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The illegal phoenixing regime
The Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (Cth) (Amending Act) came into force on 18 February 2020 and was designed to prevent illegal phoenixing activity. The Amending Act introduced reforms such as creditor-defeating disposition provisions to combat phoenixing activity. Additional provisions amending the Corporations Act 2001 (Cth) were aimed to encourage accountability by…
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What exactly is a change of control clause?
In commercial contracts, a change of control clause is one that allows one of the parties to an agreement to terminate or modify its terms if a third party acquires a controlling stake in the other. A change of control clause grants a party certain rights, such a right to accelerate an obligation to pay…
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Biologi’s Bf & Bk serums contain no Vitamin C – Court Orders prove it!
The recent decision of the Federal Court of Australia Native Extracts Pty Ltd v Plant Extracts Pty Ltd [2023] FCA 1265 where final declarations and orders were made against Mr Ross Macdougald (Macdougald), Plant Extracts Pty Ltd ACN 613 551 349 (Plant Extracts) and skincare brand Biologi Pty Ltd ACN 618 697 297 (Biologi) sheds…
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Unfair contract terms – automatic renewal clauses explained
9 November 2023 was a crucial date for Australian businesses because from that date significant penalties can now be imposed on businesses found to have unfair contract terms (UCT) in their contracts. The Federal Government had introduced significant changes to laws relating to UCT on 10 November 2022.
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Changes to unfair contract terms
The Treasury Laws Amendment (More Competition, Better Prices) Act 2022 (Cth) (Amending Act) received royal assent on 9 November 2022, introducing significant amendments to the Australian Consumer Law (ACL). These amendments target the Unfair Contract Terms (UCT) provisions of the ACL, strengthening the rights of consumers while imposing stricter requirements on businesses using Standard Form…
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What exactly are retained earnings?
Retained Earnings are a financial metric that offers a valuable insight into a company’s financial health, extended stability and potential for future growth. They represent the profit a company has retained overtime after accounting for all liabilities including the payment (if any) of dividends.
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Plant Extracts Pty Ltd & Ross Macdougald admit misleading conduct – ordered to publish corrective notices
On 23 October 2023, in the matter of Native Extracts Pty Ltd v Plant Extracts Pty Ltd [2023] FCA 1265 Justice Downes issued an initial judgement and made orders for declaratory relief and the publication of eight (8) corrective notices by Plant Extracts Pty Ltd ACN 613 551 349 (Plant Extracts) and skincare brand Biologi…
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Skincare brand Biologi breached the ACL – ordered to publish 5 corrective notices
In a recent decision of the Federal Court in Native Extracts Pty Ltd v Plant Extracts Pty Ltd [2023] FCA 1265 Downes J issued an initial judgement and made orders for declaratory relief and the publication of eight (8) corrective notices by Plant Extracts Pty Ltd ACN 613 551 349 (Plant Extracts) and skincare brand…
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Trade mark classification guidance from IP Australia
There has been a surge in trade mark applications in the digital space, notably concerning virtual goods, virtual environments such as the metaverse, NFTs, and the blockchain according to observations made by IP Australia. This article discusses the things to consider when selecting the classification(s) for virtual goods and services when filing an application for…
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