To ensure enforceability of a bank guarantee (or other instrument), it is important to comply strictly with any prescribed form or wording requirements for legal communications relating to that instrument.
In this insight, we summarise the new laws and take a closer look at how the reforms affect particular types of transactions. We also provide some practical tips for drafting and managing contracts affected by the new laws.
By 2031, more than 30 million will call Australia home, and with this forecasted population increase comes significant infrastructure demands. Australia’s infrastructure projects have traditionally been funded via bank or government balance sheets, but this is all set to change.
In mid-2017, Swiss Re, the world’s second largest re-insurance company, announced they had begun to integrate Environmental, Social and Governance (ESG) factors into their investment decision making processes. By the end of 2017, Swiss Re expects that all investment decisions impacting their entire USD130bn global portfolio will be based on ESG and related ethical factors.
The Federal Government has released its long-awaited draft legislation to amend the Corporations Act to introduce a ‘safe harbour’ carve out to a director’s personal liability for insolvent trading and a stay on the enforceability of certain ‘ipso facto’ clauses during an administration or scheme of arrangement. Our Restructuring + Insolvency Team dissects what the proposed changes mean for Australian businesses.
In the summer issue of Young Lawyers Journal, Banking + Infrastructure lawyer Daniel Yim wrote about the law of change - that is, the challenges and lessons arising from the trend for non-lawyers to perform services traditionally delivered by law firms.