Dundas Lawyers has been named one of Australia’s ‘Coolest’ businesses in Anthill Magazine’s Seventh Annual Cool Company Awards. [Read more…]
Archives for November 2012
Employee Share Scheme (ESS) offering an option
14 November 2012 by
Updated pursuant to the passing of the Treasury Law Amendment (Cost of Living Support and Other Measures) Act 2022 (Cth) (Act).
What is an ESS?
An Employee Share Scheme (ESS), also known as an Employee Share Option Plan (ESOP), is a contribution plan that remunerates employees by providing them with securities or an option to acquire securities and create a beneficial interest in the company. [Read more…]
Federal Court implies a new duty in employment contracts
11 November 2012 by
A recent Federal Court decision has thrown a spanner in the works. The spanner in this analogy is the finding that all employment contracts imply a duty of mutual trust and confidence. The works is anyone who is party, either as an employer or an employee, to an employment contract who is trying to comprehend the implications of this decision.
In Barker v Commonwealth Bank of Australia [2012] FCA 942, the Federal Court awarded Mr Barker $315,700 in damages after finding that the Commonwealth Bank of Australia (CBA) had breached a duty that was previously unrecognised in Australian employment law. The single Judge Besanko J recognised that Mr Barker was entitled to damages for loss of chance to be redeployed due to the CBA’s breach of the implied term of mutual trust and confidence by acting in serious breach of its stated redeployment policy.
