Employers Liability Newsletter - March 2018
- Published 20.03.2018
Employers Liability Newsletter - March 2018
Employers Liability Newsletter - March 2018
Summary
The Government recently released an exposure draft of the Bankruptcy Amendment (Debt Agreement Reform) Bill 2018 (Bill). The Bill proposes a comprehensive reform of Australia’s debt agreement system. Reform is timely having regard to the increased popularity of debt agreements as an alternative to bankruptcy. Between 2007 and 2016 new debt agreements increased from 6,560 to 12,640 per year.¹ Over the same period new bankruptcies declined from 25,754 to 16,842.²
What is a Debt Agreement?
Welcome to the Financial Services Bulletin (FSB) – March Edition, 2018
This is our first FSB for the year, delivering recent industry news, an important case law development, a selection of FOS and SCT determinations and TurksLegal Q&A.
Industry News
Summary
The National Mortgage Form (NMF) is a significant national initiative aimed at standardising the form of mortgage documentation in Australia.
From 3 March 2018 all mortgages in NSW must now be prepared in the NMF which replaces the Mortgage Form 05M previously accepted by the Land Titles Office.
Facts/Background
Employers Liability Newsletter - February 2018
Summary
A recent decision of the Supreme Court of NSW has, once again, highlighted the importance of lenders carefully assessing whether the Farm Debt Mediation Act 1994 (NSW) (Act) applies before taking steps to enforce a security.
Summary
In the recent case of West v Smith¹, the Supreme Court of Western Australia held that a regularly executed will for a $1.5 million estate was invalid because the testator lacked mental capacity. The case illustrates the importance of gaining a thorough understanding of testators when preparing their will and identifying who may reasonably have a claim on the estate.
Mental capacity in making wills
Summary
Orders for security for costs are uncommon in probate proceedings. However such an order was made late last year by the Supreme Court of New South Wales in Re Estate Condon; Battenberg v Phillips [2017] NSWSC 1813 (21 December 2017). Notably in this case, the Court outlined a number of general factors for security for costs applications peculiar to probate proceedings.
Background - the testamentary instruments
Summary
In Goode v Angland, the Court of Appeal considered the application of section 5L Civil Liability Act 2002 (NSW) (CLA) to a personal injury claim by a professional jockey injured during a horse race. The Court held that professional horseracing is a ‘recreational activity’ for the purposes of section 5K CLA, enabling the defendant to successfully argue that the statutory defence of ‘obvious risk’ of a ‘dangerous recreational activity’ applied to defeat the claim.
Facts
Sharma v Insurance Australia Ltd (t/as NRMA Insurance) [2017] NSWCA 307