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Latest Case

Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

Latest News

Maddocks advises Diversified Minerals on financing of gold mine April 10, 2019

Wednesday 10 April 2019 Law firm Maddocks has advised Diversified Minerals Pty Ltd on a A$74 million syndicated project finance facility together with a US$18 million royalty to fund the development of the Dargues Gold … Continued

Latest Article

The Caretaker role: conventions during the 2019 Federal election April 10, 2019

In anticipation of the 2019 Federal election being called at any moment, those working for the Australian Government are preparing for the Caretaker Period. Successive governments have accepted that leading to an election for the … Continued

Will we see more liquidators using SOPA after Seymour Whyte?

Earlier this year (and not for the first time in the Australian security of payment landscape) an intermediate appellate Court in one Australian State reached a different position on materially identical provisions in the security of payment scheme to that reached by the appellate Court in another State.

In Seymour Whyte Constructions Pty Ltd v Ostwald Bros Pty Ltd (in Liquidation) [2019] NSWCA 11, the NSW Court of Appeal declined to follow the Victorian Court of Appeal’s decision in Façade Treatment Engineering Pty Ltd (in liq) v Brookfield Multiplex Constructions Pty Ltd [2016] VSCA 247 on a key issue of security of payment legislation, with the NSW Court of Appeal holding that in NSW, key security of payment processes can be initiated (at least) by a claimant in liquidation.

Maddocks Construction & Projects team partner, Mathew Stulic and senior associate, Andrew McGlashan share their thoughts and consider the question, will we see more liquidators using SOPA after Seymour Whyte?

 

Earlier this year (and not for the first time in the Australian security of payment landscape) an intermediate appellate Court in one Australian State reached a different position on materially identical provisions in the security of payment scheme to that reached by the appellate Court in another State.

In Seymour Whyte Constructions Pty Ltd v Ostwald Bros Pty Ltd (in Liquidation) [2019] NSWCA 11, the NSW Court of Appeal declined to follow the Victorian Court of Appeal’s decision in Façade Treatment Engineering Pty Ltd (in liq) v Brookfield Multiplex Constructions Pty Ltd [2016] VSCA 247 on a key issue of security of payment legislation, with the NSW Court of Appeal holding that in NSW, key security of payment processes can be initiated (at least) by a claimant in liquidation.

Maddocks Construction & Projects team partner, Mathew Stulic and senior associate, Andrew McGlashan share their thoughts and consider the question, will we see more liquidators using SOPA after Seymour Whyte?