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The Federal Government’s has recently announced a plan to wind back responsible lending obligations on lenders to boost Australia’s economic recovery. This article explains the key changes and how this proposed streamlining will change the current regulatory landscape.
Recently, the Supreme Court of Victoria heard the case of Australian Xinyangfeng Fertilizer Pty Ltd v Freshwater  VSC 450 which provides an example of one of the mechanisms available to parties when another party defaults on a settlement agreement to hold the defaulting party to the bargain struck. The re-opening of the old case fast-tracked enforcement of the original agreement, saving time and the cost of initiating new proceedings.
On 30 July 2020, the Federal Court of Australia (‘Federal Court’) issued orders In the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 2)  FCA 1111, restraining the director of a company in voluntary administration from handling company information that was requested by the Administrators. This case serves as a reminder to companies in administration to ensure full compliance with reasonable information requests from administrators while also demonstrating the complexities in document management and the risks improper data handling can have on the work of administrators.