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Guarantees and the Code of Banking Practice – compliance with the Banking Code required to enforce a guarantee

Case Note by Kieran Hickie and Andrew Kirby. The recent decision of the Supreme Court of Victoria in National Australia Bank Ltd v Rice [2015] VSC 10 highlights that care and attention must be taken by banks and lenders to ensure compliance with the Banking Code is taken in order for guarantors to understand their rights and liabilities under a guarantee. Non-compliance with the requirements of the Banking Code can result in guarantees not being enforceable.

Validity of international sports arbitration awards rendered by the Court of Arbitration for Sport

Case Note by Paul Czarnota. The German case of Pechstein v ISU has thrown some doubt over the validity and enforceability of arbitral awards rendered by the Court of Arbitration for Sport, the arbitral tribunal established to determine international sporting disputes. Pechstein may provide a future avenue for challenging sports arbitral awards globally, and in Australia.

High Court: Civil forfeiture proceedings may need to await the finalisation of criminal proceedings

Case Note by Simona Gory. Civil forfeiture of asset proceedings may need to be stayed pending finalisation of the relevant criminal proceedings, at least in circumstances where the offences and circumstances relied on in the forfeiture proceeding are substantively identical to the criminal proceedings and there is no prejudice to the Commissioner arising from a delay to the forfeiture proceedings.

The aftermath of Timbercorp

Article by Cam Truong. A short excursion into the aftermath of the Timbercorp Group collapse that included an unsuccessful grower class action and appeal, and currently hundreds of proceedings being pursued against and resisted by, individual growers. Looming test cases.