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Advising on tech company IPOs July 6, 2018

Silicon Valley-based technology company Pivotal Systems launched an initial public offering (IPO) and listing on the Australian Securities Exchange (ASX) on 2 July 2018. The IPO raised $53.5 million, placing the value of the specialist … Continued

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Flying high: Maddocks acts on sale of private pilot training school to private equity July 6, 2018

Friday 6 July 2018 Law firm Maddocks has acted for the founder of Australia’s largest private pilot training school, Soar Aviation, on the group’s 50 percent sale to Australian private equity investor The Growth Fund. … Continued

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Choose your opinions wisely: The Fair Work Commission clarifies approach to conflicting medical reports July 16, 2018

In CSL Limited T/A CSL Behring v Papaioannou [2018] FWCFB 1005 a Full Bench of the Fair Work Commission (Commission) clarified that it will make an independent assessment of medical evidence when considering capacity for … Continued

‘Noted’ versus ‘Named’ – Is there a difference?

‘Noted’ versus ‘Named’ – Is there a difference?

Do tenderers ever meet council’s insurance requirements?!

For example, many Australian Standard form contracts require that public liability insurance be taken out in the joint names of the principal and contractor. In our experience, this requirement is often resisted by contractors who say that the relevant insurance cannot be effected in joint names and the only option is to note the interests of the principal.

Luckily, this may not be the end of the world. Being noted (versus named) on a policy can still allow councils to claim on that policy.

This is because section 48 of the Insurance Contracts Act 1984 (Cth) entitles a person noted on the policy to make a claim on the policy for a loss.

Practically, whether or not Council should accept being noted only (vs named) will depend on the circumstances of each transaction.

What does your council do when a tenderer resists your council’s required insurance?  What steps do you take before you agree to your council being noted on a contractor’s insurance policy?

Authors:
Louisa Nuccitelli | Senior Associate
61 3 9258 3591
louisa.nuccitelli@maddocks.com.au
Kathryn Sutherland | Lawyer
61 3 9258 3692
kathryn.sutherland@maddocks.com.au

‘Noted’ versus ‘Named’ – Is there a difference?

Do tenderers ever meet council’s insurance requirements?!

For example, many Australian Standard form contracts require that public liability insurance be taken out in the joint names of the principal and contractor. In our experience, this requirement is often resisted by contractors who say that the relevant insurance cannot be effected in joint names and the only option is to note the interests of the principal.

Luckily, this may not be the end of the world. Being noted (versus named) on a policy can still allow councils to claim on that policy.

This is because section 48 of the Insurance Contracts Act 1984 (Cth) entitles a person noted on the policy to make a claim on the policy for a loss.

Practically, whether or not Council should accept being noted only (vs named) will depend on the circumstances of each transaction.

What does your council do when a tenderer resists your council’s required insurance?  What steps do you take before you agree to your council being noted on a contractor’s insurance policy?

Authors:
Louisa Nuccitelli | Senior Associate
61 3 9258 3591
louisa.nuccitelli@maddocks.com.au
Kathryn Sutherland | Lawyer
61 3 9258 3692
kathryn.sutherland@maddocks.com.au