money

    Selling your business?

    Selling your business can be a rewarding and gratifying exercise. It can also be very time consuming and stressful. Our team of expert commercial lawyers have put together some practical tips derived from our extensive business sale experience which are designed to save business owners money in the business sale process.

    How can we help you with the sale of your business?

    We are expects in assisting our clients with buying and selling businesses. Prestige Legal & Corporate Services has extensive legal and commercial experience in representing buyers and sellers of businesses of all types and sizes across a diverse range of industries and sectors. Our business lawyers and advisors assist clients with expert legal advice and specialised assistance at all stages of the business conveyancing process.

    If you are in need of assistance in selling your business enquire now to get expert guidance in your business sale including due diligence, confidentiality agreements, contract negotiation, contract preparation, commercial agreements and business sale advice.

    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.

     

     

  • 15 December, 2016

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

    insolvent trading
    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)

    doca
    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

    probationary periods
    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

    unfair dismissal

    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.

  • 22 November, 2016

    Voluntary Administration – Second Creditors’ Meeting

    voluntary administration second creditors meeting
    Voluntary Administration: Purpose of Second Creditors’ Meeting

    In a voluntary administration, the purpose of the second creditors’ meeting is to allow the creditors of the company to vote on its future. Read More >

  • 15 November, 2016

    Employment law – practical tips to prevent workplace hangovers this festive season

    No holiday for employment law

    The festive season is here. Christmas parties populate the calendars of thousands of Australian businesses around the country. While these activities are a great way to reflect on the year and acknowledge the achievements of staff and your business, history dictates that these events will yield a significant increase in workplace related risk for employers. Claims of sexual harassment, bullying, discrimination, drug and alcohol use, and other potential misconduct by employees, become a reality for many business owners post-celebration. Employment law does not take a holiday and continues to regulate workplace behaviour and employment relationships regardless of the season. Read More >

  • 31 October, 2016

    What is an Enforceable Undertaking?

    Enforceable Undertaking

    An Enforceable Undertaking is one of a number of remedies available to law enforcement agencies, such as the Australian Securities & Investments Commission (ASIC) and the Australian Competition & Consumer Commission (ACCC), for breaches of the laws administered by these agencies. Read More >

  • 26 October, 2016

    Voluntary Administration – First Creditors Meeting

    how to start a franchise

    What is Voluntary Administration?

    Voluntary administration is an insolvency procedure in which the directors of a financially troubled company or a secured creditor with a security interest over some or all of the assets of the company appoint an external administrator called a ‘voluntary administrator’. Read More >

  • 18 October, 2016

    Trade Marks: Honest and Concurrent Use Exemption

    Trade Marks Scenario

    Your company has been trading for several years and developed an enviable reputation in its industry. Consumers of your products and services are able to identify the company by  its logo on any packaging or advertising material that your business distributes from time to time around the country. Having built such a popular and recognisable brand, you decide that it is best to protect your brand and subsequently apply for the registration of your company’s logo as a trade mark. You receive a trade mark examination report from IP Australia which advises that your company’s logo cannot be registered because it was deemed to be substantially identical with, or deceptively similar to, other trade marks that have previously been registered in the same class of goods and/or services. Read More >