Articles

Welcome to the Sharp Tudhope Lawyers' blog. Here you will find  topical information and advice relating to a wide range of areas of law, written by our legal experts.

EMPLOYER ALERT MINIMUM WAGE SET TO INCREASE

The minimum wage is set to increase on 1 April 2015. Employers should take the time now to ensure that they will have the correct rate information going forward.
Written by Shima Grice at 00:00

THE FINANCIAL MARKETS CONDUCT ACT - ARE YOU READY FOR THE TRANSITION?

The full force of the Financial Markets Conduct Act 2013 (“FMC Act”) came into effect on 1 December 2014. If you are an issuer of securities you will need to ready yourself for the transition to the FMC Act.
Written by James Moran at 11:00

BOOST TO PAID PARENTAL LEAVE

On 1 April 2015 the full entitlement to paid parental leave will increase to 16 weeks. This will increase again on 1 April 2016 to 18 weeks. This means the entitlement will align more closely with Australia and the OECD average.
Written by Shima Grice at 09:00

MORE CERTAINTY FOR CREDITORS FOLLOWING SURPREME COURT DECISION

The eagerly awaited Supreme Court judgment of the Fences & Kerbs appeal has been released. The Supreme Court has unanimously allowed the appeals against the prior Court of Appeal decision that had “left very little scope for the operation of the [s296 Companies Act] defence” against voidable transactions. The Supreme Court considered its interpretation of the meaning of “gave value” was consistent with Parliament’s intention of increasing certainty for creditors who trade with companies in good faith and without any reason to suspect that the company is in financial difficulty.
Written by Matthew King / Nicola Scott at 00:00

RELATED COMPANIES LIABILITY - COMPANIES BEWARE

If one company in a group of companies goes into liquidation then the parent company and other subsidiaries may be held liable for its debts. A recent High Court decision in Lewis Holdings Ltd v Steel & Tube Holdings Ltd , saw the Court use section 271 of the Companies Act 1993 to hold a parent company liable for the debts of its subsidiary.
Written by James Moran at 13:00

WHAT IS A GENERAL SECURITY AGREEMENT ('GSA')?

You may have been asked to enter into a General Security Agreement (‘GSA’) to provide security over your assets to a third party, before that party will advance you money, goods or services. What does this mean? Click the heading above to find out.
Written by Default at 15:00

COMVITA RAISES $24.4M UNDER NEW SECURITIES LAWS

NZX listed Comvita Limited has announced the successful completion of a 1 for 5 renounceable rights offer and shortfall book build, raising $24.4million.
Written by Kylie van Heerden at 15:00

FINANCIAL MARKETS UPDATE: OFFERING FINANCIAL PRODUCTS TO NON-RETAIL INVESTORS.

New changes to the Financial Markets Conduct Act 2013 have recently come into force. These changes will be of interest to Company Directors, Senior Management and Investors. Click the heading above to read more.
Written by James Moran at 09:00

PRE-EMPTIVE RIGHTS: WHAT ARE THEY AND WHEN DO THEY APPLY?

Are you a shareholder in a company? Do you know if pre-emptive rights apply to you? Click the heading above to find out.
Written by James Moran at 09:00

ARE YOU COVERED FOR INDEMNIFICATION AND INSURANCE?

It’s a fundamental principle of company law that a company is a legal entity in its own right; independent from its shareholders and governed by its directors. However, directors and employees can still be personally liable for their acts or omissions. Click the heading above to find out more.
Written by Mark O'Donnell at 09:00

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