Client v Builder
We were contacted by one owner of a SMSF that has contracted to have a building constructed. Our client agreed to the builder’s suggestion to construct using Structural Insulated Panels instead of brick, in return for a price reduction of $14k, but the builder is now reneging on that deal. There are also disputes about […]
Buying into Companies
We met a new client yesterday who is looking to allow some of his employees to buy into his company. We discussed different ways and means – selling his shares or allotting new shares in the company, with him getting the proceeds in the first instance and the company getting the funds in the latter. […]
Dispute with a Factoring Company
One of our clients has a dispute with a factoring company. A factor buys debts at a discount from companies that have cash flow issues, but they are very expensive forms of finance. In this case, if the debtor fails to pay within the time stated on the invoice, not only is interest charged on […]
Longest Mediation Session Ever!
Last week we attended the longest day’s mediation we’ve ever been involved with. We did not get out until after 7.00pm. We almost finished settling six related Court actions. Our clients have settled with the plaintiffs, but the plaintiffs and another party are still arguing about costs, so it may be a little while yet […]
Multiple Court Actions
Today Michael will be in Court most of the day attending a mediation in which he will be trying to settle six related Court actions. One is an action claiming various breaches of trust in relation to a family discretionary trust that was establish in 1977. One claim is that a deed that added a […]
Liquor Licence Transfer
Last week we finalising the paperwork for the transfer of a liquor licence. It proved to be a bit trickier than was expected due to liquor licensing requiring a profit-share approval application to be made before my client enters into a franchise agreement with a large hotel chain franchisor, due to the franchisor taking a […]
Upcoming Debt Collection Kit
We have two builders testing our Building Contract Management Kit. We are busy finalising the latest version of a DIY Debt Collection Kit which will include: suggested template letters and telephone scripts for contacting the client; step by step approach to commencing Minor Claims matters in the Magistrates Court for debts under $10,000; step by […]
Business and Property Documents
We put together an interesting suite of documents this week: A lease of a large commercial property from one company which owns the property; A licence to run a business from another company that is currently running a business from the property; and An over-arching agreement to tie them together, including provisions for bonuses if […]
Commercialising Software
We had a long meeting with a client this week looking at some strategies for commercialising some software, including…
Option Agreements
It has been a week for option agreements this week.
We amended one that gives a couple of potential investors the option to invest multiples of $50,000 up to $600,000 in a technology company