201806.02
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Alternatives to Bankruptcy

You may know someone who is having difficulty managing their financial affairs and has debts and liabilities which they cannot meet. They may be considering declaring themselves bankrupt. Before they do so, consideration should be given to some alternatives which are available aside from becoming bankrupt and which we have outlined below. Informal agreement An…

201806.02
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A restraint of trade must be fair

Globalisation and technology has contributed to increased market competition and businesses are more determined than ever to protect their goodwill, trade secrets and customer connections. Including restraint of trade clauses in employment contracts is one way to achieve this. A restraint of trade clause attempts to prevent an employee from engaging in competitive activities which…

201806.02
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Retail Leasing Disclosure Obligations

When leasing commercial property, it is important for tenants and landlords to understand the relationship they are entering and the rights and obligations they have. In Western Australia, retail leases are regulated by the Commercial Tenancy (Retail Shops) Agreements Act 1985 (WA) (the ‘Act’). Generally, and subject to some exceptions, the Act applies to retail…

201720.11
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Testamentary Trusts – asset protection and wealth transfer

For an increasing number of high net worth individuals with complex professional and personal affairs, the question of how best to approach long term estate planning and in particular, what is likely to be the best way to both transfer and preserve wealth for the benefit of successive generations of family, is becoming an important…

201720.11
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Termination by Electronic Media – Pitfalls and Best Practice

The rise in the use of technology means the way we can communicate with each other in our personal and working lives has expanded, almost beyond belief. The ways in which termination of employment can occur have also expanded, but is it lawful to terminate an employee using electronic media? Requirement for written notice Under…

201720.11
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Does your business have a Will?

Most people recognise the importance of having a Will to determine how their estate is distributed when they pass. If you are self-employed, a partner or co-director, having a ‘Will’ or succession plan for your business is equally important. Think about what may happen to your business when a key partner dies or is incapacitated….

201716.10
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Traps to avoid in Commercial Leases

Commercial leases form part of many business transactions and commercial property is a popular investment choice. Whether you are a tenant or landlord, there is much to consider when entering into a commercial lease. Some commercial leases are classified as ‘retail’ and fall under specific legislation operating in various States. With the increase of retail…

201716.10
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Being Declared Bankrupt – What You Need to Know

One of the possibilities of coming into financial strife is that a person may have to deal with bankruptcy. Bankruptcy can have long term adverse effects on a person’s credit rating and ability to borrow money in the future. As such, it is crucial to be informed about bankruptcy and its effects. What is bankruptcy?…

201716.10
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Replacing Appointors and Guardians of Discretionary Trusts

An increasing number of individuals, especially those with complex professional and personal affairs, are using discretionary trusts as part of both their day to day wealth management and also as part of their approach to long term planning. Discretionary trusts can be an excellent vehicle for the management and distribution of assets and income and…

201714.09
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What are your options if your company is insolvent?

If your company is in financial difficulty and heading towards insolvency, there are options available which allow a company to be guided through its financial distress. The best option for your company depends on the solvency of the company and the broad range of director duties and obligations. In this article, we examine the three…