commercial dispute lawyers

How Coronavirus Impacted Insolvency Laws in Australia

During the initial months of the Covid-19 pandemic, many Australian businesses began to feel the financial weight of trying to keep their business afloat while the majority of the country was in lockdown. In this article by Lancaster Law and Mediation (LLM), find out from insolvency lawyers in Sydney how the coronavirus impacted insolvency laws in Australia, and what the government did. LLM is a commercial law firm with insolvency experience and expertise who can help answer your questions in this area.

Covid-19 Response Act

The Coronavirus Economic Response Package Omnibus Act 2020 (Response Act), was implemented by the Australian government, coming into effect on 25th March 2020 with a provisional end date of 23rd September 2020. The act significantly changed insolvency laws as relevant to all businesses, providing financial assistance and relief to those entities that experienced fiscal distress as a direct result of the Covid-19 pandemic. 

Key Aspects of the Response Act

The Response Act initiated a number of key changes that were designed to protect businesses against potential insolvency or bankruptcy. These included:

  1. 6 months of Safe Harbour for directors, protecting them from personal liability subject to certain stipulations
  2. The minimum dollar threshold to issue a creditors statutory demand increased from $2,000 to $20,000
  3. The deadline for a company to respond to a creditor’s statutory demand extended from 21 days to six months
  4. The minimum dollar threshold for a creditor to initiate bankruptcy proceedings against a debtor increased from $5,000 to $20,000
  5. The deadline for a company to respond to a creditor’s bankruptcy proceedings extended from 21 days to six months
  6. Protection under a Declaration of Intention extended from 21 days to six months


Supplementary regulations, not listed here, took effect at the same time, all with the ambition of minimising financial distress of Australian businesses. However, it also delayed the collection of debts that were outstanding to other businesses. 

The statutory minimum dollar amount and deadline for a company have now been reduced back to $4,000 and 21 days unless the company is eligible for temporary restructuring relief.

The minimum dollar amount for a creditor to initiate bankruptcy has now been reduced back to $10,000.

If you feel your business could benefit from the expertise of an insolvency lawyer, contact LLM today.

Insolvency Lawyers Sydney: Your Local Experts

At LLM, we take great pride in being one of the most trusted and professional commercial law firms Sydney has to offer. If your business is undergoing financial stress due to the pandemic, come and speak to our commercial litigation lawyers.

Discover more about LLM, including why we are the insolvency lawyers Sydney can count on, by contacting us online, or calling us on 02 4227 1177 or 0418 488 495.

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Deed of Indemnity Explained: When You May Need One in NSW

Starting your own company can be an exciting yet complicated venture. There are seemingly endless registration forms, trademark applications and policies that need to be put in place before you are able, or in some cases, licensed, to operate. All of these are necessary in order to protect you and your company in the future. As the director of the company, you want to be sure that you are protected If anything goes wrong. In order to do so, you should acquire a deed of indemnity. In this article, Lancaster Law and Mediation (LLM) will discuss what exactly a deed of indemnity is, why it is important to have, and how, by acting as your commercial lawyers, our team can assist you in preparing and submitting one.

What Exactly is a Deed of Indemnity?

Also known as a deed of access and indemnity, or a deed of insurance, a deed of indemnity is a legal agreement between a company and a company director or company officer. This legal agreement details how a company will secure the director against legal liability if required in the future. More simply put, the deed ensures that the director is covered for costs incurred while they are performing their role at the company.

Why Should a Director Have a Deed of Indemnity?

As the director of a company, you are responsible for a number of duties and obligations including acting in good faith and for proper purpose, acting with reasonable care and diligence, avoiding misuse of information and preventing conflicts of interest. If you are to breach any of these, you may become personally liable for the debts of the company. A deed of indemnity ensures that the company seeks appropriate insurances and/or covers the legal costs. The scope in which they cover the costs may vary depending on the agreements within the deed.

Commercial Litigation Lawyer Sydney: Let LLM Help

At Lancaster Law and Mediation, when employed as your commercial dispute lawyers, we will ensure you are properly prepared for any potential legal matters that may arise in the future. Over decades of experience, we have proven our reliability and dedication to the work we do, all of which is backed by our client satisfaction. For one of the best commercial law firms Sydney has to offer, hire LLM today.

To discover more about how a commercial litigation lawyer in Sydney can help you, contact LLM online, reach out to us on 02 4227 1177 or 0418 488 495.

commercial dispute lawyers

What are the Differences Between Wills and Family Trusts?

Estate Planning Lawyers Sydney

 

When it is time for you to make arrangements for your assets, you may be looking into whether a will or a family trust suits you best. The two options are quite similar, and people often get confused. In saying that, there are notable differences between family trusts and wills, which we will discuss in this article. We will also touch on how Lancaster Law and Mediation (LLM), can help you choose between the two and get them appropriately set up and organised.

What is a Family Trust?

A family trust is set up to hold family assets in accordance and agreeance with the trustee (owner of the trust). The trustee distributes finances, property and assets to members of their family, which is held within the trust until the trustee deems fit to distribute it.

What is a Will?

A will is a document that specifically explains how your assets should be distributed after your death. The document itself should be prepared and legally verified prior to one’s death, and only becomes operational after that person has passed away. The executor of a will is the person in charge of ensuring that the will is enforced and that the instructions within the will are followed accordingly.

Main Differences Between a Will and Family Trust

There are two main differences between a will and a family trust. These are:

  1. When You Use Them: The most notable difference is the time during which a will and a family trust is used. A family trust generally makes annual contributions to its benefactors, whereas you hold onto all of your assets under your will until the time that you die.
  2. Distributions: A family trust will distribute funds and assets on a regular basis to its benefactors, usually once or twice annually. However, the beneficiaries of a will,  only receive their assets after the death of the person that wrote the will. After this occurs, the executor usually must acquire a grant of probate, which allows them to begin making the distributions that the will requests.

Estate Planning Lawyers Sydney: How LLM Can Help

At LLM, our expert and dedicated team can help you determine whether a family trust or a will is most suitable for you. We can guide you in the right direction, as well as assist in filing the correct legal forms to make the process as seamless and easy as possible. For will dispute lawyers Sydney, and some of the most experienced estate planning lawyers Sydney has to offer, LLM are here to help.

Discover more about the wills and estates lawyers Sydney has to offer when you contact Lancaster Law and Mediation online, call our friendly team on 02 4227 1177 or 0418 488 495.

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Contest a Legally Binding Will with Will Dispute Lawyers in Sydney

After the loss of a family member or a close friend, dealing with the grief associated with it is enough stress, not to mention the daunting task of handling their will. In some circumstances, you may feel as though the will is not fairly written, may include mistakes, or has been influenced by someone other than the deceased. In these cases, you may feel it is your responsibility to contest the will. Although this is quite difficult, it is not impossible. Continue reading below to find out when and how to go about contesting a will, as well as how the Lancaster Law and Mediation wills and estates lawyers in Sydney can help.

Who Can Contest a Will?

Before you attempt to contest a will, you must first determine if you have the legal rights to do so. Generally, you are able to contest a will if you were the beneficiary of a prior will of the deceased, are a beneficiary of the current will or are the beneficiary of a newer will than the one being contested. 

When Can You Contest a Will?

Prior to contesting a will, you must find out if you are still within the statute of limitations, which is the time period that elapses after death in which legal contests can occur. This time period may be weeks, months, or even years. If the statute of limitations has expired, you no longer have any legal rights to contest the will. Speak to our estate planning lawyers in Sydney to learn more.

Reasons a Will can be Challenged

There are several reasons that a will can be challenged, such as:

  • Lack of Testamentary Capacity: This means that you believe the person that created the will was not mentally fit to do so.
  • Fraud, Undue Influence or Forgery: These grounds require you to prove that a third party forced the deceased to write the will in a certain way, under duress.
  • There is Another Will: Often there is confusion as to what is the most current will. If you have proof that there is a newer will than the one being contested, you may have legal grounds to contest.
  • State Requirements Not Met: Each state within Australia has different rules and regulations which the will must meet. If it does not, you may have the right to contest it.

Quality Estate Planning Lawyers Sydney

Lancaster Law and Mediation has a superior team of will dispute lawyers in Sydney, with extensive industry experience. For the most experienced wills and estates lawyers Sydney has to offer, contact us online, or call us today on 02 4227 1177 or 0418 488 495.

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Common Causes of Partnership Disputes in Sydney, NSW

However strong your business partner relationship may seem, there is always a chance that, down the line, the relationship may sour for any number of reasons. Here, Lancaster Law and Mediation (LLM) will discuss some of the most common causes of partnership disputes, as well as how our firm can provide the highest quality partnership dispute lawyers in the Sydney region.

Financial Disputes

The most common cause of partnership disputes is issues arising from fiscal disagreements. This can be anything from differences of opinion on where to allocate funds to lack of trust on how sales and revenue is being reported, collected and distributed amongst employees, shareholders and board members.

Intellectual Property Disputes

Intellectual property can refer to a number of things such as a company’s logo, their concept or even the goods and services they offer. These disputes often require a mediator or third party to help figure out whether the individual or the company owns the rights to the intellectual property. LLM is the best commercial law firm Sydney has to offer, and can help with this mediation process.

Questions of Authority

When going into business with someone, it is vital to set clear and direct ground rules at the beginning in terms of who has priority control over what aspects of the business. If these ground rules are not set, business partners can often have disputes over who holds more authority within the business, as well as how the business should be run. Shareholder and employment agreements can be useful for this

Disputes Regarding Overall Business Objectives

Another common reason for partner disputes is due to differing ideas on what objectives the business has. One partner may intend to grow the company into different towns and cities, while the other may want to keep the operation small and local.

Commercial Litigation Lawyer Sydney: How LLM can Help

The team of reliable and trusted lawyers and an accredited mediator at Lancaster Law and Mediation (LLM) can help business partners discuss their disputes and work out a fair and equal solution to them. With years of industry experience, we have the skills and knowledge to get your business back on track. Come to us to hire a skilled and experienced commercial litigation lawyer in Sydney.

For one of the best commercial law firm Sydney has to offer, contact our team online, or reach out to us on 02 4227 1177 or 0418 488 495.

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Factors of Hiring a Commercial Litigation Lawyer in Sydney

Commercial litigation lawyers are legal experts who specialise in representing a company’s or person’s interests when it comes to financial disputes and disagreements. Their main goal is to protect the client’s rights and obtain the best possible outcome for the client. In this article we will discuss some main factors to consider before hiring a commercial litigation lawyer, as well as how Lancaster Law and Mediation (LLM) positions ourselves as a leading commercial law firm in Sydney.

Does the Law Firm Operate Locally?

Commercial dispute lawyers work in a range of regions and places, which means some are more versed in different aspects of commercial law. Different states commonly have different laws and regulations; therefore, it is important that you choose a commercial law firm that has the appropriate experience for your case.

Costs and Payment Options

Different law firms charge in different ways. Some will charge by the matter, meaning a flat fee for the entirety of the work, while others will charge by the hour. This will be set out in their costs agreement. It is important to check law firm prices, as well as what payment types they can offer that will suit you best.

Areas of Commercial Litigation Expertise

Commercial litigation lawyers specialise in a variety of aspects of law, from business setup and trademarks to shareholder agreements and commercial disputes. It is vital that you choose a lawyer or law firm that has the right knowledge and experience to best represent you and your business. Accreditation as a specialist is a useful guide.

Lancaster Law and Mediation: Commercial Litigation Lawyer in Sydney

Lancaster Law and Mediation is proud to advocate for their clients in the most responsible and reliable way possible. With a team of experienced lawyers and an accredited specialist in commercial litigation, we have the team for you.

For more information about the highest quality commercial dispute lawyers in Sydney, contact us online, or reach out to us on 02 4227 1177 or 0418 488 495.

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Resolving Disputes Through Commercial Litigation, NSW

Partnership dispute lawyers are specially trained to handle dispute resolution, which is a sensitive and complex area of law. It pertains to disputes between businesses, government organisations and individuals. In situations like these, every case is unique, nuanced and requires a legal mind which can objectively understand the situation and provide the best strategy.

Commercial dispute lawyers address cases which involve breach of contract, business-to-business disputes, debt recovery, property disputes and so on. Lancaster Law & Mediation offers some advice on how to best resolve disputes through commercial litigation.

Act Early

When it comes to addressing a dispute, time is of the essence as there are time limits on pursuing a claim. Contact our partnership dispute lawyers as soon as possible so they can familiarise themselves with the facts of the case and begin working on a strategy.

Business Disputes

When it comes to business disputes, one can never know what to expect. Each case is different, and can quickly escalate into a messy, time consuming affair which takes a toll on everyone. Lancaster Law & Mediation provide expert legal services for areas of commercial litigation such as:

  • Contract disputes with partners or employees
  • Business property and leasing disputes
  • Legal notices for debt recovery
  • Disputes between directors and shareholders
  • Insolvency and Bankruptcy proceedings
  • Intellectual property disputes
  • Administrative review

Professional Negligence

Disputes which involve professional negligence typically arise when there is a failure on the part of a professional to act with reasonable care and competence when working with a client. You may be entitled to a compensation if you have suffered harm due to a breach of service. This may include financial services negligence, lawyer negligence, and more.

Bankruptcy

Commercial dispute lawyers also provide legal services to businesses applying for voluntary bankruptcy or to help you recover debts owed to you by a person who has declared bankruptcy.

Defamation

Expert commercial lawyers provide legal support in cases where you have been defamed or accused of defamation.

Experienced Partnership Dispute Lawyers Sydney

No matter the nature of the dispute that your business faces, Lancaster Law & Mediation has the best legal minds to help you resolve such problems with astute legal representation and advise. Contact us online or on 02 4227 1177.

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What Are The Reasons For Hiring a Commercial Law Firm?

At Lancaster Law & Mediation, we believe that the key to building business which can withstand the current challenges of commerce is to have a legal plan which benefits you when you need it most. Obtaining the services of a commercial law firm is one of the best ways to add a layer of protection to your business. Here are some reasons why we believe every business should work with a commercial law firm.

Expertise in Commercial Law

commercial law firm gives you the freedom to focus on growing your business by keeping a close eye on the vast area of commercial and business litigation law for you. Experienced lawyers know this area of law inside and out and are best place to ensure you are in compliance with regulations and to protect your business from potential litigation.

Protecting You and Your Interests

When you hire a commercial law firm, the organisation takes it upon itself to protect you and your interests. Your legal team will give you advise on how to run your business, where to invest your money, ensuring that employer and employee rights are protected. A commercial lawyer will also help shape the terms and conditions of your business so you can operate with a robust framework in place.

Provide Multiple Perspectives

When running a business, it is valuable to have a wealth of perspectives to help illuminate as many possible solutions as possible. A commercial lawyer provides a unique perspective and will lay out all the options you have at your disposal when it comes to business strategy or business litigation. A lawyer will also help you determine whether litigation is the right approach and how the law can be interpreted to work with or against you.

Preventing Potential Issues

‘Prevention is better than cure’ might feel like an old cliché, but when it comes to safeguarding a business, the best way forward is to prevent problems by being proactive. A good commercial firm takes it upon themselves to keep an eye out for any problems that might arise and ensure that they are solved before they become insurmountable. Handling issues only when they arise can be costly, time consuming and hamper employee morale and productivity.

Experienced Commercial Law Firm Sydney

Lancaster Law & Mediation provides comprehensive commercial law services to businesses across Sydney. Get in touch with us today to safeguard your business against the uncertainties of the modern business landscape. Contact us online to locate a commercial litigation lawyer Sydney wide or call us on 02 4227 1177.

wills and estate lawyers sydney

Create a Will With Estate Planning Lawyers Sydney

At Lancaster Law & Mediation, we advise our clients to think ahead when it comes to safeguarding their assets to make sure their family is well cared for upon their passing. One of the most important aspects of estate planning is creating a robust, valid will which lays out legally binding, clear instructions on how your affairs are to be administered. The definition of a will is as follows; A legal document with instructions for who you want to inherit your estate, care for your children, and be the executor of your estate when you pass away. Here are some of the benefits of obtaining the services of a wills and estates lawyer to draft a will that will care for your loved ones.

Maintaining Control of Your Assets

If a person passes away without a valid will, they are considered to have died ‘intestate’, and the estate is distributed according to state law. These laws could result in a distribution which is not aligned with your wishes. A qualified wills and estates lawyer will ensure that your will is worded with precision and all the documentation required to legally register it is completed accurately.

Professionally Drafted Will

A will is a very important legal document which requires careful, precise wording to make sure that there are no ambiguities or errors. A robust will must clearly outline the people who are to receive your assets, specific personal items or heirloom pieces. A will can also outline how your funeral is conducted with the desired religious considerations. Your lawyer will be best placed to include all the pertinent instructions required in a will using the appropriate language.

Updating Your Will

A will is a document which reflects a person’s last wishes and instructions on how their loved ones will be cared for after they pass away. Over the course of a lifetime, relationships change, people evolve and find their priorities have shifted. An estate planning lawyer will review your will with you on a regular basis, and advise you if you need to update it, add or remove assets or change beneficiaries. This ensures that your will evolves as you do and reflects your inheritance plan as it changes in line with your life.

Trusted Will Dispute Lawyers Sydney

Lancaster Law & Mediation has a highly qualified and experienced team of wills and estate lawyers who oversee every aspect of estate planning and will dispute proceedings for clients. Contact us online or over the phone on 02 4227 1177.

estate planning lawyers sydney

How To Plan Inheritance With Estate Planning Lawyers

Creating a well-planned strategy which deals with your assets in the event of your death might sound like a grim idea, but it’s imperative to ensure your wishes are fulfilled. Starting the process requires expertise to ensure that disputes between family members do not arise after your passing. At Lancaster Law & Mediation, we focus on wills and estate planning services which are customised to suit your unique and varied needs. Read on to find out how an estate planning lawyer can benefit your inheritance plans.

Benefits of Wills and Estates Lawyers Sydney

Experience and Expertise Count

professional lawyer has the experience, training and resources to ensure that there are no potential ambiguities and errors in your estate plan, while also making sure that all the appropriate documentation is in place.

Advice on Fair Distribution of Assets

An estate planning lawyer is an impartial third party who has the ability to advise you on how best to distribute your assets. Every family has its unique dynamics and remaining objective while creating a will can be challenging for most. Your lawyer can advise you on the best way to plan inheritance while considering every significant family member and their relationship to you.

Choose A Trustee or Executor

Appointing a loved one to handle your affairs as trustee or executor is a challenging thing to do. It is only natural for a close family member to remain objective especially after a loved one’s death when grief can be a huge burden and decisions are driven by strong emotions. A wills and estates lawyer will draw upon his or her experience to help you choose the right executor for your estate so that your affairs are well represented upon your passing.

Fine Tuning The Inheritance Plan

Your lawyer will seek to review your estate plan on a regular basis to ensure that your inheritance plan is up to date and relevant. Interpersonal relationships evolve and change over time, while a person’s own priorities and goals can change overnight. An updated estate plan reduces the risk of internal family disputes and keeps the plan in line with your wishes.

Experienced Estate Planning Lawyers Sydney

Estate planning is a complicated, emotional process which may feel daunting at first, but is the key to achieving peace of mind before you pass away. Begin the process today of protecting your assets with the team at Lancaster Law & Mediation. Contact us online or call us on 02 4227 1177.