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Option clauses – treat them as just another boiler plate clause at your peril
It is commonplace for leases and commercial agreements, to grant a party (the Grantee) the right and ability, but not the obligation, to extend the term. This is known as an option. To be in a position to exercise an option, the Grantee must satisfy whatever conditions are provided for…
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Assignments of management rights – when is it ok to say NO?
A body corporate cannot unreasonably withhold consent When a building manager sells its business, it is required to obtain the body corporate’s consent to the assignment of the management rights prior to settlement. The body corporate cannot unreasonably withhold consent to the assignment, but that doesn’t mean the body corporate…
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The importance of properly detailed registration on the PPSR
The matter of Re Carson; Hastie Group Ltd (No 3) [2012] FCA 719 relates to an application made by the administrators after the collapse of the Hastie Group. By way of background, the Hastie Group involved 44 companies over 36 sites and was the subject of 995 registrations on the…
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