Knowledge

How important are your employees?

Some people may worry that when they enter into a relationship they will be classified as de facto, which in turn has an impact on whether they may be exposed to a claim for a property settlement or maintenance upon the breakdown of a relationship.

When confronted with a potential litigation there are usually 2 responses:

If a company has more than one shareholder it should have a shareholders’ agreement in place.

ABC Learning Centres was the biggest childcare company in the world. From humble beginnings in Brisbane in 1988, it grew to 43 centres in Australia at the time it was listed on the Australian stock market. Between 2001 and 2007 the company acquired a further 2195 childcare centres across Australia, New Zealand, the UK and the United States.

Michael R Czinkota, former Deputy Assistant Secretary of Commerce in the United States Department of Commerce said this:

Most Shareholder Agreements provide that Companies are controlled by a shareholder (or a group of shareholders) that holds a majority of the shares in the Company.  These Agreements allow majority shareholders to appoint directors and control many other company activities including the day-to-day operation of the business, payment of Dividends or Dividend distribution policies, financing policies and, in most instances, the issuing of new shares.

Prior to commencing parenting proceedings, parties must make a “genuine effort” to resolve their parenting dispute with the assistance of family dispute resolution (‘FDR’): Family Law Act 1975 (Cth) s 60I(1). The usual form of FDR that parties engage in is mediation with an accredited FDR practitioner. Often this take places through services such as Relationships Australia, however parties can engage an accredited private mediator (who is often an admitted lawyer) to mediate their dispute as well.

In 2005 and 2009, crucial amendments were made to the Bankruptcy Act 1966 (Cth) and the Family Law Act 1975 (Cth) that bestowed jurisdiction upon the Family Court of Australia in bankruptcy for married and de facto couples.

One of the most seminal decisions in bankruptcy law is the High Court decision of The Trustee of the Property of John Daniel Cummins, A Banklrupt v Cummins (2006) [2006] HCA 6.