So that’s settled then...
- Published 19.10.2017
Mobis Parts Australia Pty Ltd v XL Insurance Company SE (No 7) [2017] NSWSC 1321
Phoenixing is the registering of a new company to take-over the failed or insolvent business of another company. While phoenix activity does not always involve illegal conduct, illegal phoenix activity has attracted significant media and public scrutiny – and rightly so. Illegal phoenix activity involves company directors deliberately trying to avoid paying liabilities such as taxation debts and employee entitlements.
Summary
On 11 September 2017, the House of Representatives Standing Committee on Industry, Innovation, Science and Resources (the Committee) tabled their long-awaited report, ‘Social issues relating to land-based automated vehicles in Australia’ (the Report).¹ The Report examined how government and industry could respond to the imminent uptake of automated vehicles in Australia.
This edition of the FSB is packed with a swag of recent cases, our selection of recent FOS and SCT determinations and the answer to a client's question about the Life Insurance Code of Practice in our topical 'Turks Q&A' which we hope you will find useful and interesting.
In 'What's Happening Here and Now', we are delighted to tell you about recent promotions in our Financial Services team.
We hope you enjoy this edition of the FSB!
Industry News
Guastalegname, Nunzia v Australian Associated Motor Insurers Ltd [2017] VCS 420
Bugeja v Jarrett [2017] NSWCA 219