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Executive remuneration - productivity commission releases final recommendations

On 4 January 2010, the Australian Government released the Productivity Commission’s (Commission) final report on executive remuneration in Australia (Report) which contains the Commission’s final recommendations for law reform in this area. The Report follows on from public consultation late last year on the Commission’s draft...

Corporate trustees have the right to make their own decisions

We recently successfully represented shareholders of a unit trust who attempted to challenge a trustee’s discretionary powers in a bid to reshape the company’ s board. A group of shareholders of a publicly listed gold exploration company differed in their opinion about the exercise of voting rights for 8.8 million shares. The...

Federal government crackdown on phoenix activity

On 14 November 2009 the Federal Assistant Treasurer Nick Sherry released for public consultation a package of proposed tax and corporate law reforms which have been designed to crackdown on fraudulent phoenix activity (Proposal Paper). The term ‘fraudulent phoenix activity’ is typically associated with a director who: ...

Ownership rights in 'improvements'

As a general rule, an organisation entering into a collaborative agreement will always assert and maintain ownership of its background IP (‘Background IP’) that it brings to the collaboration. It is also becoming common that the organisation asserts ownership of any improvement in the Background IP that arises out of the results of...

Can a body corporate regulate the length of a tenancy?

With the annual schoolies ‘festival’ there has been a lot of press and other comment about the ability of a body corporate to restrict schoolies style tenancies. In addition, from an internal industry perspective there has been an increasing comment and concern about the mixing of short and long term tenancies (the usual owner...

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