Friends of Madgwicks: Changes to the ‘Ipso Facto’ provisions – When insolvency is not enough to terminate a contract

Event Date: June 21, 2018

Time: 12.45pm – 2.00pm
Location: Madgwicks – Level 6, 140 William Street, Melbourne
Inclusions: A light lunch is included

From 1 July 2018, your client may not automatically have the right to terminate a contract where the other party to the contract suffers an insolvency event, such as entering into voluntary administration. These changes could have far reaching implications and expose parties entering into contracts to a much greater level of risk than intended.

In this session, Knowledge Management Lawyer Elle Jones and Special Counsel Rebecca James will outline:

  • The current state of play – when and how ipso facto provisions are currently used in contracts
  • What are the proposed changes and why are these changes considered necessary?
  • What are the commercial implications of these changes and what contracts will be excluded?
  • Practical examples and case studies dealing with contracts entered into pre and post 1 July 2018, including business sale agreements and the transfer of shares
  • Strategies for minimising the risk of entering into contractual agreements with a party who may become insolvent

Those eligible will also receive 1 CPD point for Substantive Law.


About the Speakers

Rebecca James

Rebecca James, Special Counsel

Rebecca James is an experienced commercial lawyer with specialisations in superannuation, funds management and private wealth management. She also has tax and structuring advice experience within the superannuation context and supports various practice areas with high level advice, including workplace relations and tax.

 

Elle JonesElle Jones, Knowledge Management Lawyer

Elle Jones is an experienced banking/finance and property lawyer with proven in-house and private practice experience.  Driven by an empathic, consultative and commercial approach, Elle’s legal experience is strengthened by 10+ year’s project management in the banking and finance industry.

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