June

$19 million penalty for Garuda brings global cargo cartel case to a close ‒ but the ACCC won't rest on its laurels - The second highest penalty in the international airline cartel cargo case shows the Court will impose very significant penalties even if the conduct did not generate huge profits, if other factors are shown.
Are we there yet? The wait for Australia's first judgment in a shareholder class action may soon be over - The decision in the TPT proceeding is likely to provide some clarity around quantifying loss.
Australia currently a global investment hot spot - Australia is currently one of the most attractive foreign investment destinations due to its corporate regulations striking a careful balance between legal security and commercial freedom.
Australia takes the lead on a future Free Trade Agreement with post-Brexit United Kingdom - Australia's Department of Foreign Affairs and Trade is calling for submissions from interested persons on the impacts of a future Free Trade Agreement with the United Kingdom post-Brexit.
Boosting public confidence in government contracts: The court revisits the "fettering" doctrine - The Court of Appeal's most recent re-examination of the "fettering" doctrine is a useful exploration of the issue which will be of interest to anyone who contracts with government
Caught in the Court's cross hairs: executive director retention payments - Four recent scheme of arrangement Court decisions reveal a change in thinking towards executive director retention payments, say Stephen Neale and Benjamin Depiazzi.
Changes to AFCA Rules approved and amended Operational Guidelines released for legacy complaints - Financial firms need to be sufficiently resourced and ensure their complaint resolution and document retention procedures are ready in order to handle legacy complaints.
Code of practice in effect and water licence prohibitions commence for onshore petroleum activities in the NT - Operators of onshore petroleum activities in the Northern Territory will now need to comply with the finalised code of practice and understand the prohibitions on water licences which have now commenced.
Coming to terms with the most talked about term sheet of 2019 - The recently released Atlassian Term Sheet offers some insight into Atlassian's approach to M&A, but companies need to carefully consider their own drivers, risk profile and appetite for M&A before following suit.
Court reinforces hard line on corporate fraud: corporation’s deep pockets don’t detract from seriousness of offence - There is value in large organisations reinforcing to their employees — in codes of conduct, fraud or corruption policies, training programs and other HR communications — that the courts will not show leniency to corporate fraudsters merely because their employer has large financial resources.
Environment and Planning 5 Minute Fix 04 - The Environment and Planning 5 Minute Fix gives you a snapshot of what you need to know across a range of environment and planning issues across the country. This edition focuses on the latest in climate change and sustainable development including new accepted development codes for vegetation clearing in Queensland and restrictions on taking and disposing water for petroleum activities in the Northern Territory.
In Amerind we (mostly) trust: navigating the statutory priority regime when winding up an insolvent corporate trustee - While the High Court has provided some clarity on the operation of the statutory priority regime, insolvency practitioners will still need to tread carefully when dealing with corporate trustees.
Major projects & construction 5 Minute Fix 34 - Get your 5 Minute Fix of major projects and construction news. In this issue, the Court of Appeal of New South Wales revisits the doctrine against "fettering" of government contracts, the Supreme Court of Victoria considers the proper construction of dispute resolution clauses and we round up recent cases involving security of payment issues.
Major projects & construction 5 Minute Fix 35 - Get your 5 Minute Fix of major projects and construction news. In this issue, Victoria's Supreme Court is asked if the Commonwealth owes a duty to take reasonable care in the design of fiscal policy to prevent economic loss to a single sector of the community; the NSW Supreme Court considers whether a "contract or other arrangement" existed between two parties as contemplated by the Building and Construction Industry Security of Payment Act 1999 (NSW); the Victorian Parliament amends the Building Regulations 2018 (Vic); and the NSW Government proposes amendments to the Modern Slavery Act 2018 (NSW).
Media Release: Clayton Utz advises NYSE-listed Genuine Parts Company on acquisition of remaining 65% stake in Inenco Group - A Clayton Utz team is advising NYSE-listed Genuine Parts Company (GPC) on taking its existing stake in Australian-based Inenco Group (Inenco) to 100 per cent, through an agreement announced to the market on 22 May 2019.
Media Release: Clayton Utz advises Oaktree Capital on innovative Marlin Brands buyout - Clayton Utz has advised global alternative investment management firm Oaktree Capital Management (Oaktree) on its acquisition of consumer brands owner Marlin Management Services (Marlin Brands).
Media Release: Clayton Utz advising on the acquisition of Patersons Securities - Clayton Utz is advising Patersons Securities Limited, a premier independent Australian securities business, on its proposed scheme of arrangement with an Australian subsidiary of TSX-listed Canaccord Genuity Group Inc.
Media Release: Clayton Utz congratulates Sydney Metro on the opening of Sydney Metro Northwest - Clayton Utz congratulates Sydney Metro as the first trains carried passengers on the Sydney Metro Northwest line - the first driverless metro rail line in Australia and the country's biggest public transport project.
Motive irrelevant as insurer's attempt to expand the operation of an insolvency exclusion in D&O policy fails - A recent Full Court decision is a win for directors who hold D&O insurance policies, as well as those seeking to bring proceedings against directors of an insolvent company – probably to the dismay of insurers.
Now that the dust has settled, what lies ahead from the Morrison Government for the property industry? - It is encouraging to see these policy areas at the heart of decision-making in Government.
NSW Budget Overview: New tax changes effective 1 July - The New South Wales Budget Paper No. 1 and the State Revenue and Other Legislation Amendment Bill 2019 (NSW) (Bill) were introduced into the Lower House of Parliament on 18 June 2019.
Open Banking is on its way and now is your chance to comment - The Government is seeking submissions from interested parties in implementing the Consumer Data Right in the banking sector.
Real estate: 5 Minute Fix 06 - Get your 5 Minute Fix of real estate news. This issue: technology and the future of legal services; March 2019 CPI Quarter; first home buyers 5% deposit scheme; rescission and off-the-plan contracts in NSW; online land transfers, foreign purchasers stamp duty surcharge to rise, and "economic entitlement" stamp duty in Victoria; changes to the Sale of Land Act 1962 (Vic); no more paper certificates of title in Queensland; more time for Queensland building owners to comply with combustible cladding regime; is replacement of roof titles maintenance or capital improvement?; important changes to the way Councils procure goods, materials and services; and Qld Budget introduces land tax increases and changes regime for absentee Australian citizens and Australian permanent residents living overseas.
Retrial ordered for director convicted of WHS breach - The Lavin case has broadened our understanding on what considerations a Court and jury must look at when determining the guilt of a person charged with a category 1 offence.
Sweeping Victorian stamp duty changes will affect corporate restructures, property developments and foreign investment - The Victorian Government is making major changes to the corporate reconstruction exemption, "economic entitlement" provisions and foreign resident surcharge.
The future of the NSW Modern Slavery Act is unclear - Although the NSW Act has reached a roadblock and will not be commencing any time soon, this should not result in complacency amongst NSW entities.
The price is right: electricity price caps and no headline discounts under the ACCC's Electricity Retail Code of Conduct - Electricity retailers in New South Wales, South Australia and South-East Queensland must cap their standing offers and advertise price comparisons to customers from 1 July 2019.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.