ASIC

The Australian Securities and Investments Commission (ASIC) have issued four infringement notices to Suncorp Group’s AAMI for false or misleading advertisements relating to its home insurance on both its website and the radio.

In the promotion of its Home Building Insurance ‘Complete Replacement Cover’ product, AAMI stated that the company would repair or rebuild an insured property no matter the cost to the insurer.

Recent Changes
Changes to District Court Practice Note No. 1 – Case Management in the General List

Recent Decisions

Presidential decision on ‘substantial contributing factor’ (section 9A of the 1987 Act)
E-Dry Pty Ltd v Ker [2017] NSWWCCPD 26 (15 June 2017)

Introduction

It is common practice for trade creditors to obtain security from debtors in credit application terms in the form of a charge over land provided and then proceed to have a caveat registered against the debtor’s land. An issue can arise when there are competing caveat interests over the debtor’s land and not enough money to satisfy all the claims.

Creditor’s interest in land

Australian Competition and Consumer Commission v JJ Richards & Sons Pty Ltd [2017] FCA 1224

Summary

On 12 November 2016, a new law came into effect that voided unfair terms in standard form contracts with small businesses.

The Australian Competition and Consumer Commission (ACCC) has now claimed its first scalp under this new law with the Federal Court decision in Australian Competition and Consumer Commission v JJ Richards & Sons Pty Ltd [2017] FCA 1224.

Background

Summary

In October 2017, the NSW Court of Appeal upheld a District Court ruling for the defendant in respect of liability arising out of a motor vehicle collision involving an ambulance that had entered an intersection on a red light when responding to an emergency.

In both the primary and appeal decisions, the ambulance driver was held to have acted as a reasonable person would in the circumstances, weighing up competing priorities such as social utility and the risk of harm pursuant to section 5B of the Civil Liability Act 2002 (NSW).

JC Automotive Repairs Pty Ltd v John Hardy [2017] NSWSC 1218

Welcome to the October edition of our Financial Services Bulletin

2017 ALUCA TurksLegal Scholarship - And the winner is...