News
Severe Consequences For Knowingly Assisting In Breach Of Fiduciary Duty
The duties that arise out of a fiduciary relationship, such as those owed by a trustee to a beneficiary, are some of the most stringent the law imposes. The recent case of Ancient Order of Foresters in Victoria Friendly Society Ltd v Lifeplan Australia Friendly Society Ltd [2018] demonstrates the serious repercussions for a third party who, while not a fiduciary themselves, knowingly assists a fiduciary in their dishonest and fraudulent conduct.
The case demonstrates that the Court is willing to order such a third party to account for their profits, including potential future profits for an unrestricted time frame.
MST Lawyers Recognised In Who’s Who Legal
The international publication Who’s Who Legal, through independent research and peer review, has recognised MST Lawyers and four of its lawyers as the stand out firm in Australia in franchising law.
Injuncting A Wind Up Application – Abuse Of Process?
Non-compliance with a statutory demand is the most common way to prove insolvency.
The recent decision of the Supreme Court of Victoria in A G Coombs Pty Ltd v M & V Consultants Pty Ltd (in liq) [2018] VSC 468 illustrates the issues faced by the recipient of a statutory demand who disputed the debt on which the demand was based. While it was argued that they were unquestionably solvent, the recipient failed to make an application to have the statutory demand set aside within the 21-day time limit.