Has COVID-19 had a minimal or positive impact on your business operations?
Has COVID-19 had a minimal or positive impact on your business operations? Have you or your client navigated the pandemic to be in a position to regenerate and invest in new opportunities? Have you strengthened your position in the market and are now looking to expand?
Read our latest insights and analysis for businesses in a position to acquire new assets, explore new commercial opportunities, hire staff and enter the growth phase of COVID-19.
COVID-19 Q&A: YOUR QUESTIONS ANSWERED
These are unprecedented times, and COVID-19 poses challenging legal situations for many businesses and families.
We provide guidance for COVID-19 queries and give key contact details should you require further legal support.
Are you thinking of undertaking a round of capital raising?
Advice for ASX-listed companies seeking to raise equity
You may be able to access the temporary relief measures enabled by the ASX (under the watchful eye of ASIC), which are currently in place until 30 November 2020. Read more.
How will my intellectual property matter be impacted by business restrictions?
IP Australia maintains business continuity during COVID-19
IP Australia has published updates on how it is maintaining its services during COVID-19, in relation to hearings, correspondence, filing documents, making payments, extensions and PBR applications. Read more.
How do I approach my customers about outstanding debt?
Businesses talking to their customers now about unpaid debt will be best equipped to secure maximum recoveries
25 September 2020 will see the end of the Federal Government's moratorium on the initiating steps that a business can take to recover debt from another business through the creditor's statutory demand or bankruptcy notice processes. Read more.
Do you need regulatory advice in relation to new business areas?
Consider and evaluate your risks
COVID-19 has led some businesses to expand into opportunities – for example, coffee roasters ST. ALi are now manufacturing hand sanitiser!
It is essential that all regulatory risks associated with new business opportunities are carefully considered and evaluated. We have seen regulators continue to closely investigate proposed merger activity during COVID-19, and regulators have been at pains to emphasise that they will continue to enforce the law despite the pandemic.
Please contact Robert Neely from our Corporate team to discuss any compliance-related regulatory issues.
What will the traditional workplace look like?
The future of the workplace
The unexpected and additional benefits of working from home will have implications for the traditional workplace in the future. Read more.
Want to understand how your Modern Slavery reporting obligations have changed?
Modern slavery reporting in light of COVID-19
It is crucial that businesses continue to assess and address modern slavery risks during the COVID-19 pandemic and report these actions in their modern slavery statements. Read more.
Need to sign documents electronically?
Redesigning signing
If your organisation is transitioning to (or increasing) the use of e-signatures, it is important to have a robust framework or policy in place. Read more.
Are you a director of a company which is struggling financially due to the impact of COVID-19 and want to know the extent of your personal exposure?
The COVID Act also exempts company directors for personal liability for debts incurred by their companies while insolvent. That is, where the companies are unable to pay their debts when due and payable. This exemption from insolvent trading liability only applies, at this stage, to the six-month period from 25 March 2020 and to debts incurred in the "ordinary course of the company's business".
These provisions potentially provide directors with a second "safe harbour" from insolvent trading; the first "safe harbour" being available to directors who are actively pursuing a restructuring plan for their struggling company under tight criteria imposed by legislation.
Less appreciated, however, is that there has been no change to the directors' duties imposed by the Corporations Act and the common law. Directors still have to act in good faith, with due care and diligence and for a proper purpose in the use of their positions and the information available to them. A board of directors making significant business decisions during the COVID-19 pandemic, or its aftermath, are well-advised to seek advice on their duties to the company and its various stakeholders before making those decisions.
The extent of any exposure you have as a company director of a struggling business during COVID-19 is an issue that you can confidentially discuss with the members of our Commercial Disputes team.
What is "COVID-new" and what has changed?
The Australian Government has made some temporary changes to director and holding company liability during the COVID-19 period. Though the relief is welcomed by business owners, the changes may serve to worsen current solvency issues and encourage directors to take unwise risks.
Need to know how to conduct an e-meeting under the Corporations Act?
Important Corporations Act changes allow for virtual meetings and electronic execution
Temporary changes in force until 6 November are designed to overcome the impact of COVID-19 by allowing virtual AGMs and electronic execution. Companies can convene, give notice of and conduct meetings virtually; and electronically execute documents using a physical or e-signature.
Our team is actively monitoring and considering the implications of legal and regulatory developments in response to the COVID-19 pandemic. You can find our COVID-19 collection here.