Professor Talal Yassine AM

THE HOLY GRAIL - SUCCESSFUL PURSUIT BY LIQUIDATOR OF DEFACTO DIRECTOR I recently acted for the #Liquidator who successfully established a #defacto director claim in the NSW Supreme Court which enabled the pursuit of an #InsolventTradingClaim and other #VoidableTransactionClaims in the #InsolvencyLitigation. TAKEAWAYS: 1️⃣ #InsolvencyPractitioners should ensure that there is sufficient #documentaryevidence to support the finding as #DefactoDirector. In our case, the variety and different types of evidence obtained by the #Liquidator was essential to elevate the assessment by the Court to a #DefactoDirector within the meaning in the #CorpsAct; 2️⃣ #ExaminationTranscripts (from #PublicExaminations) were successfully relied upon by the #Liquidator to demonstrate where the #Defacto Director claimed to have no/limited understanding of various corporate relationships during the #PublicExamination & where during the trial on the pursuit of #InsolventTradingClaim and other #VoidableTransactionClaims was found to be "evasive" under cross-examination despite understanding the issues in the Proceedings - here, the Court placed considerable weight on the #Liquidators procured documents evidencing the #Defacto Director engagement with various third parties and other directors and otherwise largely rejected the oral testimony of the #Defacto Director. 3️⃣ A person's role or activities conducted separately via a #RelatedEntity will not prevent a Court from making a finding (as they did in this case) that they ALSO acted as a #DefactoDirector. 4️⃣ The #Liquidator adduced evidence to substantiate that the #Defacto Director (a wife of another #Director) gave instructions to other directors & third parties (e.g. real estate agents, solicitors, accountants and finance brokers) on how to act on behalf of the #Company (in liquidation). 5️⃣ The #Liquidator relied upon activities conducted by the #DeFacto Director to demonstrate the performance of #TopLevel #Management functions by them and used email records/documents procured through #PublicExaminations to evidence the dealings with third parties. Check out the detailed Pinsent Masons OutLaw Article linked below 👇 Check out the judgment linked below 👇 #CorporateInsolvency #VoidableTransactions #InsolvencyLitigationSpecialists #InsolvencyInsight #LawAtTheCore

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Last week the federal government announced proposed changes to merger legislation. The new merger laws in Australia pose a mixed bag of implications for small business owners. On the upside, these laws could prevent dominant market players from stifling competition by acquiring smaller rivals, potentially offering a more level playing field. This might encourage innovation and fairness in markets previously dominated by a few large corporations. However, the changes come with notable downsides. The increased regulatory burden could introduce significant costs for small businesses. For example, the mandatory notification requirements and hefty administrative filing fees, ranging between $50,000 and $100,000, could strain small enterprises financially. Additionally, removing the Federal Court from the merger review process could diminish transparency and limit recourse for businesses dissatisfied with the Australian Competition and Consumer Commission’s decisions. https://lnkd.in/gSye8pQw Overall, while the reforms aim to strengthen the economy and improve standards, the execution and associated costs might hinder the very competition they seek to enhance, especially for smaller players. Thanks to the 3AW team for the opportunity to unpack this on their national radio show!

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𝐌𝐚𝐣𝐨𝐫 𝐔𝐩𝐝𝐚𝐭𝐞 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐀𝐂𝐂𝐂: 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐝 𝐌𝐞𝐫𝐠𝐞𝐫 𝐍𝐨𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐓𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝𝐬 𝐔𝐧𝐯𝐞𝐢𝐥𝐞𝐝 🚨 The Australian Competition and Consumer Commission (ACCC) has announced significant developments in merger control with its new proposed 'notification thresholds,' marking a pivotal shift in how mergers and acquisitions will be regulated in Australia. 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 : ·        Mergers and acquisitions will now be subject to specific monetary and market concentration thresholds. These thresholds determine which deals must be notified to the ACCC before completion. ·        The new system is designed to target mergers most likely to harm competition and consumers, aiming to strike a balance between facilitating investment and preventing anti-competitive practices. ·        Acquisitions below the set thresholds can still be voluntarily notified to the ACCC, offering businesses flexibility and early clarity. ·        Businesses that fail to notify acquisitions within the prescribed thresholds will face substantial penalties, incentivizing compliance. ·        The ACCC promises expedited review processes for notified mergers, providing businesses with timely certainty and reducing the risk of future regulatory action. 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬: o  This reform aims to streamline the merger review process, focusing regulatory scrutiny on transactions that are most likely to affect competition negatively. o  By lowering compliance costs for less risky mergers and enhancing oversight where it's needed most, the ACCC hopes to foster a more dynamic and competitive Australian market. o  Mergers and acquisitions posing significant competition risks will be more thoroughly reviewed, potentially leading to greater market fairness. o  Businesses will experience reduced regulatory burden for transactions below the thresholds, allowing them to allocate resources more efficiently. o  The system will provide greater transparency and predictability, helping companies navigate the regulatory landscape with confidence. #ACCC #MergerControl #CompetitionLaw #BusinessRegulation #AustralianEconomy #LegalUpdate #MergersAndAcquisitions https://lnkd.in/dmXa-HiT Disclaimer: The Content in this post is for informational purposes only derived from references and does not constitute any professional advice. We do not claim ownership of any data or Information referenced.

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The Australian government has set out an ambitious plan to attract overseas investors with a proven track record, whilst also toughening up safeguards for investments seen as higher risk. In this article, we explore the federal government's approach to attracting investment in key areas, which is outlined in a new paper titled “Australia’s Foreign Investment Policy”. #NationalSecurity #ForeignInvestment #PrivateEquity #ESG #NetZero #Technology

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Peter Dutton has just handed the next election to Labor and The Greens. He has adopted the Big Government, Big Debt, high-cost option on energy. This is a decision driven by culture wars thinking, not by sensible conservatism. We need an open, #competitive energy market which is energy source #neutral - without subsidies for renewables or nuclear. Consumers need to know the real cost of the various energy options. But #Left and #Right both want to pick their preferred energy types and throw taxpayers money at them. The Left subsidises #renewables; the Right not only wants to #subsidise nuclear it wants taxpayers to set up an entire nuclear industry from scratch. And both #refuse to tell us the real cost. This is economic #madness, since neither renewables nor nuclear are low-cost options. Both Left and Right say their energy type is feasible and affordable but their actions give the lie to their words. If renewables really are the #cheapest option, then drop the subsidies. If nuclear really is a #feasible option, let the private sector start work in building seven reactors. #Neither will happen. In reality, our private sector will not touch nuclear power because the risks are too great. And without subsidies, our private sector will not invest in renewables. We have a #dysfunctional energy market #corrupted by politics. We need to get Left and Right out of the picture so we can get a proper market driven by cost-conscious consumer choices. The legislative #ban on nuclear should be lifted. The private sector should be free to develop a nuclear capacity if it thinks it is feasible. Peter Dutton could have announced this position this week. This would be a #sensibleconservative position. But he didn't do that. Instead, he announced a utopian #BigGovernment position in the true #socialist tradition. The State will build 7 power stations, we won't tell you the cost of construction, we won't tell you the unit cost of production or the extent of ongoing public subsidy, and we won't tell you the eventual price of the energy it produces. This is straight out of #NorthKorea. None of this will be disclosed in detail, now or in the future. All this might be acceptable if moving from coal and gas to nuclear in Australia would significantly #reduce global warming. But it won't. It will make no difference to #globalwarming. The planet is warming: there is not much Australians can do about it since the increase in emissions from China, India, Africa, Russia and the Middle East cancels out any reduction in emissions here. Global warming is a global thing - it is not national. The #sensibleconservative position on climate is to acknowledge that the planet is warming and it can't be prevented. There is a lot to be done, however, in #adapting to warming and #mitigating risk - in agriculture, ecosystems and public health. But the political class - Right and Left - prefers the culture wars to doing anything practical. https://lnkd.in/gt3vvsDr

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AMBER & CRANN's Leadership team at Global Economic Summit 2024 this week: AMBER Director Prof Mick Morris, CRANN Director & AMBER PI Prof Stefano Sanvito, AMBER & CRANN Executive Director Dr Lorraine Byrne attended the many sessions including the Keynote addresses below: Angela Wilkinson, Secretary General & CEO at World Energy Council Keynote Address: 'Driving the energy transition – global partnership to reach shared targets' Tedros Adhanom Ghebreyesus Director General of the World Health Organization Keynote Address: 'The future of the healthcare and public health systems', Mairead McGuinness, European Commissioner for Financial Services, Financial Stability and Capital Markets Union Keynote Address: 'Financing the transition – Green and Digital' Engaging keynote discussions such as the above further highlight the need for investment in #materialsscience research which will contribute to 70% of green and digital transitions AMBER's current work involves combatting the challenges of climate change, advancing healthcare for our population as it continues to live longer and developing innovations in our energy and ICT sectors. CRANN's work in areas such as #quantum is increasingly contributing to innovations in finance. Read more about the importance of Materials Science here: https://lnkd.in/gJsQ5Exj #energytransition #healthcare #energy #greentransition

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